- Bitcoin is facing pressure as market makers manipulate sentiment, potentially pushing prices below the $100,000 mark.
- Selling Bitcoin at higher prices to repurchase later allows traders to maximize positions during market dips.
- Market volatility remains high as critical economic reports could further influence Bitcoin’s direction this week.
Bitcoin price is experiencing intense pressure as market makers are on the verge of manipulating the sentiment and creating fear. Analyst Dr. Profit highlighted that Bitcoin may fall below the level of $100,000. This action is required in order to allow market makers to take advantage of fear, which can cause higher gains. The market mood is gradually turning fearful, and this may worsen in the next few days.
The analyst took a bold step in quitting all his Bitcoin holdings. He sold 25% of the market value of his holding at $108,000 and the remaining 75% at $103,300. Having sold, he shifted completely to cash, and he took a short position. This move created a perception that the bull market was ending, but the analyst does not agree. He considers this a strategic step to repurchase at a lower cost and fully maximise his position in the long term.
Source: X
Maximizing Bitcoin Positions
The example was used to explain the strategy. Suppose you own 10 apples at $1 each, and they have gone down 20% or 30%. Selling now would enable you to purchase them back again at 12 or 13 apples in the future. This allows BTC traders to sell and wait until the prices are low to repurchase more BTC. This profit can be increased further using leverage, a strategy more profitably undertaken by professional traders and market makers.
The market has shifted to a high volatility, and the analyst forecasts a fall to the level of $93,000 and $94,000. Such a price level will cause maximum fear in the market. At this stage, he can either go back into the market or wait with his short and wait till the price falls further towards the $82,000 and the $84,000 level. Such targets use the behavior and sentiment in the current market.
Bitcoin’s CME Gap Impact
The analyst highlighted the extreme CME gap of $92,000. He believes that this distance will be closed soon because there is substantial liquidity in this region. There are also technical signs, such as MACD and RSI, that indicate a bearish trend, and these facts prove further the prediction that the price of Bitcoin may decrease even sooner. At the time of writing, Bitcoin is trading at $99,143, with a 24-hour trading volume of $65.29 billion. It is down by 3.59% in 24 hours and 5.45% in the past 7 days.
The volatility will remain in the week. Important economic releases, including GDP growth and unemployment claims, will be published on Thursday and Friday. Such activities may cause additional price fluctuations in Bitcoin. There is a risk, particularly when critical levels such as $100,000 and $92,000 are involved. The coming few days will play a significant role in creating the direction of Bitcoin.
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