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Orders may cluster above a prior high, but drawing a line does not measure the orders. Distinguish ICT liquidity labels from observed market liquidity.
Above highs and below lows
In ICT terminology, BSL marks areas such as prior highs where buy stops may execute. SSL marks areas such as prior lows where sell stops may execute. The label describes order direction, not the side of the position being stopped out.
A short stop can result in buying; a long stop can result in selling. New breakout entries may occur nearby too. A chart cannot identify the owner of those orders.
Market liquidity is broader
Spread, order-book depth, and price impact for a given size are also liquidity concepts. BSL and SSL are not direct measurements of those quantities.
Foreign-exchange order research provides evidence of stop clustering and associated price effects. It does not validate the whole ICT framework or every BTC liquidity claim.
A sweep versus a continuing break
With a fictional confirmed high at 100, a bar reaching 101 and closing at 99 trades beyond the level and closes back inside. That is one way to distinguish the event from a break that continues above the level.
Measure subsequent reversal separately. Selecting only events that later reverse would contaminate an estimate of reversal frequency.
Fix the reference rules
Record the level, confirmation time, wick or close criterion, and reuse limit. Measure overshoot rather than treating every breach as identical.
This site’s sweep study is a BTC research design. Learning a chart convention does not establish predictive performance in a particular market.
Sources and documentation
Federal Reserve Bank of New York — Stop-Loss Orders and Price Cascades in Currency Markets
Continue with common foundations
Position Sizing: Convert a Risk Budget into Order Quantity · Trading Expectancy: Calculate Average Profit and Loss (scheduled) · Open Interest: What an Increase in Contracts Means · Python Price Data Checks: Duplicates, Timestamps, and Returns (scheduled)
Research methods and reporting standards
For education and research. Numerical examples are teaching assumptions unless explicitly identified otherwise. Historical results do not guarantee future performance.