BTCUSDT update with Falling Wedge & Key Liquidity Grab Zones

16 באוג׳ 2023

Let take a closer look at BTCUSDT, the recent price action reveals a potential falling wedge with price Currently, been maneuvering within a distinct wedge.

Before any potential breakout from the wedge, there's an expectation for the price to test the POTENTIAL LIQUIDITY GRAB ZONE.

A clear representation of this breakout pattern is visible on the chart. Upon a successful breakout from the wedge, our primary target resides at the significant resistance area around the $31,000 mark. This zone represents a key liquidity region.


It's pivotal to remain vigilant once we approach the $31,000 LGZ. Will the price shatter this barrier, or will we witness a rejection? A rejection from this zone could signal a substantial downturn.

If BTCUSDT faces rejection from the LGZ around the $31,000 mark, we might be poised for a sharp drop. Such a move could guide us directly to the LGZ of a major support region.


As with all trading scenarios, waiting for confirmations through price action is essential. This analysis provides a roadmap of potential moves, but the market's true direction will always be dictated by a myriad of factors. Trade safely, and always employ risk management techniques.

Let's watch how the BTCUSDT drama unfolds in the coming days.

Thanks

17 באוג׳ 2023

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3 בדצמ׳ 2023

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