This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Bitcoin analyst Willy Woo predicts that Bitcoin will retest the $39,000 zone before potentially continuing its bullish trend. He points out that there is a trading gap near $39,700 on the Chicago Mercantile Exchange (CME) futures market, which is expected to be filled due to the lack of liquidity in that price zone. Additionally, there is another unfilled gap near $20,000.
Woo presents both bullish and bearish cases for Bitcoin. In the bullish case, he mentions factors such as lower interest rates, a peak in the US dollar index, and a return in global liquidity. He also highlights the increasing demand for Bitcoin from public companies like MicroStrategy. On the other hand, in the bearish case, Woo mentions bearish technical indicators, an inflow of coins into exchanges, and a weakening demand for Bitcoin on the futures market.
Currently, Bitcoin is trading at $42,215.