1. Yesterday BTC broke out of the sideways trend, BTC closed the day with the price of 20074 and the high of 20410. The H4 and below frame indicators all showed a strong bullish trend reversal.
2. BTC last night short positions liquidated nearly $750 million total exchanges, 52% higher for BTC and 105% for ETH. This shows that the market has had strong volatility, the shark's determination to push the price out of the 18k-19k zone is clear.
3. The whole market rallied strongly according to BTC and ETH prices, it is expected that today BTC price will move sideways, creating favorable conditions for altcoins to have strong momentum.
4. Open interest on Futures positions rose to the highest since June for BTC, indicating that traders were trading faster, opening new long positions.
5. Technically, BTC broke above the EMA25, closing with a strong bullish candle that broke all minor bracket resistance. A break and close above 20500 - D1 resistance indicates a strong bullish momentum, breaking the W-shaped below. We will wait for an accumulation area of about 2 3 H1 trees, to be able to continue the Long order, then the stop loss will be shorter, more risky.
2. BTC last night short positions liquidated nearly $750 million total exchanges, 52% higher for BTC and 105% for ETH. This shows that the market has had strong volatility, the shark's determination to push the price out of the 18k-19k zone is clear.
3. The whole market rallied strongly according to BTC and ETH prices, it is expected that today BTC price will move sideways, creating favorable conditions for altcoins to have strong momentum.
4. Open interest on Futures positions rose to the highest since June for BTC, indicating that traders were trading faster, opening new long positions.
5. Technically, BTC broke above the EMA25, closing with a strong bullish candle that broke all minor bracket resistance. A break and close above 20500 - D1 resistance indicates a strong bullish momentum, breaking the W-shaped below. We will wait for an accumulation area of about 2 3 H1 trees, to be able to continue the Long order, then the stop loss will be shorter, more risky.