Either to take profit or take short, everyone eyes are on the same target.
Currently we have a ratio of 70% longs and 30% shorts across derivates platforms.
Halving meme of 8K - 9K keep brining hope to HODLers
Bloomberg compares Bitcoin with Gold, in which case is another sell signal as they need retail liquidity to dump (we all know that while GOLD reached a new ATH, Bitcoin was beaten down with over 40% loss in value.
Volume is withered down
The market has an overbought state after 5 WEEKS of constant pumping without a real correction & consolidation.
Late longers haven't been punished.
Market sentiment increase from Extreme Fear to Fear or Neutral Sentiment.
I expect this to fall in 2 stages. One at opening or before weekly closing basically in next 24-48h
Market sentiment increase from Extreme Fear to Fear or Neutral Sentiment. You realize the price usually moves with the index right?
trytofeelpositive
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hi bro,nice analysis but i think need to wait last of wave (5)
what do you think?
saif-khan
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keep posted
transparent-fx
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BtcUsd has some interesting price action, this is my view
twinkel-star
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This is great analysis. keep it up bro
cpozzer
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@twinkel-star, What garbage comments, probably paid for.
TWIMARKETCAP
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I agree with you. but with Tether printing almost 1 billion USDT in less than a month, they have the power to PUMP Bitcoin towards 9K
murrajam
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@TWIMARKETCAP, I don't understand the Tether printing argument... They print USDT to be prepared when people sell BTC. Technically they could pump but if they are illegal printing money to trade with then there is more profit in a leveraged short.