Bitcoin -Price analysis: Classic Bull Trap comes to the fore after the record of BTC High

Bitcoin recently experienced increased volatility by setting a fresh all-time high. However, the price is quickly reversed, which indicates a bullfall, which increases the chance of a sideways consolidation within the range of $ 116k $ 124k.

Technical analysis

By Shayanmarkets

The daily graph

On the daily period of time, Bitcoin buyers successfully pushed the active above his previous all time and they registered a new peak at $ 124.4k. However, this breakout was short -lived, because the heavy sales pressure quickly reversed the movement, late long submissions, a classic bullfall.

BTC has now reduced the retracement to an important confluence support zone around $ 118k, which closely matches the lower limit of the rising channel. This area will be crucial to determine whether the long -term bullish trend remains intact. A decisive breakdown of this level could open the path to deeper supports, while a rebound could recover a bullish momentum here.

The 4-hour graph

In the 4-hour period, the recent promotion clearly shows a traditional liquidity yacht, price that is wiped above the recent High (BSL), activates breakout-purchase and stop-loss orders before they turn sharply. Subsequently, it was actively experienced a cascade, which broke under the most recent Swing Low (MSS), which indicates the early signs of a potential market structure shift.

Bitcoin currently seems to consolidate within a range between $ 116k and $ 124k. Until the price breaks from this reach, short -term movements will probably remain jerky, where traders focus on liquidity pools on both reach boundaries.

Chain analysis

By Shayanmarkets

Recent data on the chain shows a sharp peak in the average intake of Binance (7-day SMA) and reaches one of the highest measurements in recent months. This metriek follows the average amount of BTC that is deposited for the exchange, and such jumps often correspond to the preparation for sale, colland marpses or institutional portfolio in balance.

Persistent high inflow indicates that more BTC is transferred from external portfolios to Binance’s trade markets. Historically, significant intake break they do not meet the equally strong purchasing demand, often preceded periods of short-term sales pressure.

To support this signal, a positive Netflow (inserting that exceeds the external borders) has also increased, which confirms that the total BTC balance of Binance is increasing instead of being compensated by recordings. Without corresponding spot demand, this imbalance can tilt the market to short -term volatility in the short term, especially if large holders are preparing to sell or cover positions through derivatives.