Bitcoin’s rally is hitting turbulence. The ascent toward the coveted $111K peak is stalling, as sellers emerge to challenge the bulls near record highs.
The price teeters precariously, unable to decisively conquer this key level. Expect a period of sideways shuffling or a healthy pullback as the market digests its next move.
Technical Analysis
By ShayanMarkets
The Daily Chart
Bitcoin’s ascent to the $111K summit is losing steam, gasping for air as it nears its peak. This rally, once a raging bull, now stumbles, unable to conquer the $110K stronghold. Could this be the dreaded double-top forming? A chilling sign that the bears are awakening, ready to drag Bitcoin back down the mountain.
Bitcoin’s dancing a tightrope between glory and gravity. Trapped between its $111K all-time high and a $103K-$104K fair value gap, the king of crypto is at a crossroads. The bulls seem winded, hinting at a possible pit stop – a short-term pullback and more sideways shuffling within this zone. But don’t count them out yet! This FVG could be Bitcoin’s secret weapon, a launchpad waiting to ignite another surge toward that elusive $111K peak. Will it hold, or will the bears drag BTC into a deeper slumber? Stay tuned.
The 4-Hour Chart
Bitcoin’s 4-hour chart just flashed a warning: the ascent to $111K has stalled. Bulls couldn’t crack this ceiling, facing a fierce wave of sell orders. This rejection near the all-time high isn’t just a stumble; it’s a sign of heavy distribution. Consider $111K a formidable fortress for now – breaching it won’t be easy.
Bitcoin’s price is currently caught in a tug-of-war between two powerful liquidity magnets: a tantalizing pool just shy of $105K and another lucrative zone above $110K. Think of these as watering holes for institutional whales. Their hunger for liquidity could whip up a frenzy of short-term volatility. Expect a sideways shuffle between these price points until a major player triggers a breakout. The likely catalyst? A decisive raid on one of these liquidity pools, sending ripples through the market.
Sentiment Analysis
By ShayanMarkets
Binance Derivatives tells a 45-day tale of the tape: Takers are relentless sellers. Yet, Bitcoin stubbornly clings to its $100K-$110K cage. The real kicker? Cumulative Volume Delta (CVD) bleeds red – a persistent, downward drag on price that defies the holding pattern.
A relentless torrent of sell orders is slamming the market. The Cumulative Volume Delta (CVD) screams “SELL!” Yet, the price stubbornly refuses to break. Is this the calmbeforethe storm, or something more intriguing? Whispers of institutional accumulation echo through the trading floors. Are whales quietly feasting while the minnows panic? The price action holds the answer, a silent battle being waged beneath the surface.
Bitcoin’s price is defying gravity. Despite relentless selling pressure, it’s stubbornly holding its ground, hinting at an emerging bedrock of support. Imagine a coiled spring: the longer it’s compressed (within this price range), the more explosive the potential release. If Bitcoin can continue to absorb the selling waves, brace yourselves – a bullish surge could be imminent, potentially igniting a fresh climb.
Thanks for reading Bitcoin Price Analysis: BTC at Risk of Pullback as New ATH Hopes Diminish
