📉 Bitcoin Daily 📈

$BTC didn't close above ~$104810, which was a key condition for a bullish scenario. While this doesn’t cancel the bullish case, it suggests the market wasn’t ready to push higher at the end of the month. The chart shows decreasing volume at the top of the swing, where most price action occurred around the January 26th high (~105497), likely driven by stops above it. These stops provided liquidity for profit-taking on older longs and possibly new shorts.

We should wait for a volume spike on dips to confirm that new positions will close and longs will open. Alternatively, we could wait for a breakout above 106450 and join then. However, I believe the market will give us a chance to load lower.

We might see wicks developing toward the Year VWAP around 100k, with the nearest interest zone between 101.5k-102.6k, aligning with the Daily 20-SMA. This is for a very bullish scenario.

The next zone of interest is below 99660. If the market dips further, it could reach around 97k, given the attraction of the trendline, especially early February.

WLD

86,600.3

-3.95%

#Bitcoin liquidation heatmap:

above - 106020 / 106502 / 107245 / 108840

below - 103366 / 102884 / 101300 / 98860