Then why are the big companies buying at 34, 36 and 39K? and why there are big Coinbase outflows to cold storage wallets? could happen but not quite sure. Maybe to 30K again. Bitcoin is not only traded by technicals, but it also involves on-chain analytics and current sentiment, that is also bullish
OrangeTrader93
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@JFCM98, Awesome insight. I didn't know that you could evaluate bitcoin as such. This will give me much to think about as I attempt to explore these newly found concepts in more detail. I appreciate the feedback and I am looking forward to your charts!
JFCM98
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@OrangeTrader93, I use cryptoquant charts to see on chain analytics. Now the funding rates are low, so Is cheaper to long, the open interest is down a bit meaning no shorts positions are been opened (this is a good thing) , coinbase btc price is 50+ dollars up, meaning an uptrend is in formation, but not yet. The trigger should be lots of stablecoins inflows and/or btc outflows. I don't recommend you to long here, but watch the chart closely