I was reading some analysis yesterday about going long at re

I was reading some analysis yesterday about going long at resistance and short at support. It sounds completely backward, but in this specific market environment, it is exactly how you survive.Bitcoin is chopping everyone to pieces between $66,000 and $69,000 right now. Every time we dip to $66k, the breakout traders short it thinking the bottom is falling out. What happens next? Market makers sweep that liquidity and pump it back up.
If you look at the underlying data, we saw over $410 million in ETF outflows on Thursday. That is incredibly heavy institutional selling pressure, yet the price is refusing to collapse. That tells you the dip buyers are absorbing the impact behind the scenes. Stop placing your stop-losses right below the obvious support lines, because that is exactly where the large players are hunting for your liquidity. Trade the sweeps, not the breakouts.
BTC
67,018.42
-0.16%

.css-1iqe90x{box-sizing:border-box;margin:0;min-width:0;color:#EAECEF;}I was reading some analysis yesterday about going long at resistance and short at support. It sounds completely backward, but in this specific market environment, it is exactly how you survive.

I was reading some analysis yesterday about going long at resistance and short at support. It sounds completely backward, but in this specific market environment, it is exactly how you survive.