According to CrypNuevo, the recent retrace of Bitcoin back to the low 80s is not a cause for concern from a higher time frame perspective. CrypNuevo suggests that this movement is part of usual market manipulation aimed at stop losses and liquidations. The commentary implies that traders should not panic over this retrace as it is a normal market behavior. Source: CrypNuevo on Twitter.

According to CrypNuevo, Bitcoin experienced a choppy price action at the start of the week, followed by a deviation below the trendline to hit stop losses (SLs). Subsequently, there was a push up after the FOMC meeting, leading to liquidations. This sequence highlights the volatile nature of Bitcoin trading and the significant impact of macroeconomic events on its price.

According to CrypNuevo, current trading strategy avoids longs at range lows due to insufficient reactions from liquidation levels. A decline to $88k is anticipated if range lows are breached, triggered by stop losses. Additionally, there is potential to fill the $78k CME gap.

According to CrypNuevo, the orderbook shows liquidity at $95k, composed of liquidations, stop losses, and buy limit orders. This suggests that the price might first hit this area, which is close to $94.7k. The zone between $94.7k and $95k is identified as a potential bounce area.

According to CrypNuevo, the cryptocurrency market demonstrates manipulation, deviating from organic supply and demand models and being influenced more by retail traders' liquidations and stop losses. This highlights the importance of tracking liquidity for effective trading strategies (source: CrypNuevo).