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Crypto_MD
Dec 8, 2022 9:22 AM

Consolidation On BTC / TODAYS INTRADAY ANALYSIS 

Bitcoin / TetherUSBinance

Description

Hello Traders
As you can see in the chart above, the price has formed a triangle and created a base for correcting the bearish movement; on the Onchain analysis market is quiet, and not much is happening today. Open interests are lower than the previous day, and volume has decreased significantly. On the network side, there is a metric called Net Realised profit and loss(Uploaded picture); this metric shows how much in dollars wallets have realized, and today wallets that were in loss are much more than those in profits, meaning the market can see a bullish correction. I think the price can correct itself to 0.618 Fibonacci level by technical analysis or consolidate for a while in this price zone.
Note that this is an intraday analysis and is only valid for a couple of days or even hours.
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What is your opinion? Comment below.
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Good luck.
Comments
TheNewsCrypto
Great Analysis
Crypto_MD
@TheNewsCrypto, Thanks Mate
Solldy
I like the chart you have posted today. It looks very good. Thanks for sharing your analysis with us.
Crypto_MD
@Solldy you’re welcome and thanks for the comment🙏🏼
SwallowPremium
We think it can work! Keep going!!
Crypto_MD
@SwallowPremium thanks for the comment 🙏🏼 Sure, I will update daily
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