Bitcoin is currently facing heightened volatility, with technical analysis suggesting a potential short-term price drop. Both futures and spot traders are growing increasingly bearish, and aggressive selling is being observed in the market.
๐ Key Insights:
- Open interest and funding rates are pointing toward downward pressure.
- A fractal pattern hints at a possible dip to $57,000.
- Resistance around $63,400 is being tested.
โ ๏ธ Stay Cautious: This could lead to a liquidity grab near $57,500 in the coming days. Monitor the market closely and manage your risk.
๐ก DYOR: Always do your own research before making any decision.
Feel free to reach out for more guidance. Stay safe in the markets!
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