#BTC

#BTC
BTC Market Analysis:

The Bitcoin price is consolidating at a high level, just like we mentioned yesterday, there has been an outflow of funds from Bitcoin. The driving force behind the current rise in spot prices is not very obvious, and the market driven by futures is not particularly solid. Additionally, there is important CPI data coming out tonight, so it's better to be cautious for now!

On the smaller time frames, a double top structure has appeared; I estimate that many people might be looking to short here? However, I don't think this is the best position. If we look at the liquidation map data, there is still quite a bit of liquidity around 115000 above, so we need to be mindful of risks!

However, the market may not be this extreme. A more cautious approach would be to short a little around 109800, and if it breaks the recent high on the small time frame, then cut losses or set a small stop loss!