Bitcoin is taking a strong support at the level of 69000 to 70,000 and we see that from the few weeks the price is stable here.
But I think this is not a good good news that Bitcoin is not moving either side.
In the bullish Zone, we need a good break even so that it even surpasses its all-time high.
I consider Bitcoin to keep on Rising every day around 200 to 300 points But we see that the 70,000 resistance level is the position which it is taking again and again rejection.
If this continues for for several more days I will I'm sure that the Bitcoin will take a huge correction again. There is a huge liquidity of billions of dollars around 62000 and I am seeing Bitcoin there in the next few weeks.
Buyers and Sellers must consider both of the directions either upside and downside. The liquidity were available at 71500 and we see that the price went there. Now at the time of writing the price of Bitcoin is 69,000, which takes a dip of more than 3 to 4%
There is more probability that the whales and other organizations, institutions will take the price down to grab the liquidity of 62,000, which is very necessary.
What do people think about this analysis? Will you agree with my points? Will be glad to see your answers in the comment section.
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