Bitcoin has gradually but consistently lifted from $31,000 to levels near $40,000. However, the flagship cryptocurrency has not entirely broken above the resistance at $40,000, especially with immense resistance presented by the 200 Simple Moving Average (SMA) on the four-hour chart.
At the time of writing, BTC trades at $38,800 following a minor rejection from...
I would not call this recent move up a "short squeeze" despite the sudden inflow of margin shorts. There are still roughly 3 times the number of leveraged longs and steadily increasing. Traders still see this dip off the ATH as a "buying opportunity" and have not been liquidated en masse yet.
Hello Dear Traders,
In Last Idea i said tht on Weekly Timeframe We can see Comeback of Bulls and on Fresh Monday Weekly OPEN, we will see Breakout frm Upper Trendline,
As Expected Today After Weekly closing BTC gave breakout above the Resistance Trendline.
Now BTC will Try to sustain above Trendline and may visit again for retesting of breakout near trendline....
Lets look at all the facts of BTC regarding TA.
On the monthly chart– We have had a evening star formation. This is a Reversal pattern.
Weekly chart – We are in a weekly sell range and Btc is making Lower lows and Lower highs. Currently in a down trend.
Daily – We are in daily sell range.
BTC is bearish for the time being. We have liquidity squeezing inside the...
This 3th idea get most of my attention. Couple reason for that. This II type harmonics patterns (Deep Crab and Anti Shark) often appears 4-5 or B-C of Elliott wave fractal and complete previous trend or correction. That can be case here and can fit EW count finish 4th wave for this drop and just to not to enter in zone of 2nd wave.
REMEMBER all this charts is...
While both shorts and longs are irresponsibly high, the shorts are holding like an iron tower in anticipation of the death cross. I believe the market is turning, but I'm going to wait for this chart to change before I buy..
If the price is going to break the upper band channel, it is going to see the 41k zone first
If it does not break the upper band channel, it is going to see the 37.800 price...
This is not a financial advice!
Bitcoin is moving a little bit what is your opinion ? ?
Bitcoin is stuck under daily time frame range of 30k and 40 k . there is higher probability for price to manipulate either side of the consolidation range.
i expect price to revisit 31000$ again and price will return up to the range for the further consolidation
Hello my friends!
It was the largest percentage increase of shorts ever. Btw I would never short BTC after a 50/60% move down. The risk reward is way too high.
You all know for example from gamestop what a short squeese can do and how the price bounces. In the last two weeks, the shorts have risen by about 2300%. For comparison, at the last strong drop in march...
Hello Traders. Here I would like to revisit the "big" drop we encountered after we witnessed near ATH levels. Now that we have some more data to play with, what kind of information can we pull from these levels? We have to understand this from two perspectives:
1. Market Psychology Analysis
2. Technical Analysis (Realistic)
We are now...