Bitcoin’s graphics show bearish divergences in multiple temporal frames, an indication that the rebounds above US $110,000 could be a trap.
He Bitcoin Baja 0.7% Au $ 108,908 and although some traders anticipate a rebound above US $112,000, The increase in sales pressure and liquidity sweeps suggest that the ruptures are traps.
In that context, the altcoins with a majority of casualties of up to more than 4% led by Doge Coin. For its part, Ripple 2.9% and Solarium He does it with 2.6%.
Bitcoin: What do technical analyzes say
The price of Bitcoin rebounded up to US $110,500 on Thursday, but The cryptocurrency is finding a roof as multiple bearish divergences flash in different temporal frames.
In the 15 -minute graphics, one hour and four hours, the technical analysts said that there are signs of divergence, where The price continues to rise while impulse indicators, such as the relative force index (relative strength index), tend down. This suggests a weakened bullish impulse, which increases the risk of a short -term setback.
Moving away to the one day graphic the cautious perspective is reinforced. In May, a clear bearish divergence between the price and impulse indicators emerged, aligning with the historical Bitcoin’s maximum of US $ 111,800. Although BTC briefly fell below US $ 100,000 since then, divergence remains intact, suggesting that underlying bearish pressure could still influence. The immediate objective below remains between US $ 107,500 YU $ S106,000.
This bearish bias was reinforced after the US non -agricultural payroll data (NFP) on Friday, which were better than expected. Although the labor report initially helped push BTC to US $110,000, the bulls failed to maintain that break. The rejection at this key psychological level may indicate exhaustion in the maximums of the current range.
Interestingly, financing rates are maintained neutral. In an X publication, Vetle Lunde of K33 Research said that the financing rate of perpetual futures remains flat even with BTC brushing its historical maximum range. This lack of aggressive long positioning shows that traders may not be totally convinced of a sustained breakup, what is aligned with the current technical divergences.
Source: Ambito
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