$BTC I am leaning towards a bearish outlook based on current whale movements.
Don't miss this signal: 1248 whales are dominating with sell orders worth $3.19 billion, and the market is under immense pressure.
Proposed trading plan (Scalp Short):
Sell entry (Short): from $67,100 to $67,450
Take profit: $66,500, $66,000, and $65,200
Stop loss: $68,100
Risk management is essential, and do your own research (DYOR).
My logical analysis of the current situation:
I am clearly observing the data and see a huge trap for buyers. There are 793 whales in long positions trapped with losses exceeding $171 million, and the bigger problem is their average entry price is $77,279, meaning they are very far from the current price. In contrast, the bears (those in short positions) are completely in control with unrealized profits reaching $839 million. These numbers tell me that any upward attempt will face strong selling, and downward pressure is the closest scenario right now unless a drastic change in liquidity occurs.
What do you think about this situation, do you believe that buyers will give up soon? Share your thoughts in the comments.