On the Market 🟡
Bitcoin continues to rise and is already trading around $91,000.
Due to negative funding (which changed today) and a surplus of shorts, we are being pulled above the technical levels.
The growth will continue until long positions begin to dominate the market and we reach the next significant resistance level, which is in the trading range of $92,000 – $94,000.
A combination of three factors — reaching significant resistance, a repeat shift in funding, and a surplus of longs — should soon trigger a correction. They are pulling this time with a bounce, but I think it won't last long. I believe that all these impulses aim to radically change the market sentiment, and then — arrange a sharp reversal in the opposite direction.
In principle, this is a standard scenario that always occurs, but many do not notice it. This time it is unlikely to change, just a bit prolonged.