First bullish case was looking really good, but with recent price action its getting more and more likely we break down.
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imgur.com/a/9pScjBG
Look at the orderblock put after the recent push up. They are not playing, some of them are already filled.
Look at the orderblock put after the recent push up. They are not playing, some of them are already filled.
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also take a look at funding.
www.deribit.com...ding_chart.html?instrument...
Huge possitive spike on Deribit after that pump/fakeout. This indicates majority of market is long and that a long position would be unsustainable.
www.deribit.com...ding_chart.html?instrument...
Huge possitive spike on Deribit after that pump/fakeout. This indicates majority of market is long and that a long position would be unsustainable.
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Lowest risk short opportunity is retest of the MA/trendline
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Trade active:
Opened a short on that retest, target 7000
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Another short opportunity was retest of the 21EMA H and 100MA 4H.
Another short opportunity was retest of the 21EMA H and 100MA 4H.
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If the daily closes below the 350ma, thats in my opinion confirmation of another downtrend.
Right now we are slowly grinding lower. After every dump there are buy walls pulled up. Its still unclear if this are real buyers stepping in or just the sellers letting it slow dump to later let it cascade into a major dump below our previous low. Just as we have seen on our last dump from 9000.
On this way down we have not seen any orders filled of big market makers, which concludes this is not the bottom.
Right now we are slowly grinding lower. After every dump there are buy walls pulled up. Its still unclear if this are real buyers stepping in or just the sellers letting it slow dump to later let it cascade into a major dump below our previous low. Just as we have seen on our last dump from 9000.
On this way down we have not seen any orders filled of big market makers, which concludes this is not the bottom.
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imgur.com/a/ETyqfhI
this is what im talking about, everytime we drop they put a buy wall below but these orders never get filled once price reaces the level they pull it.
imgur.com/a/AS4DvZw
As you can see only one size buy in the downtrend, if they were really buying at this level you would see 10-20 of those orders.
this is what im talking about, everytime we drop they put a buy wall below but these orders never get filled once price reaces the level they pull it.
imgur.com/a/AS4DvZw
As you can see only one size buy in the downtrend, if they were really buying at this level you would see 10-20 of those orders.
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Alright giving another short entry on bitcoin. Im looking to add a small position at 7300.
confluence of 21ema and s/r flip.
Break of 7000 is getting more likely because we have not seen a real sell of yet.
Also open interest is still rising, OI rise - downtrend = bearish.
confluence of 21ema and s/r flip.
Break of 7000 is getting more likely because we have not seen a real sell of yet.
Also open interest is still rising, OI rise - downtrend = bearish.
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Possible we could first see a short squeeze, either up to 7250 or 7400
Possible we could first see a short squeeze, either up to 7250 or 7400
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Aaand there is your short squeeze.
added to my short at 7280.
Aaand there is your short squeeze.
added to my short at 7280.
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imgur.com/a/PYu7trW
market makers are limit selling.
imgur.com/a/esztnyT
all red bloks all ready got filled, they are pushing price up on lev exchange
and keep putting 100btc sells.
prepare for a breakdown.
market makers are limit selling.
imgur.com/a/esztnyT
all red bloks all ready got filled, they are pushing price up on lev exchange
and keep putting 100btc sells.
prepare for a breakdown.
We are making higher lows but I think this is a trap. Majority of market is long which is in its own not a good sign in a downtrend/range.
Liquidity up to 7800 has already been run, market makers would make a lot more if they long squeeze it to the downside. Conclusion all the liquidity is down.
We also have seen a lot of limit selling at the 75-76 levels indicating whales are selling instead of buying.