$BTC - #Bitcoin-Daily-Update #20 - Day Trader Explains
Welcome back to TJ's TA sessions.- The Daily BTC Update #20
What happened in the last 24h?
We saw in the last 24h quite a bit of movement. A very strong and steep wick to the low 3.4k has caught everyone's attention today. We were seeing a crazy action and a break of 3434 which is the first time for this year. Nevertheless, it popped back up and formed a bull on all time frames giving the most single candle this year. The is obviously great and our still in place. Altcoins look all pretty much the same.
Most important S/R right now?
2939 3030 3100 3160 3200 3250 3333 3434 3550 3666 3730 3812 3929 4077 4123 4169 4382 4658
Gained lost %?
Since the opening of the new daily, we wicked down -3.57%, but gained 2.29%
down 126$ but up 80$
Total MarektCap is 120 Billion - -1 -
Of which BTC is 63 Billion - -1 -
With a Dominance of 52.3%
- -0.0% -
The 30d avg is 3.58%
- -0.03 -
Shorts - 21.7k (pretty low)
Longs - 31.5k (high but solid)
- S -1.0k/ L +0.6k -
The last 3 funding rates added -> -0,07%
- +0.02 -
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.
The is obviously very nice and the highest buying for this year.
TJ-MoneyFlow - Today we are seeing a pretty small and ascending , yet as such a small cloud, it is of minor importance to us currently but still confirming the day for us.
K(blue) - 26.6
D(orange) - 26.4
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.
We are still in a and might even find ourselves in a very huge and scuffed bullflag. Connected to a beautiful bull we can look at a nice bounce off the descending support.
Overall, we are looking at still a nice down trending action and a downtrend for almost a month. This channel has been very important. We have wicked below yet not closed below it. Still seeing some indication all across and even though it might be the most single candle this year we still need to be very careful with a possible long position. Stop Losses are very important and not to be neglected.
What do we want?
We want to close above 3550 and as a bull .
Considering a small long with SL at 3350 or close below 3434.
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