Bitcoin’s $130K Potential: Key Trends and Market Signals to Watch Right Now
- Plan B predicts Bitcoin could hit $130,000 by June with a retest of the RSI 75 level.
- Open interest rises 81.84% to $82.8B with a positive funding rate and long liq. at $7.52M.
- Michael van de Poppe expects buying pressure to accelerate Bitcoin’s growth above key levels.
Bitcoin is attracting interest this month, with analysts noting that it could revisit certain key price points. Analyst Plan B considers revisiting the RSI 75 level as ideal for Bitcoin to move beyond $130,000 by June. The market relies on conquering the $130,000 price point to sustain upward momentum.
Bullish Sentiment Rises Amid Heavy Short Liquidations
According to the analytical platform Coinglass, the overall open interest increased by 4.94% to $75.96 billion, and the OI-weighted funding rate shifted from negative to positive at 0.0041%. The current long-to-short ratio of 1.071 is optimistic, showing that most traders have a bullish outlook. Yet, in the past 24 hours, the amount of long assets liquidated rose to $7.52 million, but is much lower than the $62.08 million for short liquidations.
Bitcoin’s Growth Potential: Holding Key Levels Fuels Momentu…
The post Bitcoin’s $130K Potential: Key Trends and Market Signals to Watch Right Now appeared first on Coin Edition.
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Bitcoin’s $130K Potential: Key Trends and Market Signals to Watch Right Now
- Plan B predicts Bitcoin could hit $130,000 by June with a retest of the RSI 75 level.
- Open interest rises 81.84% to $82.8B with a positive funding rate and long liq. at $7.52M.
- Michael van de Poppe expects buying pressure to accelerate Bitcoin’s growth above key levels.
Bitcoin is attracting interest this month, with analysts noting that it could revisit certain key price points. Analyst Plan B considers revisiting the RSI 75 level as ideal for Bitcoin to move beyond $130,000 by June. The market relies on conquering the $130,000 price point to sustain upward momentum.
Bullish Sentiment Rises Amid Heavy Short Liquidations
According to the analytical platform Coinglass, the overall open interest increased by 4.94% to $75.96 billion, and the OI-weighted funding rate shifted from negative to positive at 0.0041%. The current long-to-short ratio of 1.071 is optimistic, showing that most traders have a bullish outlook. Yet, in the past 24 hours, the amount of long assets liquidated rose to $7.52 million, but is much lower than the $62.08 million for short liquidations.
Bitcoin’s Growth Potential: Holding Key Levels Fuels Momentu…
The post Bitcoin’s $130K Potential: Key Trends and Market Signals to Watch Right Now appeared first on Coin Edition.
Read More