📷$BTC When you're short on BTC, always take profits. Don't try to make too much, otherwise the rebound can be very quick, up to 81k. Then you start to panic, and then you liquidize everything.
📷$BTC Update
💡Bitcoin began its rise over the past two days, and one reason for the increase was the continued bullish trend of the S&P 500, which helped propel Bitcoin upward. Bitcoin also managed to fill part of the ⏺CME Gap($77,545-$77,030) that had formed at the start of the week.
📊Now, considering Bitcoin’s technical conditions on the one-hour timeframe, there’s a possibility that after breaking support lines, #BTC could begin to decline. A key trading level Bitcoin needs to hold is $75,800. If it drops below that level with strong momentum, we could expect further decline.
⚠Overall, we must keep an eye on the Iran-U.S. negotiations, as any developments could impact the market outlook. More than ever, it’s crucial to practice solid risk management these days.
🔴Cumulative Short Liquidation Leverage: $77,740-$77,000
🟢Cumulative Long Liquidation Leverage: $75,440-$74,430
📷$BTC funding rates have hit their most negative levels since 2023, per Glassnode.
Historically, deeply negative funding rates have coincided with local bottoms, including March 2020, mid-2021 and the FTX collapse in 2022.