Bitcoin: Liquidation Cluster Hit Ahead of CPI
CrypNuevo notes Bitcoin liquidation cluster hit amid intense hunting phase, with Tuesday CPI data likely to accelerate downside toward the open interest wall before any upside retracement.
SourceAnalysis
BTC liquidation cluster hit as @CrypNuevo highlights the market's relentless focus on stops over recent months. The intense liquidation-hunting phase sets up a larger directional move, with Tuesday CPI release positioned to trigger faster downside if data runs hot and skips any retracement.
Price at $73428.06 trades inside the Bollinger Bands with upper resistance at $75437.63 and lower support at $72916.56. The structure remains bearish as price sits below the EMA50 at $75434.99 and well under the EMA200 at $79060.98. RSI at 37.72 stays neutral while MACD registers a bullish golden cross at -553.25, creating confluence where any bounce toward the upper band or EMA50 could stall quickly if CPI fuels selling pressure straight into the open interest wall.
CrypNuevo
@CrypNuevoAn unbiased technical analyst specializing in liquidity dynamics and market psychology, transcending bull-bear narratives.