Many positive signals have emerged for $BTC at the beginning of the new week.
- The spot buying power is spreading across all major exchanges like Binance, Coinbase, Bitfinet, Bybit indicating that this is a healthy recovery rather than a leverage kill.
- The OI of $BTC has nearly returned to the support level, and the market sentiment is clearly frustrated, all orders opened when #BTC was at 73K seem to have been completely wiped out.
- According to technical analysis, $BTC reacted very positively at the Support Zone, closing a long-legged candle when it hit the 67KXX area coupled with being supported by the EMA20 line indicating that the uptrend is still being strongly reinforced.
- The 300M spot selling pressure at $BTC 73K has now been fully distributed, currently, the buying power is gradually overwhelming the selling pressure with over 160M USD compared to 80M USD of the selling pressure.
There is a high possibility that this will be a positive week for #BTC.😉.