BitcoinLong
Watch out for this huge Bitcoin capitalization
Same same but different, last week on ETH we had a simmilar situation in the weekend a huge liquidation spike.
Looking at the bitcoin chart it looks it wants to fall and does the same.
So I expect the whales will drop the price in a same liquidation spike as ETH last weekend.
When? I dunno can this weekend but not too long.
The BTC price will drop to the demand zone at 87k level.
That's the most logical level the price will find support.
The positive thing is when the price holds at 87k with a pinbar and bought up again.
You can be 99% sure the price will go up in the upcoming months and we see an alt season.
If the price falls down to 70k then it will take a lot longer to recover.
So best thing is you can place a limit order at the 87k area. Or just wait when the capitalization is over.
Looking at the bitcoin chart it looks it wants to fall and does the same.
So I expect the whales will drop the price in a same liquidation spike as ETH last weekend.
When? I dunno can this weekend but not too long.
The BTC price will drop to the demand zone at 87k level.
That's the most logical level the price will find support.
The positive thing is when the price holds at 87k with a pinbar and bought up again.
You can be 99% sure the price will go up in the upcoming months and we see an alt season.
If the price falls down to 70k then it will take a lot longer to recover.
So best thing is you can place a limit order at the 87k area. Or just wait when the capitalization is over.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.