$BTC - #Bitcoin-Daily-Update #12 - Day Trader Explains

Hello Lads and Ladies,
Welcome back to TJ's TA sessions.- The Daily BTC Update #12

What happened in the last 24h?
In the last 24h we saw basically no movement. This is in my opinion because we are approaching a trend-test. This is an important measure for a coins sentiment and direction, the trend has to be confirmed before the next movement happens. Another theory would be that we have a lot of people taking profits at this moment, yet due to the bullish sentiment almost an equal amount of buyers at the same time.

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 -1.0%, but gained 1.18%

MarketCap?
Total MarektCap is 137 Billion -gained 1 billion -
Of which BTC is 70 Billion - no change -
With a Dominance of 51.5%
- lost 0.2% -

Volatility?
The 30d avg Volatility is 4.27%
- lost -0.04 -

Shorts/Longs?
Shorts - 22.6k (pretty low)
Longs - 33.7k (high but solid)
- S lost 1.9k / L gained 0.1k -

Funding?
The last 3 funding rates added -> -0,0359%
- -0.0247 -

Momentum?
The TJ-Momentum is still blue and still rising above the 0 line, which is indicating us a bullish momentum and no change in the direction.

Volume?
The volume over the last weeks is pretty whack. Nothing important and nothing indicating at the first glance, but the previous days the buy volume is increasing and since it has been so low for so long, it will be easier too hit the Volume MA for a trend confirmation.

TJ-MF/StochRSI levels?
TJ-MoneyFlow - Since we are not seeing any moment in price, the volume decreasing and not enough new longs opening, the TJ-MF is giving us a bearish sign. This is alright, unless we have a long series of those.
TJ-Stoch
K(blue) - 92
D(orange) - 83

Divergences?
Nothing that is worth mentioning in our daily updates.

Market Structure?
Currently, the market structure of an inverted head and shoulders is still active and we are sitting at the verge of the neckline. We have to see break there, which might happen at the next trend-test as mentioned before.

Overall?
Currently it is a quite boring moment for Bitcoin, still waiting for the accumulation to end, still waiting for more volume and the dragging effect of the rising altcoins to work its magic on Bitcoin. Nevertheless, we can see a strong decrease in short and a slight increase in longs, which is for me confirming the bullishness of the market and might be hinting towards the next move.

What do we want?
We want this candle simply to close as it is, insignificant and leaving space for the next move. We want to see over the next days at least a test of 4200 and obviously connected to a nice Money-Flow spike and volume above the MA. Moreover, we don't want to forget that THE TREND IS OUR FRIEND and we shall not trade against it. A close above 4k or exactly at it, would be nice to have today.

Position?
Staggers down to 3725 and the stop loss below it, going with lower leverage, since the spread is quite big.

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Cheers, TJ