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$BTC - #Bitcoin-Daily-Update #22 - Day Trader Explains

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Hello Lads and Ladies,
Welcome back to TJ's TA sessions.- The Daily BTC Update #22

What happened in the last 24h?
In the last 24h we saw some little to no movement in and around Bitcoin . The whole market is standing still and waiting for its fire to ignite. We have to be careful with these low volatility days, since these mostly bring big volatility with them on the following days. So, we are expecting a move tomorrow, it is as well decision time for most of the Altcoins.

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 -0.56%, but gained 1.22%
in $$$
down 20$ but up 42$

MarketCap?
Total MarektCap is 120 Billion - +1 -
Of which BTC is 63 Billion - +1 -
With a Dominance of 52.4%
- -0.1% -

Volatility?
The 30d avg Volatility is 3.56%
- -0.03 -

Shorts/Longs?
Shorts - 23.8k (pretty low)
Longs - 28.7k (high but solid)
- S +1.3k/ L -0.2k -

Funding?
The last 3 funding rates added -> -0,059%
- -0.0140 -

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.
-202 - -18 -

Volume?
Todays volume is quite bad and in fact one of the worst bullish volumes, that we have seen this year so far. It is yet another sign for big volume incoming.

TJ-MF/TJ-Stoch levels?
TJ-MoneyFlow - Today we are seeing a bearish spike on the money flow , which is not confirming the direction and yet indicating us a bearish movement soon.
TJ-Stoch
K(blue) - 23.3
D(orange) - 27.6

Divergences?
We are seeing an uptrend on the TJ-Moneyflow which is an important divergence against the down trending market structure. The shorts are increasing drastically. While the chart has not seen its influence yet.

Market Structure?
We are still in a descending channel and might even find ourselves in a very huge and scuffed bullflag. Fighting with strong and important supports at this moment.

Overall?
Overall, today has been not a nice day and we have some bearish indications starting up in the background. We are seeing the shorts increasing. We are loosing drastically on the longs, the volume is bad as well, the funding rates are not favoring longs that much anymore. We are expecting at least a re-test of 3434 very soon. I am seeing 3333 as a possibility as well. On most of the alts we have as well a nice "playground" of at least 5% to still stay bullish , same as Bitcoin .

What do we want?
We want to see a quick test of 3434 or 3333 so that is out of the way and see more bullishness everywhere. Should we re test and not bounce quickly, we might continue to test the yearly lows.

Position?
Considering a small short scalp with tps towards 3434 and possibly 3333.

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Cheers, TJ
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