Bitcoin is currently trading green for the week, where it currently sits at US$96,700.
The Bollinger bands are continuing to compress, indicating that the price range of which Bitcoin is trading is narrowing.
Should we get a kick in volatility in the coming days, below are some potential outcomes.
Sentiment in crypto markets have taken a hit in recent weeks, with the fear and greed index currently indicating market sentiment as fearful.
Global exchange data from Coinglass suggests that if Bitcoin surges to US$100,000, up to $5 billion in short leveraged positions could be liquidated, triggering a potential short squeeze as traders rush to cover their positions.
Bitcoin volatility has also dropped to its lowest point since August 2024.
Bullish Scenario
Price may head towards $102k which is the February monthly open; this could be fuelled by a short squeeze – based on what we know from the exchange data referenced earlier.
Bearish Scenario
Price failing to remain above the yearly open of circa $93k could result in a move back towards the January low of $89k.
The Bollinger bands are continuing to compress, indicating that the price range of which Bitcoin is trading is narrowing.
Should we get a kick in volatility in the coming days, below are some potential outcomes.
Sentiment in crypto markets have taken a hit in recent weeks, with the fear and greed index currently indicating market sentiment as fearful.
Global exchange data from Coinglass suggests that if Bitcoin surges to US$100,000, up to $5 billion in short leveraged positions could be liquidated, triggering a potential short squeeze as traders rush to cover their positions.
Bitcoin volatility has also dropped to its lowest point since August 2024.
Bullish Scenario
Price may head towards $102k which is the February monthly open; this could be fuelled by a short squeeze – based on what we know from the exchange data referenced earlier.
Bearish Scenario
Price failing to remain above the yearly open of circa $93k could result in a move back towards the January low of $89k.
Check out my YouTube channel - Crypto With Pav, for crypto market analysis. You can also join my free telegram for more frequent updates - t.me/pavs_ta_temple
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.
Check out my YouTube channel - Crypto With Pav, for crypto market analysis. You can also join my free telegram for more frequent updates - t.me/pavs_ta_temple
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.