D7R

Bitcoin (BTC) • Low supply & Demand while MM Barts in control

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Market Makers are now in control as we can see with those Bart patterns forming up as demand faded away and supply is also weak.

We have strong orders in the books around 47.5 and 50k acting as major resistances across the board.

Swaps now showing more frequently trading above spot which implies bearishness BUT we don't have yet the structural daily trend from the lows broken yet.

Finex longs are in slow decline and perpetual swaps in open interest ate back to very high levels which implies liquidations to come soon enough.

Altcoins are not rallying aggressively at local top levels. When we see this sort of fomo momentum into resistance probability distribution generally favor a reversal to come soon.




Comment: Bart keep doing its thing on the chart. 🍿
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