1. Technical analysis (4-hour chart):

#BTC formed a descending triangle, which was broken upwards, which is a bullish signal. However, it is important to note that the current price is above EMA20, but below key moving averages (EMA50, EMA100, EMA200), and the Ichimoku cloud continues to act as resistance. This creates conditions for possible consolidation or a slowdown in the upward momentum.

Trading volumes indicate significant activity in the $58,500-$59,000 range, which coincides with a strong resistance zone. This may signal that the market is not yet ready for significant gains and needs an additional catalyst to break out of this range.

2. Map of liquidations:

The liquidation map shows that significant liquidation levels are located in the range of $57,000 below and $60,000 above. These levels are key, and a break of them could lead to sharp price movements. A break of $60,000 above could lead to massive liquidations of short positions, which could provide a strong impetus for further price growth.

It is important to note that in the current range, the price is closer to the lower liquidation level (around $57,000), which could be a potential support area if the price returns to this level.

3.Net Flow:

shows a significant outflow #BTC #BTC on September 3, indicating that major market participants are pulling assets off exchanges. This is generally seen as a bullish signal, as a reduction in supply on exchanges while demand remains the same or increases can lead to a rise in price.

However, significant outflows can also indicate a decrease in liquidity in the market, making the price more susceptible to sharp moves, especially if key support or resistance levels are broken.

Conclusion:

The current market situation #Bitcoin points to uncertainty with both upward and downward movement possible. The upward breakout of the descending triangle and the outflow from the exchanges suggest that growth may occur in the near future, especially if the price breaks the resistance around $60,000. However, strong resistance levels and the presence of large liquidation levels also pose risks to continued growth. Important levels to watch are $57,000 and $60,000. A breakout of either of these could set the direction for the next significant price move.

Recommendation: Closely monitor price action around key levels and be aware of possible sharp movements in the event of a breakout of $60,000 upwards or $57,000 downwards.

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