Bitcoin’s bullish momentum continues as it approaches the $35,000 mark.
Notable developments supporting the bullish trend include the formation of a golden cross between the 50-day and 200-day moving averages on the daily chart.
Liquidity maps suggest the potential for a short squeeze between the $36,300 and $40,000 range if Bitcoin surpasses the $36,300 level.
Options market data indicates a shift in sentiment and positioning, with a possibility of further price upside and a potential gamma event in the $35,000 to $40,000 range.
Daily option volumes have surged in the derivatives market, reflecting increased interest in Bitcoin.
Technical analysis points to a bull pennant pattern and the formation of a golden cross on the daily chart.
Traders are watching for a price move through the $36,300 level that could trigger short liquidations and a surge in spot buying volumes.
The Bitcoin gamma squeeze from last week could happen again if BTC/USD moves higher to $35,750 – $36,000.
Investment advice and recommendations are not provided in this article. Readers should conduct their own research before making any decisions.