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π¨ #BTC Quick Update (4H Timeframe)
Bitcoin is currently moving inside a rising wedge pattern and recently got rejected from the upper trendline near the $127K zone.
After that rejection, price has been showing clear weakness with lower highs forming on the 4H chart.
At the moment, BTC is approaching the wedge support area around $110Kβ$111K β this zone will decide the next major move.
π If BTC breaks below this support with strong volume, we could see a sharp correction toward the $106Kβ$103K zone.
π But if bulls defend the lower trendline again, expect a bounce back toward $116Kβ$118K for retest before next decision move.
πΈ Volume is drying up, showing a possible squeeze setup before a breakout.
πΈ Traders should watch $110K support and $116K resistance as the key decision zones.
BTC is in a neutralβbearish zone inside a rising wedge.
Next few candles around $110K will decide whether we see a bounce or a breakdown continuation.
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##BROCCOLI ππ
π 13β€βπ₯ 8π³ 4π¦ 1
#BROCCOLI LONG AT 0.029 - 0.027
SL - 0.025
TP - 0.031 - 0.033 - 0.035 - 0.037 - 0.040
Leverage 5-10x
β οΈ Disclaimer: This analysis is for educational purposes only and not financial advice. Please manage your own risk before trading.
π 22β€βπ₯ 12π₯ 5π³ 3π¦ 1
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Covid crash: $1.2 Billion in liquidations
FTX crash: $1.6 Billion in liquidations
Today: $19.16 Billion in liquidations
This is Biggest liquidation event in history of crypto and almost 20x bigger than the Covid crash of March 2020.
β€βπ₯ 37π€· 20π³ 9π₯ 3β‘ 2
COOKIE HIT SL
WILL RECOVER SOON
π₯ 27π€· 18β‘ 6π 3π¦ 3π³ 1
