Hey, Alkalites! The market has been affected by the recent falls in the capitalization of Bitcoin. Today we bring you an advanced top-down analysis, based on fundamentals and highly accurate technical levels.
From a technical point of view, we can see that Bitcoin has respected some psychological support and resistance zones. As it is currently ranging, the simplest way to identify manipulation and expect movements is through precise levels such as those shown on the chart.
Regarding the fundamentals and the market behaviour, we have been able to verify that the recent negative news pointing to cryptocurrencies are affecting the balance in exchanges, with an inverse proportionality between their liquidity and the price of Bitcoin.
We are monitoring a consistent liquidity inflow on exchanges, which could suggest weakness at the $30k level. Although it does not necessarily mean that sales will occur, it can be a preventive reaction to more negative news.
Our advice: draw these levels on your medium-term chart, control the volume by price or by time and monitor the news with the help of our feed. Do not release more than 50% of your capital, as these dips may not have bottomed out yet. You should redistribute your risk if you trust the crypto ecosystem.
Have a great day, Alkalites!
From a technical point of view, we can see that Bitcoin has respected some psychological support and resistance zones. As it is currently ranging, the simplest way to identify manipulation and expect movements is through precise levels such as those shown on the chart.
Regarding the fundamentals and the market behaviour, we have been able to verify that the recent negative news pointing to cryptocurrencies are affecting the balance in exchanges, with an inverse proportionality between their liquidity and the price of Bitcoin.
We are monitoring a consistent liquidity inflow on exchanges, which could suggest weakness at the $30k level. Although it does not necessarily mean that sales will occur, it can be a preventive reaction to more negative news.
Our advice: draw these levels on your medium-term chart, control the volume by price or by time and monitor the news with the help of our feed. Do not release more than 50% of your capital, as these dips may not have bottomed out yet. You should redistribute your risk if you trust the crypto ecosystem.
Have a great day, Alkalites!
