Bitcoin is holding the $20,000 mark with the last of its strength. What levels will BTC go to if it
The price of BTC has risen at the most important and strongest psychological level - $ 20,000. In fairness, it should be noted that technically, if the price is below $ 20,800, then it is worth working only from the short or just to understand that further price reduction is most likely.
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Bitcoin looks very bad on the watch. There is a compression of the strongest psychological level of $ 20,000, or rather the area of $ 19900.
At the moment, the price is under the control line of POC VPVR $20565. This is a good sign for sellers and a bad sign for buyers.
The asset is still moving inside an expanding downward range.
On the other hand, the MACD histogram at four o'clock indicates a higher probability of a hike. If this happens and bitcoin goes above $20,800, then the upward potential will prevail.
It is worth noting that the asset cannot break through and gain a foothold below the neck line, the inverted Head and Shoulders. Which still leaves hopes for a local trend change.
Judging only by the technique, the target after breaking through $ 20,000 will be $18,600 with the probability of going lower - up to $ 17,000.
If the current level is maintained, which is hard to believe, then there will be a rapid increase in the price for $ 21,800 to the area - $ 24,000.
I don't like that when analyzing trading volumes, the first conclusion you make is that there is no asset repurchase, but sales repurchase. A passive buyer does not inspire hopes for holding the mark.
Funding is in a neutral position with a tendency towards negative values. This means that shortists use excessive leverage and pay a premium to longists every 8 hours to hold their positions and balance the margin market.
Historically negative funding indicates the probability of local growth of the asset.
63% of longs on ratio is a lot for growth. This means that there is an accumulation of liquidity at prices below the current ones.
Historically, the increased percentage of longs on ratio indicates the probability of a fall in the asset price.
Disclaimer: not financial advice.
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