at $66k at press time, the short-term sentiment appeared to be in favor of the bulls. Yet, BTC also has significant resistance levels overhead, and another correction can not be ruled out.
The Fibonacci retracement levels showed that the 78.6% retracement level at $22.9 was defended twice in 2024. Additionally, the higher timeframe market structure remained bullish, with $18.33 as the key swing low to beat. The OBV has trended upward in the past five months, showcasing steady buying volume. Therefore, even though the recent pullback was intense, it is likely that the bulls will come out on top.Therefore, the buying volume was only slightly stronger in the past month. The buyers still have to fight to reclaim the short-term uptrend. The $29 and $34.4 are the next key levels for the bulls to claim as support.AMBCrypto analyzed the liquidation heatmap of the past month.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »