🚨 Crypto Market Update & Trading Plan 🚨
1. Bitcoin (BTC) Market Condition
Strong Bullish Move: Bitcoin has been forming large bullish candles for several consecutive days, showing a massive upward move of around $15,000 within just three days.
Weekly Chart Analysis: The weekly chart is showing approximately 22%–25% growth, which resembles the strong behavior seen in the first weekly candle at the end of the 2022 bear market.
Bull Run Confirmation: We can be 99% confident that the market has entered a full-fledged bull run only if the current weekly high is broken and the weekly candle closes above it. The 200 Simple Moving Average (200 SMA) has already been broken.
Short-Term Correction Levels: Some traders are expecting a correction toward $65,000, but if that happens, there is a risk of losing bullish momentum and falling toward $52,000–$54,000. However, based on the current market structure, the more likely scenario is a minor retest toward the $72,000–$74,000 Fair Value Gap (FVG) before continuing higher.
3. Altcoins (ETH, SOL, BNB) Update
Ethereum (ETH): ETH has broken through its resistance level. After a minor retest, there could be a potential entry opportunity for a long trade.
Solana (SOL): SOL is currently trading near the $98 level, which was a previous high. If this resistance is successfully broken, the next target could be around $150.
4. Market Liquidity & Derivatives
Massive ETF Inflows: More than 8,750 BTC flowed into Bitcoin ETFs in a single day recently, while nearly 8,000 BTC entered the day before. The market is currently being driven primarily by spot volume.
Open Interest & Funding Rate: Open Interest continues to rise, while the funding rate has reached around 0.01%.
Liquidation Risk: During the upward move, short liquidations have remained relatively low at around $100 million. However, if the market dumps, there is a massive concentration of long liquidations worth approximately $3 billion–$5 billion down toward the $70,000 area.
$BTC
1. Bitcoin (BTC) Market Condition
Strong Bullish Move: Bitcoin has been forming large bullish candles for several consecutive days, showing a massive upward move of around $15,000 within just three days.
Weekly Chart Analysis: The weekly chart is showing approximately 22%–25% growth, which resembles the strong behavior seen in the first weekly candle at the end of the 2022 bear market.
Bull Run Confirmation: We can be 99% confident that the market has entered a full-fledged bull run only if the current weekly high is broken and the weekly candle closes above it. The 200 Simple Moving Average (200 SMA) has already been broken.
Short-Term Correction Levels: Some traders are expecting a correction toward $65,000, but if that happens, there is a risk of losing bullish momentum and falling toward $52,000–$54,000. However, based on the current market structure, the more likely scenario is a minor retest toward the $72,000–$74,000 Fair Value Gap (FVG) before continuing higher.
3. Altcoins (ETH, SOL, BNB) Update
Ethereum (ETH): ETH has broken through its resistance level. After a minor retest, there could be a potential entry opportunity for a long trade.
Solana (SOL): SOL is currently trading near the $98 level, which was a previous high. If this resistance is successfully broken, the next target could be around $150.
4. Market Liquidity & Derivatives
Massive ETF Inflows: More than 8,750 BTC flowed into Bitcoin ETFs in a single day recently, while nearly 8,000 BTC entered the day before. The market is currently being driven primarily by spot volume.
Open Interest & Funding Rate: Open Interest continues to rise, while the funding rate has reached around 0.01%.
Liquidation Risk: During the upward move, short liquidations have remained relatively low at around $100 million. However, if the market dumps, there is a massive concentration of long liquidations worth approximately $3 billion–$5 billion down toward the $70,000 area.
$BTC