The price of Bitcoin registered the highest weekly closure in history, above $ 107,000, which released the path to a new ATH. In the meantime, the bears have intensified their action, which have dragged the levels under the open reach of the previous day, so that enormous concerns are being expressed about the coming price action. On the other hand, the liquidity range of BTC has entered a crucial phase in which a strong conflict between bulls and the bears can be seen as a means to get supremation in the coming days.
Since the BTC price has caused a rebound of the local lows, the whales and the bulls seem to have become more optimistic. As a result, more long traders with massive leverage were placed. This made Retail traders Bullish on Bitcoin and offered a strong boost to the BTC price rally, which almost marked the highlights. Verlets have started to extract the winnings, which seems to be an important reason behind the current downfall.
As suggested by the above data, A hyperliquisic whale who had placed a 40x long trade on Bitcoin, started to take a profit after earning $ 10 million in 24 hours. Interesting is that the whale still holds a huge $ 337 million long position in BTC, which shows a serious conviction. Now the question arises whether the Bitcoin Bull Run has more space or it is time for the output doo
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The daily graph of Bitcoin remains under bullish influence, despite the bearish interference. The price was just confronted with a rejection before he enters the final resistance zone under the ATH, which suggests a final correction before a new high is marked. The volume on balance has fallen, which indicates a decrease in purchase activity with an increase in sale. However, the MA levels mean some hope, because the BTC price could be on its way to a Golden Cross.
The 50/200-day MA is on its way to a bullish crossover, which usually causes a huge revival. That is why the coming monthly closure could have a major impact on the upcoming rally, because a successful completion of a Golden Cross could propel the BTC price above $ 110,000. In the case of a failure, the Star Crypto can start with a strong withdrawal, which extends the correction phase.
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