Bitcoin (BTC) $97,831.4 And the rest of the crypto money market was limited to investors by following a stagnant course last weekend. While market participants are waiting for the US inflation data to be announced in the coming days, the price of Bitcoin is expected to be a wavy course in the short term. In this process, where liquidation levels will play an important role, a new mobility can be seen in the price of the largest crypto currency.
Liquidation levels should be followed carefully in Bitcoin
Recently Bitcoin price He made important movements with liquidity collection moves at the support levels. During this period, many short positions were liquidity and a rapid recovery from the level of 94 thousand 500 dollars and the price reached the current levels. However, this rise is moving towards new levels of liquidation, and these levels can lead to the withdrawal of the price in the short term.
According to Coings’s data, BTC is expected to liquid the $ 200 million in the level of $ 97 thousand 800 dollars after the BTC’s short -$ 100 million Short position in 95 thousand dollars. Possible liquidations at these levels may cause the price to withdraw to up to $ 95 thousand 500. On the other hand, technical indicators show that Bitcoin’s price breaks the resistance of 97 thousand 800 dollars.
Technical data indicates short -term correction
The stochastic RSI used in the technical analysis reaches the excessive purchase levels and gives the signals of a short -term correction. According to this indicator, the price of Bitcoin may decrease and for a while Falling Triangle Formation It may be consolidated in it. In this process, the price can move in a narrow range up to the peak point of the formation.
On the other hand, the 50 -day moving average of $ 98 thousand 700 dollars in the level of a strong resistance said. If BTC can break this level, the onset of a new upward trend can be confirmed. However, short -term investors need to be careful before these levels.
Analysts expect Bitcoin to move in a narrow range in the coming days. In this period, investors should focus on liquidity strife near $ 98 thousand. Analysts BTCHe emphasizes that if the new buyers can be released and the price can be transported to higher levels if they exceed 98 thousand 700 levels.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
