đ THE ULTIMATE BITCOIN ANALYSIS â
âŤď¸ Key Levels:
⢠Resistance: $73,881
⢠Support: $60,371
⢠200-Day Moving Average: $58,117
âŤď¸ 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.
âŤď¸ 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.
âŤď¸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.
âŤď¸ 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.
âŤď¸ 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.
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