- Following more than $ 1 billion in BTC readings, prefer an upward movement – only $ 113k – $ 114k remains the critical resistance zone.
- A wick below the golden cross level can still cause a bullish reaction, but fail risks to expand the Bearish structure.
The cryptomarkt showed a lot of uncertainty after more than $ 1 billion increase in the established liquidations.
The peak in liquidations was oneFrom yesterday’s explosive collision in which Elon Musk and Donald Trump were involved. This resulted in Bitcoin [BTC] Futures markets see an increased long position liquidations of More than $ 342 million.
Why are the opportunities prefer?
On that remark, the aggregated liquidation of the alfractal liquidation showed a strong sales activity between $ 107k and $ 114k.
However, $ 108k and $ 113k were the most important zones to pay attention to liquidations. After the decrease in cryptom markets, Bears forced BTC to fall under $ 102k.
It is important that the heat folder showed a thinner pressure on the short side, which suggests that bears can have exhausted their momentum, at least temporarily.
A decrease of less than $ 99k in BTC could bring it to $ 93k, which would coordinate the realized price in the short term. This would suggest to reach a bottom.
On the other hand, the liquidation of livered lengths above $ 100k may have reset the board for bulls. The ability of BTC to find a floor just above $ 100k hints on a short -term stabilization.
Source: Alfractaal
Traders look closely at $ 113k
That said, most traders keep an eye on the range of $ 113k – $ 114k, because many positions can be closed at that time.
Overcoming these problems would probably lead to more liquidations, which would continue to climb the market.
The uncertainty in the market created by Elon Musk and Donald Trump, about a tax assessment and expansion of the American debt ceiling, can, however, lead to more panic sales.
Trump stressed on truth social That he was not stunned because Elon turned against him. Despite fear, the way in which the graph and the liquidation were organized hinted that the market could go up.
Bitcoin Hertest Golden Cross
Moreover, BTC has also reviewed its gold cross level, where the 50-day advancing average overstud on the BTC/DXY graphic.
Signals such as these were previously associated with bullish reversals and BTC responded well to this event at the beginning of November 2024.
If BTC would fall under $ 100k but returned to this level soon, it could come again and try to test $ 106k, $ 111k and higher.
If the price did not stay above $ 99k, it could go lower, possibly accompanying BTC to the range of $ 97,000 – $ 93,000.
Source: TradingView
As long as Bitcoin holds more than $ 100k and $ 103k – $ 106k recovery, a test of $ 111k becomes possible. Again falling under $ 99k, the bias would probably go back to the range of $ 97k – $ 93k.
Credit : ambcrypto.com
