A dormant whale withdrew 171 BTC worth 15.79 million USD from Binance during the recovery phase, signaling accumulation and the potential end of the downtrend if Bitcoin breaks the lower-high region.
BTC increased by more than 8.3% in the last two sessions, while OI and volume declined, reflecting a wait-and-see sentiment. The focus shifts to the resistance of the downward trendline and the dense liquidation levels on both sides.
MAIN CONTENT
Whales have re-accumulated 171 BTC, coinciding with the recovery, suggesting increased buying pressure.
Price is sideways, volume down 21%, and OI down 0.70% indicates hesitation.
The downward trendline and liquidation levels of 91,138 USD and 94,490 USD are anchoring price direction.
The downtrend of Bitcoin is weakening.
BTC is still in a lower high/lower low structure, but has returned to the lower-high region; a definitive break upward will confirm a bullish reversal.
The recovery momentum is spreading across the market, helping BTC rise more than 8.3% in the last two sessions. This improvement is accompanied by an increase in whale interest, enhancing the probability of escaping the prolonged downtrend.
If the price breaks above the current lower-high region, the technical structure will shift to bullish, opening up for higher continuation.
Dormant whales are back and accumulating 171 BTC.
A wallet '34qy7UD' has resumed activity after 1 year, withdrawing 171 BTC worth 15.79 million USD from Binance, signaling accumulation.
According to Onchain Lens, net withdrawals from exchanges often coincide with the accumulation phase of whales and sometimes precede trend reversals. This move appears right when the market is recovering, potentially increasing local buying pressure.
Open Interest and volume indicate hesitation.
BTC is sideways around 93,050 USD, up 0.05% in 24 hours; volume down 21% to 70.16 billion USD and OI down 0.70% to 60.19 billion USD.
Price is sideways accompanied by a decline in market participation reflecting tightening leverage as traders await clear direction. Silent OI indicates the risk of a false breakout, due to a lack of new capital supporting a sustainable breakout.
BTC tests resistance at the downward trendline.
The price has regained support at 92,000 USD but is still blocked by the downward trendline; a clear break is needed to confirm the reversal.
The daily chart shows that the recent uptrend brought BTC to resistance levels that have triggered reversals multiple times. If buying pressure from whales is insufficient to break through, the price may correct.
Conversely, a decisive close above the downward trendline will pave the way towards 100,000 USD. ADX at 37.27 indicates strong momentum, but the 200-day EMA remains above the price, emphasizing a broader bearish tendency.
Key liquidation levels are constraining price direction.
CoinGlass data records two major liquidation clusters around 91,138 USD and 94,490 USD, increasing the risk of sweeping both sides.
Traders are holding long positions of 571.51 million USD and short positions of 681.32 million USD around these levels. The dense positions on both sides create a tug-of-war, easily causing short-term volatility and false breaks when liquidity is swept.
Conclusion
Whales accumulating and strong momentum (ADX) indicates that the breakout door is open, but the downward trendline, weakening OI/volume, and dense leverage keep the outlook cautious until a confirmed breakout occurs.
Frequently Asked Questions
What confirms Bitcoin escaping the downtrend?
A decisive close above the lower-high region and the downward trendline on the daily frame, accompanied by OI and volume surging, confirms new capital flow.
What does the 171 BTC withdrawal by whales imply?
Withdrawing from the exchange often implies long-term accumulation, reducing immediate selling supply and potentially supporting the recovery, especially when synchronized with market improvement.
Which liquidation levels are noteworthy currently?
According to CoinGlass, 91,138 USD and 94,490 USD are two major liquidation clusters, with 571.51 million USD long and 681.32 million USD short, easily causing two-sided volatility.
Source: https://tintucbitcoin.com/ca-voi-chuyen-158m-btc-bitcoin-100-000/
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