The main dishes to remember:
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Bitcoin targets $ 122,000, where $ 2 billion in short liquidations are grouped, but the seasonal data in the quarter indicate downwards.
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A falling RSI, outings of FNB BTC Spot and low trading volumes indicate a weakening of the bullish momentum.
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The FOMC minutes and the positive news of the White House could trigger a rally on Wednesday.
Bitcoin (BTC) briefly dropped below $ 117,000 on Tuesday, sweeping the internal liquidity built between $ 117,000 and $ 119,000 during the weekend. This absorption of liquidity, often a precursor of directional movements, occurred at $ 100 million in long positions. Despite the decline, the exponential mobile average of 100 days (EMA) on the four -hour table continues to provide dynamic support, limiting short -term decline.
With minimum purchase liquidity visible up to $ 114,500, the slightest resistance path is now higher. The following main area of interest is between $ 120,000 and $ 122,000, a liquidity area on the sale side where stop orders are grouped. A daily supply area between $ 121,400 and $ 123,200, representing resistance to previous prices, adds to this confluence, suggesting that the BTC could try to sweep the external liquidity established in the last two weeks.
Reinforcing this bias, data from the BTC liquidation card reveal that $ 2 billion in short BTC positions could be liquidated around $ 121,600.
Related: Bitcoin Price gained 50% the last time its volatility fell
Can Bitcoin overcome $ 122,000?
While the short -term market structure describes a bullish recovery, the long -term configuration indicates that the bruise of the BTC could disappear. A double high level training could emerge near its top of all time, reflecting the buyer’s fatigue. The fact of not breaking up cleanly above the daily supply area of $ 123,200 would validate this downward model, blocking the discovery of prices.
Onchain’s data support this prudence. The daily Bitcoin daily force index fell sharply to 51.7 from 74.4, indicating exhaustion on the cash market, while daily volumes fell to $ 8.6 billion, the two signs of participation in discoloration. The BTC Stock Exchange Fund flows (ETF) Spot also decreased by 80% of 496 million dollars, compared to $ 2.5 billion, stressing the cooling of institutional appetite.
While open -ended interests remain high at $ 45.6 billion, the increase in long -term financing suggests growing excessive confidence. In addition, 96.9% of the offer remains in profit, which signals a high potential for taking advantage.
August historical yields further strengthen this position. With more than 60% of the fence period in August in the red with an average yield of 2.56%, the coming month presents seasonal opposite winds. Combined with a weakening of onchain’s activity, such as the drop in active addresses and transfer volumes, the BTC can be found in the coming weeks.
However, this perspective could be invalidated on Wednesday. The American White House is expected to publish a strategic cryptographic policy report, which can introduce a Bitcoin reserve framework and neutral Delta accumulation strategies, potentially stimulating the ETF Spot flows and the BTC treasure building.
In addition, all eyes remain on the meeting of the Federal Open Market (FOMC) committee of this week. Although no rate drop is expected, such a result could be widely evaluated, given the constant neutral tone of July. However, any dominant comment from the president of the Fed, Jerome Powell, could change feeling. If Powell suggests a drop in potential rate in September, markets can direct expectations, which prompted the BTC to exceed $ 123,000 and push for new heights.
Related: Bitcoin analysts say it must happen so that BTC Price is reaching new heights
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
