Daily BTC Review

in the market over the last 24 hours, CoinGlass: ~38K traders, totaling ~$99 million - 30% long positions and 70% shorts positions.

Did you notice that there are actually fewer liquidations on the rise? The move was much faster than the decline, and the amount of liquidations is less, cumulatively.

BTC bounced up after fully testing the entire support range - a perfect set-up workout. But we should talk about the continuation of growth to 40K only after the price fully consolidates above 38K.

I admit one more decline to the support range, but it has already shifted upwards as much as possible: the upper boundary is 37.5K, the lower boundary is 37K. Even if we go down here and bounce up again, it will not be possible to go back down. There will definitely be a breakdown of the resistance zone.

But we are watching the current breakout. I would like to finally see the price consolidation above 38K to confidently say that the upward movement continues.