#TradingType101
Bitcoin's Dance Between Correction and Rebound ?
Bitcoin is currently in a corrective phase after hitting its ATH of $111,968 on May 22, now trading around $104,536. But don't worry - on-chain data suggests exciting possibilities ahead!
#Key Insights:
* Liquidity Magnet: A significant cluster of liquidations at $109,933 could pull BTC prices toward this level.
Bullish Sentiment Persists: Despite the pullback, funding rates remain positive (0.005%), indicating traders are still betting on upward movement
Technical Levels to Watch:
- Support: $103,952 ( bounced from here)
- Resistance: First $105,000, then $106,307
- Target: $109,000 liquidity zone
Recent 4-hour charts show BTC bouncing between $103,864 and $105,936, confirming this consolidation phase.
