There is a nice amount of liquidity at 49k. Usually Bitcoin will have some sort of liqiduity purge on this lower timeframe before an impulsive move up. 49.000 is a nice round number, traders almost always act around these round numbers. This equals liquidity.
Next to this, there was a bullish flag formed there with a nice hammer candle. Lots of traders acted at this place. This also equals liquidity.
Next to this, there was a bullish flag formed there with a nice hammer candle. Lots of traders acted at this place. This also equals liquidity.
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Liquidity purged, spot longs filledDisclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.