The huge Bitcoin spike in long positions will add red flags, Chain Chain Platform Warns
Although the general crypto market is slowly becoming bearish, Bitcoin Continue to stay above the critical support level, which was previously a strong resistance a few days ago. The upward trend of BTC’s update has attracted significant interest from investors, which is the growth of bullish bets, but the future may not be all hope.
Bets that are optimistic about the risk of Bitcoin climbing posture
Bitcoin’s long positions have risen sharply after the recent rise in asset prices, indicating strong belief in its outlook. Advanced Investment and On-chain Data Platform Letters Report Emotional shifts among institutional and retail investors.
According to the platform, Long position In the past three months, crypto exchanges have been occupied. The significant rise over the long period shows that investors and traders are confident in the ongoing trend and gather in the short term.
Although this development is crucial to the current market dynamics of BTC, the glyph warning of a potential wave of liquidation. “Holding now cravings can increase your risk after recent price increases and a brief liquidation,” the platform added.
Letter hints may be new Clearing wave As an overheating market and increasing leverage position, sharp corrections have been made previously. This raises concerns about the sustainability of BTC prices as it hovers around key resistance levels. So far, Alphractal has urged investors to remain cautious, make profits, adjust to stop losses and manage risks sustainably.
Reinvestor interest and confidence in BTC were also observed as whales continue to accumulate assets after the recent uptrend. Glass Festival, a chain platform, reveal Whale investors have recovered their full strength and pushed BTC’s cumulative trend score Achieving a positive level.
Cumulative trend scores are a key metric that measures the strength and consistency of purchases by large holders. Interestingly, the indicator has maintained a positive level since early April, reflecting strong buying pressure despite price volatility.
Data shows that the cumulative trend score for wallets holding at least 10,000 BTC is Nearly perfect accumulation level 0.9. Additionally, wallets containing 1,000 BTC to 10,000 BTC have increased their trend score to 0.7. Recently, as its trend score rose to 0.5 levels, the wallet moved to accumulation as 100 BTC and 1,000 BTC.
BTC’s price form reverse head and shoulder mode
In X postalcrypto information platform coin signal prediction, Bitcoin has reached a new all-time high in the next few weeks. His forecast is based on the daily emerging bullish reversal head and shoulder formation.
Initially, experts pointed out that BTC’s length is $76,000, suggesting that assets may not reach this level again. Look at the mode, The price of Bitcoin It is expected to reach new all-time highs before going back to the $92,600 threshold and forming the right shoulder. After corrections to $92,600, the coin signal pointed to a massive breakthrough that increased BTC to $140,000 by July.
Featured images from Pixabay, charts from TradingView.com
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