BTC starting to break above Kijun. Would have to see the daily close above here to gain a bit of preemptive bullish signs. Positive sentiment is rising, and shorts are still at ATH, so a colossal short squeeze is on the horizon if price upticks a bit more.
Huge news coming today the ProShares ETF decision from the SEC Due to such equilibrium in the market, we need a catalyst like this to give BTC direction. If the etf is accepted (somehow doubt that) -> margin shorts are sky high so a breakout would give us a massive blast up. If the etf is denied -> likely to get a sharp degenerate sell off. If it's delayed,...
Huge news coming today the ProShares ETF decision from the SEC Due to such equilibrium in the market, we need a catalyst like this to give BTC direction. If the etf is accepted (somehow doubt that) -> margin shorts are sky high so a breakout would give us a massive blast up. If the etf is denied -> likely to get a sharp degenerate sell off. If it's delayed,...
Bitcoin Shorts - Resistance held followed by finding a floor at support.
Things have been hugely bearish of sentiment lately, the parabolic short setup we saw in April could be a fractal developing. Watching closely, tight stops. As we're still in the bear grind market cycle.
Things have been hugely bearish of sentiment lately, the parabolic short setup we saw in April could be a fractal developing. Watching closely, tight stops. As we're still in the bear grind market cycle.
Look at the RSI vs price at those key points in time (yellow lines). Each time RSI broke 45 BTC had the biggest of sell offs. We're currently nearing that area. Should that break, well the probability is very high of that capitulation the whole crypto community if waiting for.
It's been a hell of a bear trend and year for all of us at crypto traders, many lessons learnt with great opportunities now to accumulate top shitcoins at low prices. Bit of an overview and what I'm watching for. Not trading much, picked up some long term projects, markets aren't conducive to A grade trades right now, and I only try to trade when markets are most...
- Broke 38 day resistance / sideways zone - Broke Kijun - Kumo resistance held Now THAT's a breakout, Bitcoin. Happened so fast. ETF comments possible catalyst + loads of recenty overall crypto bullish news. (etf article below)
My thoughts on bitcoin structure. FA News having no effect on price. Crowd sentiment very bearish.