BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\nAt the time of writing, the Bitcoin price stands at $63,370, recording minor losses of 0.3% compared to Tuesday\u2019s trading session.\u00a0<\/span><\/p>\nFeatured image from DALL-E, chart from TradingView.com<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"According to technical analyst InspoCrypto, the current state of the Bitcoin (BTC) market reflects mixed sentiment and potential for volatility, particularly as the Bitcoin price hovers between $63,000 and the $64,000 mark.\u00a0 Bitcoin Price Analysis InspoCrypto\u2019s analysis indicates that the maximum slippage recorded was 16.5, which points to moderate liquidity in the market.\u00a0 A volume delta of 415.848 million suggests a cumulative imbalance between buy and sell orders, with increased buying pressure supporting the recent price rise. This indicates that liquidity is sufficient to prevent sudden price shocks. Related Reading: Solana (SOL) Consolidates in Symmetrical Triangle \u2013 Analyst Reveals $160 Target On Breakout Hyblock Capital\u2019s heatmap analysis reveals critical liquidation levels based on traders’ leverage positions. Notably, substantial liquidity exists around the $60,000 and $64,000 zones, indicating potential resistance just above the $64,500 mark due to a heavy cluster of short liquidations.\u00a0 Conversely, long liquidations are concentrated around $61,000, which could serve as a significant support level for the Bitcoin price. A breach of $64,000 may trigger short liquidations, potentially driving prices higher, while a drop below $61,000 could lead to cascading long liquidations. Examining the distribution of open interest (OI), significant concentrations are found in the $64,200 to $64,400 range. This suggests strong trader positioning, indicating that a substantial move away from this zone could lead to increased volatility.\u00a0 Additionally, the funding rate stands at -12.678%, indicating a dominant short position in the market, with shorts effectively paying to maintain their positions.\u00a0 Whales Favor Long Positions The current bid-ask ratio is at 38.618%, reflecting a slightly ask-heavy market, which indicates that selling pressure outweighs buying demand. This sentiment is further supported by the average leverage delta, which is at -6.67, showing that short traders are using more leverage than longs, reinforcing a bearish outlook.\u00a0 However, the volume delta is positive at 4.60 million, indicating a net buying imbalance that could support upward momentum. The Whale vs. Retail Delta stands at 56.681%, suggesting that whales are slightly longer compared to retail traders. This minor bullish sentiment from larger players could influence market dynamics as whales typically have a greater market impact. Related Reading: Ethereum Whales Spend $185 Million To Accumulate 70,000 ETH, Time To Buy? Overall, the analyst contends that the Bitcoin price is exhibiting mixed signals. The negative funding rate and higher short leverage indicate a potential downward move, but significant open interest and positive volume delta suggest that a breakout in either direction could be imminent. InspoCrypto suggests that in the next 24 hours, traders should prepare for volatility, particularly if liquidation zones around $61,000 or $64,500 are triggered.\u00a0 By the end of the week, it is expected that the Bitcoin price could either break resistance near $64,500 or test support at $61,000. If funding rates shift to positive, further upward momentum may follow. At the time of writing, the Bitcoin price stands at $63,370, recording minor losses of 0.3% compared to Tuesday\u2019s trading session.\u00a0 Featured image from DALL-E, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":644650,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,485,656,679,755,1119,1122,1144,78790,6664,14690],"class_list":["post-644649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-chart","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-technical-analysis","tag-btc","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-news"],"acf":[],"yoast_head":"\n
Bitcoin Price Forecast: Decisive 24 Hours Ahead With Crucial Support And Resistance Levels<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n