Bitcoin may not see a big price breakout due to profit-taking and lack of strong support

From Investing.com

September 3, 2024 12:30 PM:

Bitcoin’s price surge may not lead to a big breakout as investors are taking profits. Market flow shows more inclination towards selling than initiating new positions, hindering a bullish trend. Additionally, liquidity dynamics around $60,000 and $61,000 suggest sellers are hesitant without strong buyer support. Futures market data indicates a lack of aggressive long positions, posing challenges for a sustained upward move. High-time-frame rally would require more support from rising limit bids.

Read more at Investing.com: Bitcoin (BTC) Won’t Skyrocket Here, and This Is Why By U.Today