CryptoPhoenix
Looking at this trend, Bitcoin is bound to fall.
First, let's talk about the technical aspects. The current price is $91,383, having failed to break through the 91,500 level after three attempts. On the 4-hour MACD, the red histogram is shrinking, RSI is only at 58 and shows no strength, and the upper Bollinger Band is pressing down hard. Based on probability, the price is likely to retrace and find support at the middle band, around 90,500.
What's more dangerous is the liquidation scenario. The range from 91,500 to 92,000 is packed with positions—over $300 million in leveraged long positions
First, let's talk about the technical aspects. The current price is $91,383, having failed to break through the 91,500 level after three attempts. On the 4-hour MACD, the red histogram is shrinking, RSI is only at 58 and shows no strength, and the upper Bollinger Band is pressing down hard. Based on probability, the price is likely to retrace and find support at the middle band, around 90,500.
What's more dangerous is the liquidation scenario. The range from 91,500 to 92,000 is packed with positions—over $300 million in leveraged long positions
BTC1,47%