Bitcoin price opened trading at the level of $ 84,000 on Sunday 23 March, and the unification phase extends to three days. Multiple derivative trading signals that have been observed in the past 24 hours indicate that BTC may find a bottom.
Bitcoin (BTC), despite the low trading volume of whale signals, purchase decline
Bitcoin (BTC) opened trading at 84,000 dollars on Sunday, March 23, and the monotheism period extends for three days. Looking at the graph below, Bitcoin trading sizes fell from 22,900 BTC trading on Binance on March 20 to 5420 BTC only at the end of Saturday, 22 March.
When the asset price is combined at a decisive support level despite a continuous decrease in trading volume, it often indicates the upward tones.
First, this indicates that Bitcoin investors have implemented significant transactions, which opposes the impact of the lack of activity of retail. Moreover, high frequency traders usually prefer volatile conditions, and not provides a flat bitcoin movement within a narrow range of 1 % wide profit margins.
As a result, this low -mobility market environment allows avoiding OTC fees and carrying out large purchases on topical BTC markets without causing significant fluctuations in prices. These factors explain the reason for the appearance of BTC about $ 84,000, despite a decrease in 75 % in Bitcoin trading sizes over the past few days.
The open interest proposes $ 51.9 billion on the lower configuration to take the BTC price measures
Bitcoin derivative market data shows that the open interest has decreased by 1.77 % to $ 51.98 billion, while the open interest also decreased by 0.54 % to 33.51 billion dollars. Through all the main standards, COINGLASS data is prevalent, with a significant decrease in options by 79.28 %, indicating a decrease in speculation activity.
Nevertheless, the long story ratio remains close to neutrality at 0.9589 over the past 24 hours, as Binance and OKX show a higher mile towards long sites. This indicates that although the open interest is low, current traders are still putting in a possible upper movement mode.
The liquidation data supports lower configuration narration. Over the past 12 hours, $ 4.63 million has occurred in the qualifiers, as short pants represent 806.59 thousand dollars – more than long licenses. This indicates that the declining momentum is absorbed by the upscale merchants.
The current environment indicates that the price of BTC may approach the local bottom three days after the decline. The decisive step exceeding $ 85,000 will verify the healthy thesis, while failure to keep 83,500 dollars can call for more negative exploration. Traders should see the restoration of derivatives and long story fluctuations to confirm the next main step.
Technical analysis of Bitcoin today: BTC to remain binding within $ 88,000 – 83,265 dollars
The Bitcoin price forecast below shows that BTC is still trapped in a narrow range ranging from $ 83,265 and $ 88,000, as speculative signals from spots and derivatives market indicate a long standard of unification.
However, constant integration can also indicate a period of frequency in the market. The price of Bitcoin requires a decisive outbreak from $ 88,000 to $ 83,900 before a clear trend appears.
Fibonacci’s decline levels indicate immediate support at 83,265 dollars, while resistance waves at $ 86363.22. A break above this level can witness that BTC re -testing the resistance of 88,866.76 dollars, indicating a continued rise.
However, the volume of flowing trading, as shown in the bars of the lower graph, indicates poor momentum, which raises the risk of a declining collapse.
If sellers are controlled, Bitcoin may decrease to less than $ 83,265, which offers the following main support at 78,258.52 dollars. Red liquidity areas of more than 91,000 dollars emerge potential supply areas where they can intensify the pressure pressure.
Until a decisive outbreak occurs, Bitcoin indicates that merchants remain careful, pending the confirmation of the trend’s shift.
Related questions (common questions)
The unification of Bitcoin prices by $ 84,000 indicates the decline in the market, as large investors accumulate despite the decrease in trading volumes.
The open interest of $ 51.9 billion indicates that traders are specifically determined, with a slight bias in long rates.
The main support lies at 83,265 dollars, while the resistance is at $ 86363 and 88,866 dollars can indicate the outbreak if it is breached.
Ibrahim
The encryption analyst that covers the derivative markets, macro trends, technical analysis and Defi. His business is characterized by in -depth market visions, price expectations and institutional research on digital assets.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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