The Longs still keep opening contracts trying to catch the falling knife, I think they are hedging their already open positions to keep the stop loss away, and the majority of the Longs will have their SL below the last Bottom at 17.6 K
No interest on the spot via the CVD Spot (Cumulative Volume Delta) indicator, unlike CVD futures in a strong upward trend.
The low volumes we had on BTC during the rally was just to manipulate the market with a Buy to Sell, basically trapping Shorts and giving Longs false hope.
https://coinalyze.net/snapshot/biluNwb6
The Kingfisher map shows us that the short positions are opening a lot with leverages of 10X +or- given the large liquidation peaks around 24K so a little less than 10% of the price of now which is at $21650.
The question to ask: will we look for peaks at 24K? or we will go directly to the next support at 19.3K?
Not to be aggressive so we have to wait to see if we will have a Daily close below 20.7K then we will forget the 24K, this is only my opinion and we are dependent on the S&P 500 in correlation with our king BTC!
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