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Seems to be a similar pattern playing out here.
Retail and short term coin holders keep selling at a loss.
Trend has been broken similar to scenario back in June.
This time instead of China miners shutting down, its Kazakhstan. Internet has been shut off in the 2nd largest bitcoin mining country which severely will effected the hash rate.
Ethereum is breaking out on lower Time frames.
Macd is about to make a bullish divergence crossing.
Higher time frame shows 1.168 fib extension level at $6085
Long squeeze just occurred on BTC. Over leveraged traders will probably get wiped out.
Cake has just broken out of its 3 month descending wedge.
This is just the start of NFTs and play to earn games on BSC.
Weekly cake tokens burns making the asset deflationary will ultimately result into massive supply shocks.
If this fractal plays out, next target for bitcoin would be around $70,000 around the start of November.
$57,000 - $58,000 would be critical supply/demand levels. Watch out for there's areas, as fake outs will probably occur by market makers.
Bitcoin is completed or has completed its final correction wave.
Volume profile shows $36,000 - $40,000 as a strong support cluster as much demand was filled at these levels before.
On-chain data shows signs of accumulation as exchange reserves are at all time lows.
Expecting to see a bounce from here. If leverage & greed continues to increase, expect nasty...
HBAR has broken out of its downtrend resistance. Last time HBAR has closed above its trend resistance back in January, the price went parabolic.
Same scenario is potentially at play here. We could see new price discovery occur.