๐ $BTC /USDT: Bitcoin surges toward $80,000 amid a cascade of liquidations!
๐ Current situation: Bitcoin put on a real show at the opening of U.S. trading, jumping to $79,745.51 (+4.66%). The growth engine was the spot market โ net inflows from whales over the past day amounted to a powerful +2,984 BTC, and over 5 days it exceeded +4,082 BTC.
โ ๏ธ Red flags in futures:
Fuel is running out: Open interest in futures was instantly reduced to 8,370M amid a massive spike in taker buys. The rise was driven by a forced shave of shorts (short squeeze), and the bearsโ remaining stop orders above have run out.
Critical overheating: The RSI(6) indicator on the 4H chart broke through the ceiling and is at 90.29. The asset is totally overbought, so entering a long at current prices is extremely risky.
Price has pulled away from the 21 EMA โ $77,164 โ at an unprecedented distance.
๐ฎ Forecast: After a possible false poke at the psychological level of $80,000, the market urgently needs a cooldown. A quick profit-taking event and a technical pullback toward the $78,500โ$77,300 area are expected.
๐ Current situation: Bitcoin put on a real show at the opening of U.S. trading, jumping to $79,745.51 (+4.66%). The growth engine was the spot market โ net inflows from whales over the past day amounted to a powerful +2,984 BTC, and over 5 days it exceeded +4,082 BTC.
โ ๏ธ Red flags in futures:
Fuel is running out: Open interest in futures was instantly reduced to 8,370M amid a massive spike in taker buys. The rise was driven by a forced shave of shorts (short squeeze), and the bearsโ remaining stop orders above have run out.
Critical overheating: The RSI(6) indicator on the 4H chart broke through the ceiling and is at 90.29. The asset is totally overbought, so entering a long at current prices is extremely risky.
Price has pulled away from the 21 EMA โ $77,164 โ at an unprecedented distance.
๐ฎ Forecast: After a possible false poke at the psychological level of $80,000, the market urgently needs a cooldown. A quick profit-taking event and a technical pullback toward the $78,500โ$77,300 area are expected.