As reported by Cryptofrontnews, Bitcoin’s price has retreated to around $86,000 after a rejection near $110,000, with monthly momentum indicators showing weakening strength. Analyst Ali_charts noted that the monthly MACD has turned bearish for the fourth time since 2018, with historical drawdowns averaging 60%. Kalshi’s updated forecast now projects a yearly low of $78,000, a $19,000 drop from earlier readings. Short-term charts show fading volume and lower highs, with traders closely watching the open CME gap at $85,100. Open interest data also indicates that $6 billion in short positions could be liquidated if Bitcoin rises another $10,000.
Bitcoin Forecast Models Signal Major Reversal After Rejection Near $110,000
CryptofrontnewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.