Honestly, this "bottom" is pretty weak. There are signs of incredible resiliency, but there's a breaking point for traders, and the market FUD/suppression/over-selling in order to orchestrate whales buying the dip to $30k-$35k might have been too aggressive. Bitcoin should/could claw back to $40k this weekend, which wouldn't be terrible, but it likely won't push...
Bitcoin has been operating sub 0sigma since the Elon fiasco kicked the market into high downward gear, however - this latest Trend Map (sentiment trend forecasts mapped to provide levels similar to Fib Retracement levels) looks like BTC might (maybe) try to stabilize and rise above the trend-median price (0sigma) which puts $53,500 to $58,000 (high target) on the...
Sentiment data is marginally different than traditional technical analysis.
Median Trend Price, aka 0sig = Orange Line
Resistance, aka 1sig = Yellow, upper
Support, aka -1sig = Yellow, lower
Extended Resistance/Support (2/-2sig) = gray, respectively
Green is the 3sig (extended target)
Red is the -3sig (retracement level)
Ranging between the -1 and 1 sig...
The pair is still in a downtrend and will probably decline to the bottom of the channel due to the oil price rally and crossing the short-term range. After that, if Dollar strengthens, buyers expect the price to reach to the upper edge of the channel. Meanwhile, the 4-hours trend line will show not much strong resistance.
looking at the chart we have marked out key levels with active Options strike prices supported with high volume and open interest. We plan to observe how price reacts at 1.3300 and 1.2500 levels prior the the expiration of these contracts. In terms of price action , Cable still maintains an upward trajectory in line with non-commercial sentiments and seasonal...
Long term we have a downtrend on USDCHF. Retail sentiment is also 70% long so looking for shorts here. However, recently price has started ranging and there is a slight uptrend in the last few days.
Either take a risky short now or wait until price breaks out of its current range.
Now, the effect of the major short squeeze has worn off. Where will BTC go now?
5 months of downward price movement with low volume and volatility is worrisome, but the recent breakout of the downward trend would remain a lone silver lining of this distribution period if BTC can fend off the 8k retest.
BTCUSD realized volatility_10 day is 1/3 of what it was...