Bitcoin is just below the $119,000 mark, and after the recent swing, a milder leverage background helps stabilize the market.
summary
- Bitcoin holds close to $119,000, reducing the chances of a sudden revision as it eases leverage ratios.
- The ELR remains in the 0.24-0.25 range, signaling healthier market positioning.
- The key resistance is $119,900. Breakouts could be targeted at $123K, but failure risks pullbacks to 114.9k.
According to an August 15 analysis from the encrypted contributor Arab chain, the estimated leverage ratio across major platforms has been eased above 0.27 from the early August high, immersed in about 0.25 before seeing a mild rise.
This contrasts with May and late July, indicating that prices and leverage are increasing simultaneously, indicating that traders are making bigger, more risky bets.
Bitcoin Leverage Drop supports market stability
Recent declines in leverage indicate that traders are lowering their offensive positions despite still high prices. This rewind helped prevent the rapid sale of the cascade, which often follows highly utilized gatherings.
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Arab chain insights suggest that Bitcoin (BTC) current price action appears to be driven by actual liquidity rather than overly speculation, as the ELR remains stable in the 0.24-0.25 range. If leverage and spot demand balance, the market may have a better foundation for future profits.
Bitcoin Technical Analysis
On the four-hour chart, the BTC hoveres just below the midline of the Bollinger band, with the upper band nearly $119,900 serving as a strong resistance. A relative strength index of 55 does not suggest either an overheated purchase or a deep sales pressure, but a stochastic %K of 68.7 indicates a stable but not extreme momentum.
Bitcoin 4-hour chart. Credit: crypto.news
A short-term moving average of $100,152 from 10-day EMA to $118,676 EMA to 200-day SMA closes shows bullish alignment. Positive Bullbear Power Reading supports flash purchase signals displayed by Momentum and MACD indicators.
If leverage is suppressed, clearing $119,900 could result in $123,000. If you are rejected for $120,000 and the ELR spike exceeds 0.27, the price could drop to $117,700 (20-day EMA) or $114,900 (50-day EMA).
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