The price is located in the dangerous for bulls zone - that's the reason why we don't see huge buy volumes there. Green volumes will start increasing after confirmed $9720 breakout and clean up-ward vector.
We can also see a number of big spikes which triggered LONG stop losses, during these squeezes big traders (mostly whales) were accumulating BTC. However, taking into account the situation on ETH and overall BTC chart, we can conclude that very short-term priority is SHORT.
But when I look at this spikes below $9500 support, I can't tell that global priority is SHORT, no. Ideally, the price should touch $9500 once again and then goes upwards. However, it also can go upward from current points, if the resistance $9720 is broken.
Comment
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Crucial level $9720 was broken upwards and breakout is confirming. Also, there was a bunch of LONG-squeezes below $9500 at which we can see a massive purchases.
Moreover, #ETH is bullish and it seems that we are ready to come back. The first target is $10100 now.
Good Chart!
This is my recent analysis. Growth comparison between BTC and XAU
ProjectSyndicate
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bchusd cycles and next 200% bull run (NEW).
UnknownUnicorn6653705
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Bitcoin has finished ABC correction and will go up after weekend! This idea below explains why:
BingoMoney
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Similar thoughts. Although we may break 9720 resistance and still struggle with that activity around 9800. Sometimes the stop hunts just end up shaking the market and if bids dont holdfast on the way up, we may get spooked halfway up that bear candle.
This is my recent analysis. Growth comparison between BTC and XAU