$BTC #freenew #CryptoNewss Price swept Equal lows, like we have been calling for 3 days.
After price flushed to 74k and cleared the liquidity sitting below, it reversed back to 77k.
OI dropped heavily on the push, meaning short positions that built over the past week got rekt/panic closed.
Perps CVD is recovering along with Spot CVD.
Shorts that were keep adding lower ended up being the feul for the move, exactly like we called for.
But both CVDs are still negative. The squeeze is pushing the price here, and not real demand.
And we have the same question here,
"What will push price higher once the fuel runs out?"
Cuz if we really wanna see price breaking above 80k again, CVDs need to cross back into positive territory.
And, OI needs to start rising with price instead of collapsing.
Imo, the squeeze is still not done and we will sweep 78k, cuz there's a good amount of liquidity stacked above it.
So in short, if we don't see buyers backing up the move, we are gonna retrace back after clearing 78k,
Though if we see real demand/buyers showing up, then I will be looking for the flip of 80k,
If price manages to flip 80k, I will be eyeing the sweep of the highs/83-84k liquidity.