Good morning, friends ☕️
🚨 BITCOIN WAS BOUGHT UP RIGHT WHERE WE EXPECTED 😏
☝️ Yesterday, I drew your attention to large buy orders around $83,000 and $81,500.
Overnight, the market swept positions again, after which Bitcoin climbed back above $83,000 and Ethereum recovered to
$2,500.
Over the past 24 hours, $822 million worth of positions were liquidated, including $694 million in longs.
And the most interesting part — after a wave of long-position closures, spot buyers began stepping in, while short covering gave the recovery even more momentum.
❗️Now keep an eye on the weekly VWAP — Bitcoin’s average price for the week, weighted by trading volume.
Holding above it could put more pressure on yesterday’s short sellers and trigger another move higher.
❗️But if buyers lose the zone where recent long positions were entered, the market could once again move lower in search of liquidity.
For now, it looks like a battle for the next move. And judging by what’s happening, the most interesting part is still ahead. 🤝
🚨 BITCOIN WAS BOUGHT UP RIGHT WHERE WE EXPECTED 😏
☝️ Yesterday, I drew your attention to large buy orders around $83,000 and $81,500.
Overnight, the market swept positions again, after which Bitcoin climbed back above $83,000 and Ethereum recovered to
$2,500.
Over the past 24 hours, $822 million worth of positions were liquidated, including $694 million in longs.
And the most interesting part — after a wave of long-position closures, spot buyers began stepping in, while short covering gave the recovery even more momentum.
❗️Now keep an eye on the weekly VWAP — Bitcoin’s average price for the week, weighted by trading volume.
Holding above it could put more pressure on yesterday’s short sellers and trigger another move higher.
❗️But if buyers lose the zone where recent long positions were entered, the market could once again move lower in search of liquidity.
For now, it looks like a battle for the next move. And judging by what’s happening, the most interesting part is still ahead. 🤝