Yesterday Bitcoin (BTC) reached a new maximum of all time (ATH), going down to $ 111,999 on Binance Exchange before immersing themselves slightly to about $ 110,000 at the time of writing. While the largest trend remains bullish, some analysts now include short -term pulback.
Bitcoin remains bullish but a bit of expected pullbacks
According to a recent post of Cryptoquant QuickTake of the collaborator Borisvest, the early warning signals suggest that BTC could face a short correction. The analyst observed that if the momentum does not resume soon, Bitcoin could have difficulty maintaining his bullish trajectory.
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Binance Taker Buy/Sell Volume showed a remarkable peak of aggressive purchase orders – usually a bullish signal – but also the sales volume risen In tandem, effectively absorbing most of the demand. Despite this increase in the purchase volume, the BTC price did not respond proportionally, suggesting the distribution or sales pressure.
For the unboted, Binance Takers acquires/sells the volume measures the amount of aggressive purchases compared to the sale on the exchange using market orders. A higher purchase volume indicates a strong interest in the buyer, while the higher volume margins sell a volume of stronger sales signals.
In addition, Binance Open Interest has increased during the recent price rally, reporting an influx of lever positions. While the increase in the open interest can support further earnings, the reaction of the summit prices raises concerns about Bitcoin short -term strength.
In the meantime, financing rates remained mostly neutral during the rally. However, the most recent thrust of a new ATH has seen slightly positive BTC financing rates, mentioning the increase in long exposure and renewed bullish feeling.
The breakout also triggered significant short liquidations, probably fueling a short compression. The data from the Coneggio Ila show that in the last 24 hours, $ 521 million positions have been liquidated, of which $ 448 million.
The market needs a break before climbing higher
In conclusion, the cryptoquate collaborator observed that, despite the emerging caution signs, the overall general structure of Bitcoin remains intact. However, the market is now seeing the first signs of a potential short -term pullback, in particular due to the pointed nature of the move.
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Other analysts share a similar perspective for BTC. For example, the encryption analyst Christian Chifoi suggested That the current action of prices can be a deceptive move designed to trap the upward traders, potentially pushing BTC to $ 97,000 before the start of the final rally.
Having said that, the recent weakness Observed in the US dollar index (Dxy) has fueled hopes for a reallocation of the capital to alternative activities, including BTC. At the time of the press, BTC exchanges at $ 110,885, up 1.1% in the last 24 hours.
In the foreground image from Usplash, Cryptoquant and TradingView.com graphics