Bitcoin trend analysis: Potential breakthrough in the cryptocurrency market
The retreat of bears and the rise of bulls
According to the latest chart from Crypto Rover, the buying momentum of Bitcoin has sharply declined, shifting into negative territory. Short-term investors are starting to withdraw, while long-term holders are actively increasing their positions. This structure often appears near market bottoms, before significant price increases. In the past 24 hours, Bitcoin's trading volume has increased by 20%, reaching $47 billion, reflecting panic selling or buying opportunities for strategic investors. A large shark has opened a long position 20 times, worth over $364.35 million, showing increasing confidence in Bitcoin's potential.
The relationship between global liquidity and Bitcoin price
Crypto Rover's analyst also compares the recent price of Bitcoin with global liquidity trends. Historically, when global liquidity increases, BTC prices also tend to rise, even potentially exploding. Currently, the global liquidity index (GLI) reflects a level similar to when Bitcoin conquered the $100,000 mark. This suggests that if this trend continues, Bitcoin may soon surpass or return to previous price levels.
Key indicators for traders to monitor next
Trading volume trend
Maintaining consistently high trading volume will confirm the signal of the end of the capitulation phase, helping investors identify when to gradually reduce sell-offs.
Important support level
The support level of $103,400 remains critical. Breaking or holding above this level will determine the recovery potential of the Bitcoin empire in the near future.
Technical indicators
Monitor the buy and sell signals from the MACD and RSI indicators, especially when the RSI moves out of the oversold zone, currently at 45. Currently, the price of Bitcoin is around $103,693, down 2.2% in 24 hours, with a market capitalization of about $2.06 trillion.
Conclusion
The cryptocurrency market is showing signs of positive change, especially after a strong correction period. Indicators of cash flow and shark actions suggest that Bitcoin is preparing for a major breakout. Investors need to pay attention to liquidity trends, important support levels, and technical signals to seize upcoming profit opportunities.
Source: https://tintucbitcoin.com/da-tang-cua-bitcoin-sap-ket-thuc/
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