Bitcoin price prediction shows possible extension of the $90K-108K range in the near-term. But a possible breakout to $110K was likely.
Mapping Bitcoin’s price prediction as BTC consolidated within $100K-$105K after Trump’s inauguration.After shaking off the early ‘disappointment’ from the Trump inauguration,
For instance, the Directional Movement Index , showed that short-term momentum has eased significantly and could embolden short-sellers. The above bearish readings could endanger the $100K support and mid-range. If cracked, BTC could head lower to $96K or the range-lows at $92K.However, the liquidation heatmap disagreed with the above outlook. At press time, there was a massive pocket of liquidity at $109K.
According to the Options trading desk, QCP Capital, there were more bullish bets than bearish plays on the Futures side. It“Meanwhile, BTC futures continue to trend upward, especially on the front end, as market’s net-long exposure from last week remains solid. Bullish bets currently outpace bearish ones by a ratio of approximately 20:1.”
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