BTC: To the Moon or Down the Drain? 🚀

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So, you wanna know about Bitcoin, huh? 🤑 Well, let me tell you, folks, it’s been a wild ride. Our beloved BTC has lost some steam, and that $111K all-time high is looking like a pipe dream… for now. 🚭

It’s like trying to get to the early bird special at the deli – everyone wants in, but the line is too long. The price is struggling to reclaim its former glory, and we might be in for a period of consolidation or, you know, a big fat correction. 🤯

Technical Schmechnical Analysis

By the illustrious ShayanMarkets (no relation to the famous deli)

The Daily Chart: A Comedy of Errors

Bitcoin’s rally toward $111K has been a joke – and not the funny kind. It’s like watching a clown car crash into a wall. The price is losing momentum, and we might be looking at a double-top pattern. You know what that means… 🤡

Currently, BTC is stuck in a price range that’s tighter than a pair of skinny jeans. It’s bounded by the $111K ATH and a fair value gap that’s just begging to be filled. Given the weakness in bullish momentum, we might see a short-term rejection and more consolidation. But hey, that FVG might just act as a demand zone and save the day! 🤞

The 4-Hour Chart: A Thrill Ride

On the 4-hour timeframe, BTC failed to print a new higher high above $110K. It’s like trying to get a cat to do tricks for treats – it just ain’t happening. This price action confirms that selling pressure is still king, and $111K is the ultimate barrier. 🚫

Bitcoin is now trading between two liquidity zones that are more attractive than a free buffet. These zones are like catnip for institutional players, and they might just drive price volatility in the short term. Buckle up, folks! 🎢

Sentiment Analysis: A Mixed Bag

By the incomparable ShayanMarkets (still no relation to the deli)

Over the past 45 days, taker users on Binance Derivatives have been selling like crazy. But Bitcoin has remained range-bound, like a teenager stuck in a never-ending loop of angst. The Cumulative Volume Delta (CVD) has been negative, but the price has held steady. It’s like a game of tug-of-war – who’s gonna win? 🤔

This ongoing divergence between sell-side flow and stable price action is like a bad joke. But seriously, it might be a sign that Bitcoin is forming a strong base. If the current structure holds, we might see a bullish breakout and a renewed uptrend. Fingers crossed! 🤞

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2025-07-08 14:04