In recent days, Bitcoin has been actively updating its ATH almost daily. Everyone is already predicting $150,000 by the end of the month.
🔥 But is everything really so rosy? Let's take a closer look!
During the powerful growth over the past month, two gaps have formed below us. The first is at $97,368–102,867. The second is at $85,158–93,232. And as we know, in 99% of cases, gaps close sooner or later.
📊 Technical:
Liquidity zones - as we know, the price moves from liquidity to liquidity, which pushes it in one direction or another. Right now, there is practically no liquidity above us; it is all concentrated below. Only a move to $99,000 can now liquidate more than a billion dollars in longs.
I think short sellers' stops are much higher, at $120,000 and above. There is no point in placing them here when there is still no confirmation of a trend reversal.
⚙️ Metrics and indicators:
Volume - as I say in every review - is not a new growth impulse. It is a technical rebound. It has been moving at reduced volumes all along, which have only continued to decline.
MACD - has already given a bearish crossover, but this is certainly not the best indicator on such a TF. However, in combination with other indicators, it can predict a trend reversal at the right time.
DSRZ - shows the volume of interest at certain levels, and now we see that the first block of interest is concentrated in the $106,000–104,000 zone. These are the first support levels, from which I will expect the first rebound if the correction continues.
Liquidation Levels - as I said, all liquidity is now concentrated at the bottom. Bitcoin is very overheated and it's time to cool it down. Many think that it will be overheated when, as in the previous cycle, funding will be 0.2 and above.
But this is a different cycle, a different time, different traders, and different rules. This has already been proven more than once in this cycle.
📌 Conclusion:
I have said many times that we should not expect much from this momentum and that it is purely a technical rebound. And if something does not push us sharply upward now to bring in retail, we can definitely not expect it before the fall.
Summer is coming, investors and traders will close their positions and go on vacation. The market will be quiet.
So, personally, I am leaning back in my chair, expecting a price of at least $85,000, and watching what happens next. 🥃
🔥 But is everything really so rosy? Let's take a closer look!
During the powerful growth over the past month, two gaps have formed below us. The first is at $97,368–102,867. The second is at $85,158–93,232. And as we know, in 99% of cases, gaps close sooner or later.
📊 Technical:
Liquidity zones - as we know, the price moves from liquidity to liquidity, which pushes it in one direction or another. Right now, there is practically no liquidity above us; it is all concentrated below. Only a move to $99,000 can now liquidate more than a billion dollars in longs.
I think short sellers' stops are much higher, at $120,000 and above. There is no point in placing them here when there is still no confirmation of a trend reversal.
⚙️ Metrics and indicators:
Volume - as I say in every review - is not a new growth impulse. It is a technical rebound. It has been moving at reduced volumes all along, which have only continued to decline.
MACD - has already given a bearish crossover, but this is certainly not the best indicator on such a TF. However, in combination with other indicators, it can predict a trend reversal at the right time.
DSRZ - shows the volume of interest at certain levels, and now we see that the first block of interest is concentrated in the $106,000–104,000 zone. These are the first support levels, from which I will expect the first rebound if the correction continues.
Liquidation Levels - as I said, all liquidity is now concentrated at the bottom. Bitcoin is very overheated and it's time to cool it down. Many think that it will be overheated when, as in the previous cycle, funding will be 0.2 and above.
But this is a different cycle, a different time, different traders, and different rules. This has already been proven more than once in this cycle.
📌 Conclusion:
I have said many times that we should not expect much from this momentum and that it is purely a technical rebound. And if something does not push us sharply upward now to bring in retail, we can definitely not expect it before the fall.
Summer is coming, investors and traders will close their positions and go on vacation. The market will be quiet.
So, personally, I am leaning back in my chair, expecting a price of at least $85,000, and watching what happens next. 🥃
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.