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Bitcoin market analysis
There are two key price points to be aware of when "pricking" the needle:
1. The first point is between $64,300 and $64,400, and this price range is based on the W-shaped bottom pattern at $64,400 in the contract market.
2. The second point is around $59,000, and these price points are considered to be the level of the spot market and are a good entry point to consider a "prick" operation.
If investors are unsure whether they should buy or not, they may miss the opportunity as the market's support zone is likely to recover quickly after a deep correction without a chance for a second pullback. Therefore, if there is a strong belief in the bullish market, it is advisable to place orders at key price points, such as the mentioned opening price at the daily level at $69,000.
When analyzing the current Bitcoin market, one of the patterns of Bitcoin operations is to take liquidity upwards and then quickly plunge downwards. This pattern has been repeatedly observed in recent market behavior.
The current position of the liquidity of the bulls is around the price range of $68,300. This suggests that although the Bitcoin market has taken a certain amount of liquidity, it will not be completely depleted, as the market remains strong and avoids the formation of a lower low structure. This could be an opportunity for long traders.
BTC-0.81%
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