We analyzed current signals for BTC based on data from options markets, liquidations heatmap, funding rates and open interest:
The Bottom Line: Last week, traders took on a defensive stance (hedging), with fears of a pullback to $84,000.
Read this fresh blog article for details.
altFINS’ BTC trade setup shows that after moving sideways for weeks, price broke out of a Channel Down pattern, which signaled a bullish trend reversal and price reached our near-term target of $94,000, where it got rejected so far.
If it breaks above that, it could continue to recover to $100,000 next. But there are likely to be some pullbacks along the way, providing new entry opportunities during this trend reversal path. We would be buyers on pullbacks to $88K key level again.
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