๐ $BTC /USDT: Historic breakout to $80,000 โ shorts wiped out into dust!
๐ Current situation: Bitcoin has crossed a historic milestone, surging to $80,544.99 (+4.97%). The main engine behind the rally is aggressive spot buying by whales. Net inflows of large capital over the past day reached a cosmic +4,100 BTC, and accumulation over 5 days exceeded +5,140 BTC.
โ ๏ธ Red flags of overheating:
Total scalping: The long/short ratio by accounts has fallen to an all-time low of 1.07. The crowd kept shorting right up to the end, triggering a powerful cascade of liquidations.
Insane RSI: The speed of the move pushed RSI(6) on the 4-hour chart to extreme 92.15. The asset is completely overbought; the price has broken away from the EMA(21) support โ by more than $3,300 to $77,237.
Elevated funding: The funding rate is holding at a high level of 0.00790%.
๐ฎ Forecast: The โfuelโ from the bearsโ liquidations has temporarily run out. Buying at the peak of this parabola is extremely risky. A local profit-taking by whales is expected, along with a deep technical pullback toward the $78,500 โ $77,300 range to cool the indicators.
๐ Current situation: Bitcoin has crossed a historic milestone, surging to $80,544.99 (+4.97%). The main engine behind the rally is aggressive spot buying by whales. Net inflows of large capital over the past day reached a cosmic +4,100 BTC, and accumulation over 5 days exceeded +5,140 BTC.
โ ๏ธ Red flags of overheating:
Total scalping: The long/short ratio by accounts has fallen to an all-time low of 1.07. The crowd kept shorting right up to the end, triggering a powerful cascade of liquidations.
Insane RSI: The speed of the move pushed RSI(6) on the 4-hour chart to extreme 92.15. The asset is completely overbought; the price has broken away from the EMA(21) support โ by more than $3,300 to $77,237.
Elevated funding: The funding rate is holding at a high level of 0.00790%.
๐ฎ Forecast: The โfuelโ from the bearsโ liquidations has temporarily run out. Buying at the peak of this parabola is extremely risky. A local profit-taking by whales is expected, along with a deep technical pullback toward the $78,500 โ $77,300 range to cool the indicators.