🔍 A few notes from analysts about BTC:
1⃣ Opinion of James Vinn (who recently opened a long position of over $500 million+ with 40x leverage): on the weekly MACD we are in the bullish zone for the first time since November/December. The fake-out on Sunday was a trap for longs, and after the drop to $102.2K, major players seem to have exhausted their pressure; moreover, $100K is a strong psychological support with large limit orders below, and against this backdrop, as well as the reversal signal on the weekly MACD, I increased my position, expecting a jump to $118K as early as next week — while staying prepared for short-term volatility and managing risks.
2⃣ Many are talking about a possible "double top," as BTC cannot break the historical high. However, the BFI index shows a different picture: there are no signs of bearish divergence. In a true double top, the BFI would have collapsed, but even during the correction in February-March, it remained neutral, showing no weakness. The strength of on-chain metrics persists - bears will have to wait.
3⃣ Bitcoin is recovering without signs of overheating, which distinguishes this cycle from previous ones. Instead of spikes in buying volumes and funding rates on Binance, there is even a decrease in them amid rising prices. This is a positive signal.
4⃣ Implied volatility is at multi-year lows, and the funding rate is barely positive, indicating a decrease in retail leverage. Instead of the expected growth due to global adoption, it is the long-term investors who are accumulating and holding Bitcoin, forming a "quiet bull run" without active participation from retail traders.
5⃣ Is Bitcoin ready for new historical highs? Here’s what to pay attention to: the price is at a major resistance level; a "hanging man" candlestick pattern is forming; bearish divergence in RSI is observed; a bearish cross in MACD is happening.
6⃣ Meanwhile, a golden cross is almost formed. In the last two cases, Bitcoin rose by 121% and 68%. All eyes are on the target of $110,000.
Are you on BTC?
In longs ❤️
In shorts 🎃
No position 🤷♂️
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