King cryptocurrency Its unit exceeded $ 90 thousand again and with the last rise, there was a liquidation of $ 146 million. Almost all liquidations consist of short selling positions. Investors had increased their short selling positions in case the $81,000 level would be tested at the end of the week, but today’s rise turned the corner.
This is Bitcoin’s Tactic
The analyst, nicknamed BACH, watches with amazement as the same price movements continue to surprise investors. From the bottom in 2022 to today of Bitcoin The analyst, who writes that the company is on the same path, thinks that the same scenario will happen again. Accordingly, the boring move for BTC will soon end and BTC will make a bigger peak.
“Since the 2022 cycle low Bitcoin followed the same scenario:
Big decline -> 7–8 week consolidation -> continuation of the rise.
So far this scenario has not failed…”
If BACH is to be right, BTC should complete this consolidation process by next week, exceed 98 thousand dollars and move to its new peak where it will approach 150 thousand dollars.
Spot Stream Recovers
You can clearly see how suppressed the risk markets are in the silver and gold chart. Since Bitcoin tends to price the risk, it is negatively affected in this process, but there is an end to this. Kyledoops shared 4 items in its spot streaming data a few minutes ago and gave investors hope by emphasizing “silent change”.
- Binance and total CVDs returned to net buying after the decline.
- Selling pressure limiting the price within the range is decreasing.
- Coinbase sales have slowed significantly and overall supply has decreased.
- There is no complete accumulation yet, but the spot absorbs again and does not distribute.
We should treat early signals that spot demand is returning with caution. However, at some point this weakness ends and of cryptocurrencies He also needs to come back.
If spot buyers start to show themselves more dominantly in the next 2 days, the way for larger peaks may be paved. It may be useful to proceed cautiously for now and watch what happens over the weekend. If you want to be sure of the rise, waiting for daily closes above $98 and $101 thousand is also an option.
