Looking at the current chart, we can see a very strong price compression around the $71,000 region. But don't let this calmness fool you, $BTC is preparing for a leap to $75,000. Why do I believe in this number? 🧵👇
1. Smart Money is pouring in 🏦
On-chain data shows that the amount of BTC withdrawn from major exchanges is reaching an all-time high. With supply dwindling while demand from ETF funds remains steady, breaking the psychological barrier to reach the $75,000 mark is only a matter of time.
2. Technical analysis: Bull Flag pattern 🚩
On the H4 and D1 chart, BTC is clearly forming a Bull Flag pattern.
Strong support zone: $69,500 - $70,500.
Technical target: The distance from the flagpole indicates the next target of this rally is exactly the zone of $74,800 - $75,200.
3. Bear Trap and Short liquidity 🐻
Currently, a large amount of Short positions are densely accumulating around the $72,500 - $73,500 zone. A strong price push through this zone will create a "Short Squeeze" effect, pushing BTC's price straight up to $75,000 in the blink of an eye to seek liquidity.
💡 Strategy for Trader brothers:
Long position: Consider gradually accumulating when the price retests the $70,800 zone.
Risk management: Absolutely do not forget to set a stop-loss below the $69,000 zone to protect the account from unexpected "wick sweeps."
What is your prediction?
🔥 Drop a heart if you believe BTC will reach $75,000 this week!
💬 Comment the highest price you think BTC will reach this month!
#BTC #CryptoAnalysis #BullRun #PricePrediction #TradingStrategy