Dear Friends,
We have witnessed an expected dump in the crytomarket during the week passed.
In our previous articles, we have analysed with the BTC heat map that there are liquidity around 60000 $ level. To make it matched, the whales have dumped the BTC price as well.
If we take out all the liquidity filled, BTC faced a dump and recovered and finally the BTC price came to stable trade around $ 61000 level.
We also witnessed that during the period the BTC dominance has also came down.
This shows that many have got ready for the ETH ETH launch.
But SEC yesterday have resent some forms back to be corrected in the ETH ETH applications.
So we highly anticipate a delay to trade in ETH ETH by this week.
So, we concentrate more on BTC.
We all need to understand in the market that if BTC dumps again, all the Alt coins will also go down massively. There are efforts that everyone to sell in the market. If it happens, there may be pump-with no one in the market to sell. And it is also seen that almost all the altcoins in the accumulation zone as well.
If we analyze BTC price with its heatmap, we could see the liquidity in $62400, $65000 and $ 67000 levels.
But there is no liquidity zone in the downside.
With this what we can draw to a point that the BTC would be pumped back to > $ 62000 level and there would be a forced buying scenario at this level.
We can see a resistance at $ 62000 level. If it crosses, then it move to $ 67800 levels.
There are positive inflows into the BTC ETFs by this week as well. It is reported after 31 million USD on the 25 June Inflow report by SoSo value. ( See the detailed news in the attachment)
If there is high buy again in this range, there will be a upside movement possible in BTC price.
By the way, at the time of writing this article, the global crypto market cap is at $2.25 Trillion, a marginal 0.41% increase over by yesterday.
BTC is at $ 60921 (0.65%) and ETH is at $ 3379 (0.05%).
So have a constant watch with the happenings in the crypto markets!
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