$BTC - #Bitcoin-Daily-Update #19 - Day Trader Explains

Hello Lads and Ladies,
Welcome back to TJ's TA sessions.- The Daily BTC Update #19

What happened in the last 24h?
In the last 24 we saw some nice movement in the same range that we have been moving the previous day. We saw some altcoins move but especially more volatility and movement with Bitcoin itself. For me it was a nice day with a correction from yesterdays FUD.

Most important S/R right now?
2939 3030 3100 3160 3200 3250 3333 3434 3550 3666 3730 3812 3929 4077 4123 4169 4382 4658

Gained lost %?
Since the opening of the new daily, we wicked down -0.27%, but gained 2.57%
in $$$
down 6$ but up 90$

MarketCap?
Total MarektCap is 121 Billion - +1 -
Of which BTC is 64 Billion - 0 -
With a Dominance of 52.3%
- -0.4% -

Volatility?
The 30d avg Volatility is 4.57%
- -0.03 -

Shorts/Longs?
Shorts - 21.7k (pretty low)
Longs - 31.5k (high but solid)
- S -1.0k/ L +0.6k -

Funding?
The last 3 funding rates added -> -0,0511%
- +0.045 -

Momentum?
The TJ-Momentum is showing us a red cloud again, which is indicating us a drag and pull down. This might be important for the next days.

Volume?
With such a nice movement in the market today, we are having some nice volume attached to it as well. None of high significance but the candles are definitely backed by the volume.

TJ-MF/TJ-Stoch levels?
TJ-MoneyFlow - Today we are seeing a pretty small and ascending money flow, yet as such a small cloud, it is of minor importance to us currently.
TJ-Stoch
K(blue) - 27,5
D(orange) - 26.1

Divergences?
We are seeing a slight divergence between the longs and shorts in comparison to the chart. AND we are seeing an uptrend on the TJ-Moneyflow which is an important divergence against the down trending market structure.

Market Structure?
We are still in a descending channel and might even find ourselves in a very huge and scuffed bullflag. It would be nice to see the breakout, especially when the shorts are so low at this moment.

Overall?
We are seeing in my opinion a possibly bullish market structure, yet due to the momentum and a possible bounce in shorts, we might be testing 3550 today or even 3434. This is still the case unless we get more bullish or true bullish confirmations. Obviously, we are seeing a stoch cross over but that is only one puzzle piece. A safe and secure long position can be considered. The previous 12% drop was very heavy and fast, leaving out a big gap and space to be covered first before considering going down more. We are as well seeing a huge decrease in shorts and a minor but further increase in longs. Creating a divergence to the chart, which should be higher according to the longs and shorts.

What do we want?
We want some bullish action and with as near as possible to a one billion volume day.

Position?
Keeping the position.

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Cheers, TJ