At press time, Bitcoin price was trading near a liquidity zone of $82,500 on a daily timeframe. In late September, Bitcoin price formed a liquidity zone near $82,500. BTC price has dropped by 4.65% over the past 4 days and has grabbed the liquidity beneath the $82,500 level. During the liquidity sweep, the market was volatile and trading volume increased sharply. Open interest dropped by 0.60% in just 5 minutes during sweep because of longs closing. After this sweep, BTC price is expected to react positively if volume supports this momentum and can enter $90K territory. If sellers dominate and daily candlestick closes below this level, BTC price can drop further.
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Bitcoin price displayed liquidity sweep on higher frame: A rally to begin?