BTCPERP – Incredible Price Action
Bitcoin Perpetual Futures FTX:BTCPERP
This price action is amazing to watch and analyse from a distance. We can see stop loss raids and compression breakouts with many wicks that seem to respect pattern structures. These pattern breaks are accompanied by mass liquidations of manual traders. Seemingly, the price action seems to be led by high frequency bot trading systems that outperform the human eye using volume algorithms.
Observe and take some distance. Maybe a retest of the monthly kijun to the upside is the next plausible market reaction to this correction. Many short positions to liquidate and bears need to reload.
