The expert has indicated that the sell-off on the cumulative volume delta (CVD) has reached its peak, signaling the beginning of the boost phase. He emphasized that the market structure has remained the same since March, but April is expected to bring change in both directions due to the halving event acting as a catalyst for volatility.
The analyst has highlighted the $71,000 to $75,000 range as the next level for large liquidations of short positions. With reference to the supply and demand charts of Bitcoin, he expressed confidence that the ongoing accumulation would drive BTC’s price past its all-time high in due course.
Observations point to the asset consolidating at the lower end of the current range, which spans from $61,000 to $71,000. On April 13, BTC’s price dropped below $61,000 amid escalating tensions in the Middle East, but rebounded to surpass $64,000 the following day.
The liquidations volume on that day amounted to $955 million.