BTC: The Price is Right (Sort Of)
- BTC has a bullish H4 structure, and sizable capital inflows according to the CMF.
- This steady buying pressure could drive prices toward the $90.5k resistance level.
It’s been a wild ride for Bitcoin, folks. One minute it’s down, the next it’s up, and you’re left wondering if you should be holding onto your HODLers or not. But fear not, dear traders, for the price trajectory has been looking decidedly bullish over the past week.
Compared to last Tuesday’s low at $81.1k, BTC was up 6.88% at press time. And if the realized price continues to rise, we might just see a price push toward $150k-$180k. But don’t hold your breath, it’s not like we’ve seen that happen before… 🤦♂️
BTC breaks the $86.8k local resistance
It looks like Bitcoin has finally broken free from its shackles and surpassed the local resistance of $86.8k. And let me tell you, it’s been a long time coming. Since late February, the price has been stuck in a range of $79.2k to $94.3k, with a mid-point at $86.8k. But now, it’s off to the races!
Of course, with great power comes great pullback, and Bitcoin did experience a minor 2% pullback after the move. But don’t worry, it’s just a minor setback. The 4-hour chart is still looking bullish, with higher highs and higher lows over the past week. It’s like a never-ending rollercoaster, folks! 🎢
The CMF (Chaikin Money Flow) is indicating bullish momentum with a reading of +0.16, reflecting strong capital inflows. And the OBV (On Balance Volume) has gradually risen over the past ten days, but has yet to reach the local highs observed on the 3rd of March. It’s like a game of musical chairs, but with money! 🎶
So, what’s next for Bitcoin? Well, there are a few key resistance levels to keep an eye on: $90.5k and $94.3k. These are the immediate bullish targets, but don’t get too excited just yet. We’ve seen this movie before, folks… 🍿
The 1-week liquidation heatmap showed rejection at the $88.2k liquidity cluster on 24th of March. And get this, folks: another significant liquidity pocket has formed between $88.9k and $89.7k, just below the $90k psychological level. It’s like a big ol’ game of musical chairs, but with money and Bitcoin! 🎶
But don’t get too comfortable, folks. A bearish reversal could occur in the $89k-$89.7k range. Swing traders, take note: it might be time to cash in your chips. And as for the next resistance at $90.5k, well, let’s just say it’s going to be a real challenge for the bulls… 🏋️♂️
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2025-03-26 00:09