Bitcoin price faked strength at a higher demand zone before dropping lower and is now testing a more significant demand area.
Liquidity below remains a threat, so it's crucial to watch for a reaction or a potential flush in the market.
The recent price action in Bitcoin demonstrates a classic trap scenario where the market accumulated before making a calculated move downwards.
The current situation involves Bitcoin sitting on a lower demand zone, which could lead to a bounce towards a supply level above, but there is also dangerous liquidity below that could be triggered in case of market weakness or fear.