Current Price: $60,993
Overall: -0.9M (Selling Pressure)
Binance: -1.1M (Selling Pressure)
Bitfinex: 145.6K (Buying Pressure)
Coinbase: 47.7K (Buying Pressure)
Spot Cumulative Volume Delta (CVD):
Overall: -7.05M (Selling Pressure), but...
Binance: 300.6K (Buying Pressure)
Bitfinex: 64.2M (Buying Pressure)
Coinbase: 42.3M (Buying Pressure)
Next Moves:
Resistance: $62,000
Support: $59,000
Analysis:
Bitcoin's price action is currently showing mixed signals on short timeframes. While the general Spot Delta indicates selling pressure, it's important to note that key exchanges like Bitfinex and Coinbase are showing buying pressure according to their CVD. This suggests that even though there might be some selling off, there's also buying interest on these major platforms.
Binance is showing the most significant selling pressure, so it's worth keeping an eye on their activity. However, the positive CVD on Bitfinex and Coinbase partially counteracts this.
Overall, the market seems to be in a bit of a tug-of-war. A breakout above $62,000 could signal a continuation of the uptrend, while a drop below $59,000 could indicate further downside.
Stay tuned for further updates and be sure to manage your risk accordingly!