Analysis $BTC 06/12/2024
#BTC, this time it was surprising, not only because it quickly cleared the liquidity at $90,500, but also because it then rose quickly to close within the blue band where a closure was expected.
We had a strong liquidation of many late LONGs in that region, but it was still much lower than expected for such a violent move. Also, in this sense, we could verify that #altcoin held prices well during that sudden drop of BTC.
If after this strong recovery you still have doubts about whether we will reach $105,000, then I don't know what we have to do.
Today we had the unemployment rate in the U.S. that increased from 4.1% to 4.2%, of course, the figures are not alarming in difference, but it is enough to push BTC and #altcoin in the upward direction and take us to $105K.
Even with the rapid jump in Bitcoin's price, the RSI still looks good and has more room for us to keep rising from here.
There is not much to see here, we are in price discovery and close to Christmas, so things should heat up even more and you shouldn't try to stop it.
Yesterday the BULLS made a mistake by generating that liquidity very close to the current day's price, but it seems to me that they have now learned the lesson and want a higher price. Note that most of the BULLS are now positioning below $ 95,000, which seems reasonable.
The big bears are also not staying still and are starting to leave $ 105 000 and reach $ 110 000, which makes some sense.
Friends, I know the second attempt decides things, but I still believe we will surpass $104,300.
Altcoins will skyrocket as soon as this diverges!