Market Makers are now in control as we can see with those Bart patterns forming up as demand faded away and supply is also weak.
We have strong orders in the books around 47.5 and 50k acting as major resistances across the board.
Swaps now showing more frequently trading above spot which implies bearishness BUT we don't have yet the structural daily trend from...
I've been out since my 12H SHORT alert signaled at $46700 on 9 Sept. Not financial advice. Michael Saylor is a TOP Signal in my opinion. He always announces a purchase of #bitcoin before a crash. This 1D Candle closes in 7 hours. See you later traders be safe and good luck.
"Now it's time to say goodbye to all our family" LoL :)
Fasten your belts we finally entered into consolidation market with some ups and downs along the way.
To start I do not (yet) think we are in a bear market. This drop was necessary and long time coming after the slow grind on weak volumes and strong sell pressure coming from the books.
Something I didn't cover in the video is the volumes on CME and BAKKT as...
Nice momentum showing up on Bitcoin. We pierced right through 35 and 37k important levels. Price now need to sustain above the 35k to be in relatively bullish waters before next resistance range.
However, we are not yet back into high probably bull market trend since we have the 45-47k as a very significant range (50% between local top and local lows)) and we...
as always braced with the fear and loathing and some bottom dwelling baits just in case of a flash dump to wash everyone out before kicking it 2017 style for the next two months ... that last dip was maybe it, but when its a maybe, there is usually a nuke just to make sure nobody gets comfy in btc country!
The books show significant cluster of orders between 50 and 52k. Right after up to 60k not much (for the moment).
Which implies that a move very fast towards 60k could happen if we break 52k.
Swaps trading consistently above spot BUT similarly like in the previous bull run from 10k. We have Binance and OKEX perpetual swaps trading bellow.
This implies that...
Now Now we are between the two boundaries of red and green;If the price of Bitcoin can go out of the green range upwards, the position is long, and if it hits the green zone, the position of shorts is recommended.