On $BTC we observe a real absorption of sales and a willingness of the market to maintain the value of this zone.
Sellers are hitting, but the price is no longer really extending downwards. This is typical of a market that is losing its selling momentum.
As long as the price remains above 87k, the bias remains bullish, and a continuation towards 90k seems the most likely.
The heatmap clearly shows the next liquidity magnet above, around 90k. This zone has already served as the upper boundary of the range and remains filled with orders. In this type of context, the market statistically has a higher chance of retesting this liquidity than immediately heading back towards the lows, especially in the absence of significant selling pressure.
Considering that it is the weekend, the safest option would be to wait for the markets to reopen to position ourselves; I never fully trust the information the market gives us during the weekend.
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On $BTC we observe a real absorption of sales and a willingness of the market to maintain the value of this zone.
Sellers are hitting, but the price is no longer really extending downwards. This is typical of a market that is losing its selling momentum.
As long as the price remains above 87k, the bias remains bullish, and a continuation towards 90k seems the most likely.
The heatmap clearly shows the next liquidity magnet above, around 90k. This zone has already served as the upper boundary of the range and remains filled with orders. In this type of context, the market statistically has a higher chance of retesting this liquidity than immediately heading back towards the lows, especially in the absence of significant selling pressure.
Considering that it is the weekend, the safest option would be to wait for the markets to reopen to position ourselves; I never fully trust the information the market gives us during the weekend.