A few days ago I was predicting that $BTC would reach 55k due to more people betting that Bitcoin would go down, in addition to the large amount of capital that has been flowing into Bitcoin ETFs. Once this point is reached, what can we expect for the following hours/days?
First let's look at the liquidation map, we see that there are far more people betting that Bitcoin will go up (although this must be because they have just liquidated too many people who were betting on the downside).
The second point is to consider that a lot of capital has flowed into Bitcoin through ETFs and continues to do so.
The third and last point is the Bitcoin chart, on the one-day chart there is still a large overbought, however, the stochastic relief with the recent lateralization, which indicates that it still has fuel left to continue rising. But on 4 hour charts both rsi and stochastic are at very high levels.
Taking all of the above into account, I would expect a correction or lateralization to around 56,200 and then rise to around 59,500.
This is not investment advice, I'm just giving my opinion.
