🔭 THE ULTIMATE BITCOIN ANALYSIS ✊
▫️ Key Levels:
• Resistance: $73,881
• Support: $60,371
• 200-Day Moving Average: $58,117
▫️ Observations:
• Current price: $61,551.
• Price is above the 200-day moving average, indicating a bullish trend.
• RSI indicates oversold conditions, enhancing the likelihood of a bullish rebound.
▫️ Expectations:
1. Uptrend:
• Breaking $62,000 will strengthen the uptrend towards $75,000.
2. Downtrend:
• Breaking below $62000 may lead to a correction towards $58,117.
▫️Analysis of Liquidation Data (Heatmap):
• The heatmap shows a high liquidation level around $75,000, indicating strong resistance in this range.
• Liquidation levels suggest increasing selling pressure at higher levels.
▫️ Summary of CoinGlass Data:
1. Cumulative Volume Delta (CVD): -1.019M
• Selling volume exceeds buying volume, indicating selling pressure.
2. Funding Rates: 0.0041
• Positive funding rates suggest traders are paying to open long positions.
3. Open Interest: 77.588K
• High open interest level, increasing the likelihood of price volatility.
4. Aggregated Liquidations: 218.368M
• Significant liquidation volume, indicating potential for sharp price movements.
5. Aggregated Long/Short Ratio: 0.9636
• Long to short ratio is less than 1, indicating a preference for short positions over long positions.
▫️ Conclusion:
• Uptrend: Likely to continue as long as the price stays above $60,371. Breaking $62,000 will strengthen the upward momentum.
• Downtrend: Breaking below $62000 may lead to a correction towards $58,117.
$BTC #US_Inflation_Easing_Alert #MiCA #IntroToCopytrading #VanEck_SOL_ETFS #ETH_ETFs_Approval_Predictions