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The Bitcoin’s Coinbase Premium has turned negatively for the first time in 15 days, indicating a short -term defensive feeling among American investors.
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The future gaps of Bitcoin CME suggest between $ 92,000-92,500 dollars and resistant at $ 96,400-97,400 dollars, a period of trading heading to the range.
Bitcoin Coinbase Premium IndexThat measures the gap between the price of BTC in Coinbase Pro and Binance Exchange, turned into negative after a 15 -day positive period, indicating a potentially declining feeling among American investors.
This decrease coincides with Bitcoin (BTC) to below $ 94,000, and the decline of Premium indicates a decrease in purchase pressure on Coinbase, which is seen as an agent of institutional demand and retail.
CointeleGRAPH has reported early signs of the pressure pressure, as Bitcoin recorded more than $ 300 million in the dummy cumulative size of the cumulative size (CVD) from April 27 to April 29, indicating the activity of the ongoing sale side.
Related: Strategy, Seemler Bag 2k Bitcoin, where the price fell about $ 100,000 last week
This selling pressure continued during the weekend, as it contributed to the low prices, with the anonymous encryption analyst EXITPOMP With reference Bitfinex whales showed a large sale compression compared to Coinbase and Binance.
In addition, approximately 8000 BTC was removed at open interest (OI) through future contract markets, reflecting the low leverage. However, modern data shows that the collected future bids turns into positive, indicating a possible purchase interest in the derivative markets.
Bitcoin has futures for futures in both directions
Bitcoin is at a pivotal turn, and about 94,000 dollars are trading between two CME futures. Gaps range between $ 92,000, 92,500 dollars from two weeks, 96,400 dollars and $ 97400 from the last weekend. Gaps CME often acts as a magnet to make prices, with historical trends showing a tendency to fill these gaps within days.
Bitcoin is expected to test at least one gap this week, with a potential decrease to $ 92,000 more likely after Bitcoin fails to keep its location over the simple 200 -day moving average.
Bitcoin has lost its site over SMA for the first time for the first time since April 11, indicating the shift of the trend in the minimum time frame scheme (LTF).
However, a short-term intermittent price is likely to have a general resistance at 97,000-98,000 dollars (CME GAP 1) and the main support at $ 93,000, where there are multiple liquidity levels.
UB encryption trader Indicate Many of the main areas of attention that must be monitored on X, saying:
“Things are somewhat clean in terms of main levels. 95.5 thousand dollars and 91.9 USD. I personally are not interested in bitcoin trade unless the price is above. Recover 95.5 thousand dollars will be long to 99.1 thousand dollars.”
Related: What will be bitcoin if gold is 5,000 dollars?
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
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