Daily BTC Review

❌Liquidations in the market over the last 24 hours, CoinGlass: ~62K traders, totaling ~$162 million - 52% long positions and 48% short positions.

Most of the liquidations are not related to BTC movement, but to altcoin movement. As I pointed out yesterday, if bitcoin continues to stand still and its dominance starts to fall, altcoins will be best affected - which is exactly what we saw yesterday.

Most likely, after such an impulsive rise, bitcoin will not go into a correction, but into a sideways range that is still in the formation phase. This is good, as it will allow certain market participants to calmly lock in profits, and others to gain positions. At the same time, volatility will appear, which can also be handled in the short-term.

I do not expect any significant movements on bitcoin. I am waiting for the formation of a sideways range. Probably within 45-42K, but maybe it will be wider, it's too early to say.