Bitcoin has continued its upward move after finding support at the 107,300 level, currently fluctuating around 112,000. On Binance, there has been a notable increase in positive sentiment over the past few days.
While sentiment had been moving in light waves for some time, it turned decisively positive starting on September 6, driving an increase in long position entries. However, there are key risks to watch: if Bitcoin fails to extend its rally and absorption begins while sentiment remains positive, this could create a vulnerable setup.
I believe a “free trading zone” has formed up to the 115K level. Once this zone is cleared, a sharp correction may follow. For this reason, traders should be extremely cautious in this region and consider hedging their positions despite the positive sentiment.
Binance data is particularly important here, as the exchange plays a leading role in market direction due to its high volume and the heavy presence of both retail and whale activity.
Written by BorisD
