Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
➡️ The weekend is ahead, which means the instrument is unlikely to show any kind of consolidation above, especially considering the formation of support levels behind which long liquidity has already accumulated.
Starting from Friday, trading activity generally decreases, unlike Sunday, when it rises with the opening of a new weekly candle. A telling example of this activity was observed last weekend, when the downward impulse occurred at the opening of the monthly candle.
➡️ At the moment, bitcoin is trading near support levels, forming repeated touches that increase the likelihood of a breakdown. The next support is located 7% lower, around 85,000. Nevertheless, a large volume of selling is required for a move down to these levels, as there is currently no clear short setup, and selling pressure remains limited.
Bitcoin dominance (BTC.D) has formed a local short setup, the realization of which would have a positive effect on altcoins. However, against the backdrop of the current situation in bitcoin, most assets have already retraced half of the initial impulse during the rebound.