#Bitcoin has been moving sideways around $58,000 for 3 days.
Since the price is moving sideways, the data does not change and it becomes difficult to understand which way the price will move.
Let's still look at the current data and try to understand how the price will move together đ
1) Direction of the Trend
The price was in a downtrend for a long time, but the downtrend was broken 3 days ago and the price managed to climb above it.
Although the downtrend resistance has been broken, a new high peak has not been made yet. When the h4 close above $59k occurs, a new peak will be made and we can say that the price has moved into an uptrend.
2) Spot CVD
Spot CVD is moving sideways. Coinbase is buying, Binance is selling.
We can interpret Coinbase's buying as a positive.
3) Whale Activity
Whale activity increased from around -20 to -9 but has not yet moved into the positive zone.
Whales are probably waiting for the price to make a new peak instead of a downtrend breakout. If the $59k breakout occurs, we can see whale activity turn positive, but it is still in the negative zone.
4) Liquidation Map
đčLong liquidations are intense in the $55-53k and $49-46k range.
đžShort liquidations are intense in the $60k range, followed by $65-67k and $70-72k range.
You can follow long liquidations as support and short liquidations as resistance.
The long-term outlook is already extremely positive. In the short term, it would be better to see closings above $59k and whale activity turn positive.
I haven't shared much recently, friends, since the data hasn't changed. I'm trying to give you clear information without confusing you too much. I can share a lot of posts and reach more interaction and followers, but instead of confusing you with unnecessary information, I'm trying to provide you with the right information in a short and concise way.
If you think it's useful, it will be enough for me if you like the posts, friends.I wish everyone a nice day and good luck.
