What direction could Bitcoin's next move be?

Although the price of Bitcoin is currently above $94,000. But from this position, it is very difficult to say exactly which direction Bitcoin's next movement can be. Because many things depend here. No matter how much you analyze the market, your analysis can be wrong if big market makers manipulate it. You can never analyze a market with such a large market cap correctly. Many things can happen here. Suppose what you are thinking now is that you think the market will go up but it turns out that the market is moving in the opposite direction. Again, many times it is seen that you thought the market would go down, then it is seen that the prices of the coins in the market are increasing. Actually, it is difficult to say exactly here.

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However, the current Bitcoin price is likely to go either way. Because two CME gaps have been created above and below the current price. Currently, the Bitcoin price is above $94,000 and within 24 hours, the Bitcoin price was above $95,000 and fell to $93,000. However, of the two CME gaps that have been created, the lower one is in the range of $91,400+ to $92,600+ and the upper one is in the range of $96,400+ to $97,200+. So the increase or decrease in the price of Bitcoin now also depends on this. Basically, when such CME gaps are created in the market, Bitcoin fills them. So the market can go up and down.

The decrease or increase in the price of Bitcoin currently depends on the liquidity of futures traders. Because it is seen that Bitcoin usually moves in the direction where the liquidity of Bitcoin price increases. We even sometimes see that the price of Bitcoin decreases or increases by $ 5 to $ 10,000 in a short period of time. Basically, such jumps cause futures traders to lose liquidity. It is seen that many times it jumps and recovers from there very quickly. So even though two CME gaps are seen at present, now we have to see which direction the liquidity is higher. Then we can guess which direction Bitcoin can go. Moreover, another important issue is the FOMC meeting tomorrow. So this time is also very important and the market can be very unstable depending on the interest rate. So instead of entering the market now, we should wait and see what is going to happen in the market. And you should carefully analyze which direction Bitcoin might go next and keep an eye on the market.