An active trader and founder of the Crypto Mentors project, Nikita Semov, explains the current market situation.
In recent days, bitcoin has shown strength driven by an aggressive buyer. Here we outline the expected targets and the most likely scenarios for bitcoin’s move, highlighting the strongest support and resistance levels.
On the global four-hour chart, the price has moved above $59,500. This signals the presence of an aggressive buyer who, at present, is repeatedly pushing bitcoin’s price zone higher than before.
Such a structure indicates a clear trending dynamic and interest from a serious buyer. Medium-term expectations are for breaking through the latest high at $67,100.
A more local picture shows an anomalous flare of activity from a large buyer (outlined in a red square on the chart) and a divergence between price and cumulative delta. Large bids from below pushed the quote higher, while selling attempts in the grey trading range were absorbed by large buy-limit orders.
Thus the buyer is in the driver’s seat; we expect rotation within the grey sideways range and then an upside move above $67,100.
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