Disclaimer: The knowledge offered doesn’t represent monetary, funding, buying and selling, or different sorts of recommendation and is solely the author’s opinion.
- BTC consolidated latest losses above 50% Fib degree ($26.7k).
- Bullish sentiment improved after the 12 October worth dip.
Bitcoin’s [BTC] short-term restoration confronted a key roadblock at $27k. The king coin’s sharp reversal from $28.2k led to a 5% worth loss primarily based on a press time worth of $26.8k within the early Asian session on 15 October.
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A latest AMBCrypto worth evaluation of BTC on 13 October confirmed that an prolonged worth drop to the confluence of range-low/bullish zone at $25k may present a shopping for alternative.
However a spike in brief liquidation at a 50% Fib degree of $26.7k since 12 October delayed the above projection.
Will Bitcoin sellers drive it decrease?
Supply: BTC/USDT on TradingView
The prolonged BTC worth drop on 11 October left a worth imbalance at $26.9k – $27.2k (purple). The realm has been an important short-term hurdle previously few days.
In addition to, the confluence of the value imbalance space with 50-EMA (Exponential Transferring Common) and the 61.8% Fib degree ($27.1k) may entice late sellers within the space. If that’s the case, a crack beneath 50% Fib degree ($26.7k) may set BTC to $26.3k or the range-low space of $25k.
Nonetheless, a convincing bullish transfer above $27.2k may verify a short-term restoration.
In the meantime, BTC’s Spot market demand improved, as proven by rising OBV. Nonetheless, the wavering shopping for stress and restricted capital inflows demonstrated by RSI and CMF laboring beneath key thresholds. It may undermine bullish efforts past $27.2k within the quick time period.
Late BTC sellers punished
Supply: Hyblock Capital [BTC Liquidation Level]
Late sellers have been punished, as indicated by the liquidation knowledge from Hyblock Capital. The adverse Cumulative Liquidation Ranges Delta (CLLD), between 11-15 October, confirmed extra quick positions have been liquidated over the identical interval. The adverse CLLD additionally implied a gentle bullish bias.
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In addition to, the liquidity was on the upside, as proven by the liquidation profile (proper aspect of the chart). The important thing liquidity ranges have been at $26.9k, $27.2k, $27.8k, and $27.98k (areas marked by bigger circles).
Nonetheless, the $27.2k degree was of curiosity due to its confluence with 50-EMA, 61.8% Fib degree and liquidation degree. So, BTC’s short-term restoration may face headwinds round $27k.