Looks Like A Shakeout, Too Strong! (Bearish & Bullish)
2025-01-08
Category: None

This current move we are witnessing on BTCUSDT trading pair has the smell of a shakeout, it is just happening too fast and too strong. But, let us consider all the signals before reaching any conclusions.

➖ We have a lower high 7-Jan., when we compare to the peak 17-Dec. This is a bearish signal.

➖ Trading volume is relatively high. It is the highest since the previous drop. The volume is red, which is also a bearish signal.

➖ $430,000,000 Total liquidated in the last 24 hours.

➖ Both the lower high and high bearish momentum points toward lower prices. There is very strong support around $90,000 and $92,000. Bitcoin is ultra-bullish above these levels, market conditions remain the same.

While we have some bearish action today and this action is very strong, this can end up being just a shakeout.  After the over-leveraged trades are liquidated, the market can resume with its growth. 

This is all part of the consolidation period, the sideways action.

Nothing changes,  Bitcoin is going up! 

Namaste.