Everyone is looking at the liquidity below Bitcoin.
I'm looking at the liquidity above it first.
The monthly heatmap still shows strong liquidity sitting below price, roughly between $50k and $60k.
But when I look at the weekly, 48h and 24h heatmaps, Bitcoin is still doing what I've been talking about for days.
Stairs up.
Clearing liquidity above.
Building confidence.
Then moving to the next level.
We're also forming what looks like a rising wedge, which is one of the reasons I'm still interested in the downside longer term.
The thing is, I don't think the biggest move comes before FOMC.
Right now the shorter-term liquidity above price still looks attractive, and the heatmaps suggest Bitcoin may not be finished squeezing higher yet.
For me, the more interesting question is how much liquidity gets taken above before the market finally decides to target the larger liquidity pool below.
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