$BTC Review
Market liquidations over the past day, according to CoinGlass: ~71K traders, totaling ~$130 million — approximately 80% long positions and 20% short positions.
Last week, risk assets like BTC came under pressure due to geopolitics and rising inflation expectations in the US. This led to a bounce from 63.5K to 60K.
Currently, at the start of the new week, there’s no significant buyer activity. Rather, there’s a local squeeze towards 60K, where an important psychological support zone resides.
There are chances for growth, but only if BTC breaks above 63K and manages to hold there. Nonetheless, the prospects favor breaking below 60K and initiating a descent towards the lower boundary of the descending channel. That’s what I’m counting on.
