đ€Bitcoin price prediction: Why a BTC rally might be delayed
đ Bitcoin Gains: Bitcoin [BTC] gained 3.6% from the lows of May 31st, trading just above the $67k support level. Despite this, trading volume remains unconvincing, leaving the question of a rally or extended consolidation open.
đ Volume Indicators Conflict: BTC's price recovery from $59k in mid-April saw the RSI climb above neutral 50, indicating momentum. However, the OBV remained within a range, suggesting recent gains may be temporary due to low buying pressure. Conversely, the CMF highlighted significant capital inflows, showing conflicting signals.
đź Bullish Bias Weakened: The bullish bias is present but weakened by low trading volume in the past two weeks, casting doubt on a strong price prediction.
đŻ Liquidation Cluster: A large cluster of liquidation levels at $73k-$75.2k acts as a magnetic zone for BTC prices, with the $65.6k region also of interest. The lack of volume suggests BTC may consolidate around $70k until it breaches the $73.5k region, indicating a potential range formation in the near term.