While the general cryptography market becomes slowly down, Bitcoin Continue to keep above the main levels of support, which previously acted as a strong resistance a few days ago. The renewed BTC trend has aroused significant interest among investors, as observed by an increase in bruise bets, but the future may not be promising.
Bullish bets on the rise of Bitcoin poses the risk
The long Bitcoin positions increased sharply after the recent increase in the price of the assets, indicating a strong conviction in its perspectives. Advanced investment and data platform on the Alphractal chain reported The change of feeling among institutional and detail investors.
According to the platform, Large long positions dominated crypto exchanges during the last three months. This notable increase in long positions suggests that investors and traders are strongly confident about the current trend and bet on a short -term gathering.
Although this development is essential for the current dynamics of the BTC market, Alphractal warns against a new wave of potential liquidation. “After the recent increase in prices and short liquidations, long holding could now increase your risk,” added the platform.
Alphractal refers to a new new wave of liquidation As an overheated market and increased leverage, previously preceded net corrections. This has raised concerns about the sustainability of BTC prices because it oscillates near the key resistance levels. Until now, Alphractal has urged investors to remain cautious and make profits, adjust their stop-loss and manage the risk in a sustainable manner.
After the recent upward trend, the interest and the confidence of investors renewed in the BTC are also observed among the whales while they continue to accumulate assets. Glassnode, a chain platform, revealed that whale investors are back in force, pushing the BTC accumulation trend score at positive levels.
The accumulation trend score is a key metric that measures the intensity and consistency of large support purchases. Interestingly, this metric has maintained a positive level since early April, reflecting a robust purchase pressure despite price fluctuations.
The data show that the accumulation trend score for portfolios containing at least 10,000 BTC is at a Almost perfect level of accumulation 0.9. In addition, the portfolios containing between 1,000 BTC and 10,000 BTC pushed their trend score at 0.7. Recently, wallet addresses with 100 BTC and 1,000 BTC also moved to accumulation as their trend score rises at 0.5.
The price of the BTC forms the reverse head and shoulder model
In an X jobCrypto Information Platform Signals predicted a major passage to new heights of all time for Bitcoin in the coming weeks. His prediction is based on a reverse head formation and emerging shoulder on the daily time.
At first, the expert noted that the BTC was $ 76,000 long, which suggests that the assets may no longer reach this level. Looking at the pattern, Bitcoin price should reach a new summit of all time before ending up at the $ 92,600 threshold and forming the right shoulder. After correction at $ 92,600, Coin Signals indicates a massive escape which would push BTC at $ 140,000 by July.
Pixabay star image, tradingView.com graphic
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