Bitcoin Reliable Traders Give Bitcoin Liquidity Price Targets

In the ever-changing landscape of financial markets, liquidity remains a key factor in determining the direction of asset prices.

As did a crypto market researcher under the pseudonym Doctor Profit on Twitter, who recently shared interesting information on Twitter. In his post, he highlighted the current market sentiment and potential price levels that investors need to pay attention to.

From what can be seen in his post, he explained that Bitcoin-class assets require liquidity, before running towards a higher price level than today.

In this case, he claims that the liquidity level of US$ 31,700 to US$ 29,000 has been met. Currently, there are two levels that are the next target for a reduction, namely US$ 27,000, and the level below that, namely US$ 24,000.

Interestingly, Doctor Profit also shows that market makers seem to take advantage of trading activity from buyers caused by BlackRock.

According to him, this is what adds volatility and affects asset prices more. These observations indicate that the market may be more supportive of a downside move in the short term.

“Market makers like to eat buyers from BlackRock issues. The market tends to be negative first, because FUD will surface," said Doctor Profit.

Meanwhile, a top analyst named Altcoin Sherpa explained that the formation of the current BTC support level was followed by a deviation around the 200d EMA (Exponential Moving Average), which was then followed by a price increase.

In this case there are several estimates that he saw. First, namely the decline that continued to US $ 27,000 to US $ 28,000, which is close to the 200d EMA.

Then, from there there will be a rebound where the price, according to Sherpa, will touch US$ 29,000 as before. Lastly, he predicts further price increases after the recovery.

“After this there will be further declines, possibly towards the US$27,000 – US$28,000 range, which is adjacent to the 200d EMA. Then there was a quick recovery back to US$29,500, similar to the previous situation. Only then will there be further price increases after the recovery,” he said.