Good Morning TradingView!
So yesterday we talked about miner capitulation and how more and more miners are becoming unprofitable. When miners become unprofitable they tend to sell off Bitcoins they mined earlier. If Miners holding BTC is considered extremely bullish the opposite has to be true. This was one of the main reasons to spark this bearish scenario that has been playing out past 3 days.
There whales/institutions have been sitting idle for the most part indicating they are looking for a buying opp.
I would not Short Bitcoin as it is more risky than a Long for the time being we all need to remind ourselves:
1)Bitcoin is in a Macro Bear Trend since previous ATH
2) BTC has been in a strong bull trend since March 12 crash and we have not seen a notable post halving dip or spike.
Things in the News:
-Fed Reserve to keep a 0 level Reserve Requirement through 2021.
-Bitcoin Halving search on google is peaking down from ATH made this month.
-# of BTC wallets with more than .00001 BTC hit ATH Yesterday and again Today.
Longs- I would DCA ($ cost avg.) and place my bets spread out among key levels.
Key Levels to watch can be seen on anyone elses chart lol
Trying to bring the community unique stuff here not repeat what people have been saying.
Follow or Leave a Like for a few things weekly you wont find anywhere else.
I don't have Telegram and never will, I don't share my trades, I don't want your money.
Have a Good Day!
So yesterday we talked about miner capitulation and how more and more miners are becoming unprofitable. When miners become unprofitable they tend to sell off Bitcoins they mined earlier. If Miners holding BTC is considered extremely bullish the opposite has to be true. This was one of the main reasons to spark this bearish scenario that has been playing out past 3 days.
There whales/institutions have been sitting idle for the most part indicating they are looking for a buying opp.
I would not Short Bitcoin as it is more risky than a Long for the time being we all need to remind ourselves:
1)Bitcoin is in a Macro Bear Trend since previous ATH
2) BTC has been in a strong bull trend since March 12 crash and we have not seen a notable post halving dip or spike.
Things in the News:
-Fed Reserve to keep a 0 level Reserve Requirement through 2021.
-Bitcoin Halving search on google is peaking down from ATH made this month.
-# of BTC wallets with more than .00001 BTC hit ATH Yesterday and again Today.
Longs- I would DCA ($ cost avg.) and place my bets spread out among key levels.
Key Levels to watch can be seen on anyone elses chart lol
Trying to bring the community unique stuff here not repeat what people have been saying.
Follow or Leave a Like for a few things weekly you wont find anywhere else.
I don't have Telegram and never will, I don't share my trades, I don't want your money.
Have a Good Day!
