#BTC Have a profitable week everyone!
Broadly speaking, the chart remains unchanged, despite a small bear squeeze on Friday.
There are still two blocks of short bets overhead:
* $80k–$81k — where there is a chance we could reach during the day;
* $83k–$84k — where it would be harder to squeeze higher without a serious spot buyer and market maker money.
Around $2 billion in short liquidity is concentrated at these levels. Meanwhile, below, around $73k, a long pool of more than $5 billion has formed. In the current situation, there simply isn’t enough money above to satisfy all the longs. The same picture appears on higher timeframes: about $23 billion in longs versus $10 billion in shorts. Until this imbalance unwinds, there will be no “to the moon.”
The market is waiting for inflation data on Friday. Sideways trading is likely until the end of the week; in the case of neutral figures, we may once again squeeze out the short sellers’ stop losses.
The current market deleveraging may be preparation for an upside reversal. However, there are still no signs of an actual reversal: spot volumes are not increasing, and the reports about ETF inflows look like manipulation — their volumes do not match the overall volume even on futures.
Broadly speaking, the chart remains unchanged, despite a small bear squeeze on Friday.
There are still two blocks of short bets overhead:
* $80k–$81k — where there is a chance we could reach during the day;
* $83k–$84k — where it would be harder to squeeze higher without a serious spot buyer and market maker money.
Around $2 billion in short liquidity is concentrated at these levels. Meanwhile, below, around $73k, a long pool of more than $5 billion has formed. In the current situation, there simply isn’t enough money above to satisfy all the longs. The same picture appears on higher timeframes: about $23 billion in longs versus $10 billion in shorts. Until this imbalance unwinds, there will be no “to the moon.”
The market is waiting for inflation data on Friday. Sideways trading is likely until the end of the week; in the case of neutral figures, we may once again squeeze out the short sellers’ stop losses.
The current market deleveraging may be preparation for an upside reversal. However, there are still no signs of an actual reversal: spot volumes are not increasing, and the reports about ETF inflows look like manipulation — their volumes do not match the overall volume even on futures.