The BTC bounced yesterday on the support at $19500, the next resistance will be at $20800, and especially the $21550 in confluence with the 38.2% Fibo of the last bearish wave, and the MA 62 which is not far away, and the shorts liquidation zone with large spikes on the King Fisher map.
The RSI is in the oversold zone towards 40, the MACD is starting to lose the bearish momentum, and we are starting to see a slight increase in volumes on the OBV, I think a hunt for shorts is in action given the close of Yesterday with a Long Wick Candle showing bulls defended 19.5K well, the question is for how long and how far?
https://www.tradingview.com/x/CdikzYFl/
Many new peaks of liquidations in the south, it's a sign that the Longs are starting to gain confidence and open positions massively but not with large leverage since the large peak in the south is at 18K so from 10X and lower towards 5X to 3X
In the north it's the opposite they are hot with big leverages, and the first big peaks are between 21K and 21.5K, I think the exchanges will first liquidate those closest to the price so the shorts in the north until 21.5K and then move south to Long!
For now we can say that the BTC is starting to show signs of buying strength, but the trend remains bearish in Weekly and Daily, so be careful of a fake break out and then the come back bellow!
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