I think longing here at 54333 is the play instead of waiting for a correction
I say this as mostly price fundamental reasons
- Bitcoin premium index is negative on a 4 hourly up trend. Quite a rare phenomenon but when it happens usually causes a face rip rally.
- Bitcoin July Premiums only 3.5 % - historic low for this futures contract. - too many players are on the sideline and waiting for a correction. and that makes it an unlikely event.
- Perpetual interest rates still low
I'm a buyer here, people's hesitancy to enter makes me even more confident in a rally, and a likely will rip peoples faces off.
I say this as mostly price fundamental reasons
- Bitcoin premium index is negative on a 4 hourly up trend. Quite a rare phenomenon but when it happens usually causes a face rip rally.
- Bitcoin July Premiums only 3.5 % - historic low for this futures contract. - too many players are on the sideline and waiting for a correction. and that makes it an unlikely event.
- Perpetual interest rates still low
I'm a buyer here, people's hesitancy to enter makes me even more confident in a rally, and a likely will rip peoples faces off.