๐ชYesterday after the stock market opened, BTC was again under pressure. Additional impact came from macro data that wasnโt very positive for risk assets. ๐
๐ Bitcoin tested local lows several times, but the most important thing is that the price was quickly bought back, and it returned above $60,000 again. This is a good sign that buyers are defending this level.
โ Also, on the daily timeframe, a bullish divergence is starting to form, which could become the first signal of a reversal.
๐ค If BTC continues to hold above $60,000, then the probability of a recovery starting will only increase.
๐ For now, weโre closely watching how the price reacts. The $60,000 level remains key for the next move in the market. ๐๐#btc70k #BTC $BTC
๐ช Right now, the market is starting to be dominated by the short sellers ๐๐
๐ On the liquidation map, the situation looks really interesting:
๐ชIf BTC skyrockets to $70,000, the liquidation volume of SHORT positions could exceed $5 billion ๐คฏ
๐ชThe picture for ETH is similar โ if it rises to $1880, over $3.1 billion in SHORT positions could get liquidated.
๐ค This is why I keep saying: despite the weak chart, opening up too many large shorts right now is risky.
๐ฅ The more short sellers pile in at the bottom, the stronger the potential short squeeze could be.
๐ If some good news comes out or big players decide to hunt for liquidity, the upward movement could be very sharp and painful for the bears.
๐ While everyone is looking down, liquidity is gradually building up above. And the market loves to go where the money is. ๐ฐ๐๐ฅ#btc70k $BTC $ETH
๐ชBTC dropped to $61,900 yesterday, wiping out nearly $500 million in liquidity ๐
๐ But what's interesting โ on every dip, the crowd is opening LONG positions again, banking on a quick reversal.
โ ๏ธ The daily candlestick closed weakly, so I'm leaning more towards a continuation of the downtrend for now.
๐ Of course, if strong positive news drops, the market could pivot upward quickly. But purely from a technical analysis standpoint, the picture looks bearish at the moment.
๐ป Therefore, for hedging, consider small SHORT positions to profit from a potential continuation of the correction.
โ๏ธBut don't overload on shorts. The price is already close to strong support zones, and any positive news could trigger a sharp bounce.
โ Right now, the key is risk management. You can also profit on the dip, but do it without getting carried away and keep a cool head. ๐๐๐ฅ
โ ๏ธ Not financial advice. Everyone makes their own decisions.#btc70k #BTC $BTC
On the monthly chart, a double bottom is starting to form ๐๐
๐ค There are only 8 days left until the candle closes. Is the market really not going to try to buy back?
๐ Personally, I believe the chances of a buyback are high. At the very least, I'm expecting a bounce back above $66,000, and in a good scenario, we might see $70,000+ ๐๐ฅ.#btc70k $BTC
๐ชAs I mentioned yesterday, liquidity was swept up from the bottom โ
๐ However, the buyers' reaction was weaker than I expected. Additional pressure on the market is coming from news in the Middle East.
๐ฎ๐ฑ Israel has struck again on Lebanese territory, despite talks of de-escalation and peace agreements between the USA and Iran.
๐ Looking at the chart, the daily candlestick closed poorly, so I'm paying special attention to the monthly close.
โ ๏ธ The June candlestick could be crucial for the market's future.
๐ If we see a strong buyback and a return to higher levels by the end of the month โ that would be a good signal for continued bullish momentum.
๐ค However, if the month closes weakly, the risks of a deeper correction will remain.
๐ For now, weโre observing. The close of June may provide the answer to the main question: is this the bottom or are we in for another wave of decline? ๐๐#btc70k $BTC
๐งธ CryptoQuant: analysts are predicting a drop in BTC to $48,000 ๐
After the dip to $60,000, the market has entered a zone of significant stress โ the number of coins in the red has already surpassed those in the green โ ๏ธ
๐ The Sell-side Risk Ratio metric has flashed a red signal for the first time since the last cycle, indicating heightened risks of further correction.
๐ Additionally, the CVDD model shows the $48,000 range as a potential floor for the current cycle.
๐ค Personally, I'm not in a rush to wait for those levels, but we shouldn't ignore on-chain data either. The market is currently in a very critical zone, and the upcoming weeks could be pivotal for BTC's direction. ๐๐#btc70k $BTC
๐ชYes, yes, yes! This is exactly the scenario I've been waiting for ๐๐
๐ช Let BTC rise while dominance keeps dropping โ this is practically the ideal setup for altcoins ๐๐ฅ
Can you feel the altcoins starting to wake up? ๐
โ NEAR, SUI, ADA, AVAX, and many other coins are already showing signs of recovery.
๐ This is the kind of scenario I wanted to see, and it's starting to play out.
BTC is confidently breaking through $66,000 ๐
๐ If buyers maintain the momentum, there aren't many serious obstacles before hitting the $70,000 zone.
๐ The key right now is for dominance to keep falling. If that happens, altcoins can make moves way stronger than Bitcoin itself. ๐ฅ๐ฐ#btc70k $NEAR $SUI $ADA
As before, I'm waiting for liquidity hunting around $65,000 โ ๏ธ๐
๐ค I think today or tomorrow this zone could definitely get tested, and then weโll assess based on market reaction.
๐ For now, the main scenario remains the same โ first, weโll take out the upper liquidity, and then evaluate the next direction of movement. ๐๐#btc70k $BTC