Summary
- Delphi Digital analyzed that Bitcoin needs to break US$103,500 to be bullish.
- It added that if Bitcoin forms a 'lower high' below US$103,500, it can be interpreted as a bearish scenario.
- It diagnosed that Tether (USDT) dominance and weekly supply are far from the ideal environment.
An analysis said Bitcoin (BTC) needs to break US$103,500 to show bullishness going forward.
On the 26th (KST), Delphi Digital said on X (formerly Twitter), "Currently Bitcoin shows both bullish and bearish structures on the chart," and analyzed, "The bullish scenario becomes valid if, after the ABC correction is completed, it breaks above US$103,500."
Conversely, "If this rebound forms a 'lower high' below US$103,500, it can be seen as a bearish scenario," adding, "In that case, a larger retracement rally could take more time."
Attention should also be paid to stablecoin (virtual assets pegged to fiat currencies) indicators. Delphi Digital diagnosed, "Tether (USDT) dominance has broken its long-term downtrend line, and weekly supply is declining," adding, "This trend is far from the ideal environment that appears before a sustained rally."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
