$BTC Bitcoin has formed a bearish peanut pattern. At the same time, BTC liquidation levels are present around 87,500 and 88,500.
If we look at the funding rate, shorts are currently opening in the market, while during the last 24 hours longs have been liquidated.
Because of this, the market is likely to make a downside spike, grab the lower liquidity, and then move upward.
After that, it can target the upper liquidation zones around 90,300 and 91,500.
At the moment, the market is not giving any one-sided move; it is stuck in a range.
Also, there is no major U.S. economic data coming in the next two days.
So for now, the most probable scenario is that the market will move down first to grab liquidity and then reverse upward,
because shorts are opening in the market and there is already clear liquidity resting on the upside.
