Main takeout:
Bitcoin’s Coinbase Premium Index became the first negative in 15 days and indicates a short -term defensive emotion among US investors.
Bitcoin CME FUTURES suggests a range of transactions between $ 92,000-$ 92,500 and $ 96,400-$ 97,400 resistance.
Bitcoin’s Coinbase Premium Index, which measures the gap between the Coinbase Pro and Binance Exchange’s BTC Price, has been changed to a negative that informs the potential weakness among US investors after a 15 -day positive odor.
This decline matches Bitcoin (BTC) slipping to less than $ 94,000, and the decrease in premiums has reduced the purchase pressure on coinbase, which is considered to be contrasting institutional demand and retail demand.
COINTELEGRAPH reported initial signs of pressure in which Bitcoin recorded more than $ 300 million in negative cumulative volume delta (CVD) from April 27 to April 29, and indicates continuous sales.
Related: Strategy, Semler Bag 2K Bitcoin earned $ 100k last week.
The sales pressure continued during the weekend, contributing to the price drop, and anonymous password analyst EXITPUMP pointed out that the Bitfinex whale showed significant sales pressure compared to coinbase and bynes.
In addition, about 8,000 BTC of the public interest (OI) is removed from the futures market, reflecting the reduction of leverage. However, according to recent data, the aggregated gift bidder Delta suggests potential purchasing interest in the derivatives market with a positive shift.
Bitcoin has a difference in gifts in both directions.
Bitcoin is at a pivotal point and trades about $ 94,000 between the two CME gifts. The gap is from $ 92,000 to $ 92,500 from two weeks ago, and from $ 96,400 to $ 97,400 recently. The CME gap often acts as a magnet of price behavior, and the historical trend tends to fill this gap in a few days.
Bitcoin is expected to test at least one gap this week, and the potential drop to $ 92,000 to $ 92,000 after Bitcoin has not exceeded the 200 -day simplicity (blue line).
Bitcoin has lost its position of SMA more than 200 days for the first time since April 11, which can show the trend of the low time frame (LTF) chart.
However, uneven price measures can occur in the short term due to the overhead resistance of $ 97,000-$ 98,000 (cme Gap 1) and $ 93,000 in the short term.
Crypto TRADER UB pointed out the many major areas of interest that can watch X:
“The situation is quite clean in terms of the main level. $ 95.5K & $ 91.9K. Unless the price is in one of the above levels, I’m not interested in Bitcoin transactions. The number of $ 95.5K is clear at $ 99.1K.”
Related: What is the price of Bitcoin when gold reaches $ 5K?
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.