Bitcoin(BTC): Sellers Are Showing Dominance / Get Ready!

Another week closer to Halving, and this should be the one. As we are expecting the halving to occur this week, we are also seeing that both the new ATH and previous ATH zones have been fully broken and bears have taken over those zones.

Now that most of the liquidity has been taken out (in a smaller timeframe), we still see some more of that same liquidity to be near $50K.

Markets are greedy, indicators are broken, open interest is broken, and the funding rate is bearish.

It seems like a good time for a restart, in our opinion. Remember, a good correction is healthy for further bullish markets!

Swallow Team

Comment:

Bitcoin has rejected the upper re-test, which is just as we need it (for a bigger picture / Timreframe movement).

We are keeping an eye now on that $61K zone, which is being re-tested right now as well. Upon breaking it, we should see some very good liquidity movement to lower zones here!

Comment:

The successful rejection of the 200EMA price has shown us some good demand for further downward movement.

As we are approaching the import support zone, we have two possible scenarios here: one is if we see a breakdown, and the other is if we see strong support near current zones!

Comment:

Bitcoin has showed us a good demand for lower zones where we broke that supportive zone and re-tested if nicely as well.

As of now we are looking for price to trade slightly below current marketprice and in next 48hours we want to see a further move to lower zones here.

Comment:

Game has started 😉