The price of Bitcoin rose from $84,000 to $87,000 during the early Asian trading session on Monday, a period that is typically characterized by low trading activity. Despite this rise, the Relative Strength Index indicates a state of overbought conditions, and whale tracking platforms have detected large buy and sell orders for both Bitcoin and Ethereum within minutes. Low trading volume but strong price movement? This might be a clear example of **liquidity harvesting** - where major players close their short positions before converting them into targeted long positions.
There are no major news from the Federal Reserve or ETF updates to justify this move, suggesting that it may not be a natural rise.
**If you are trading, stay vigilant:**
- **📈 Long Positions**: If you are already riding the wave, consider taking profits in increments and look for a good exit.
- **📉 Short Positions**: If you are not heavily in debt, you are probably fine. Returning to around $83,000 is a reasonable target.
- **💎 Bitcoin Holders**: If you are looking for long-term investment, hold onto it. Bitcoin could potentially reach over $120,000, but **this is not the right time**.
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