Bitcoin While its price gained a lot of activity in the last 24 hours, it managed to exceed the $ 45,000 level. While this increase in price triggered a large liquidation, according to data, over 145 million dollars were liquidated. A significant portion of these liquidations consisted of short positions opened on the first day of 2024.
This strong movement in Bitcoin price means that the current bullish outlook still continues. BTC, which has made a strong start to 2024, also reflects the excitement before the expected spot ETF approval and halving.
While investors continue to maintain their optimistic outlook, investors can also follow the “sell the news” method after the Bitcoin ETF approval. Such events usually occur when the price of an asset rises in anticipation of a positive event and falls as investors make a profit after the event occurs.
Koinfinans.com As we reported, the moving averages on the chart show a strong upward formation; The price is currently well above both the 50-day and 200-day moving averages, indicating a strong uptrend. The 50-day moving average in particular appears to indicate continued upward pressure, acting as dynamic support for the price.
The volume bars indicate an increase in trading activity around the breakout point, confirming the momentum behind the move. The Relative Strength Index is rising into overbought territory, reflecting the strong buying pressure that has accompanied the recent price increase.