Bitcoin funds experienced a strong net outflow of approximately $543 million after two consecutive days of inflows amounting to nearly $1 billion daily. This withdrawal coincided with Bitcoin's continued testing of the $100,000 resistance level, indicating that profit-taking demand at this price zone remains high.
The inability to sustain capital inflows and maintain the price above $100,000 poses a significant challenge for the funds. Based on my observations, capital outflows at this price level are not a new phenomenon. This time, most funds experienced net withdrawals.
This could reinforce the likelihood that Bitcoin may continue a consolidation phase around the $100,000 mark. Buy orders are scattered across rounded price zones like $94,000, $93,000, $92,000, and $90,000, which remain long-standing and heavily anticipated levels. The low trading volume at these levels suggests investor uncertainty, with many avoiding holding positions over multiple days, reflecting a lack of confidence.
The BTC strategy remains in a strong upward trend on larger time frames, so wait for corrections to the noted support zones to consider potential BUY opportunities. On shorter time frames (H1-H2), the trend is showing a downward wave, so in the short term, wait for prices to retrace to the lower support zones before entering BUY positions.
Stick to proper volume and manage your positions carefully. Always adhere to the set TP/SL levels. Be cautious today as significant USD news (ADP Nonfarm data) is expected—ensure the safety of your account.
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