1) After a month of ranging behavior, Bitcoin breaks a key support level (7700ish), and with all the long liquidity lying underneath, price essentially prints a green dildo stop hunting the bullz that flipped bearish below 7.7.
2) Price fails to close above prior Major support that naturally acts as resistance (on the way up)
Conclusion #1 that leads to a...
After a successful bearish SFP on the 6h, at a liq zone which lies at the top of the range, price logically finds support and continues to hover over the trend line with no Meso/Daily close below it.
Initially price found support at 8255 ,and afterwards it retested the 8473 lvl, which acted as resistance on the way up, but after the impulsive move...
Watching closely the 8985 lvl (weekly open) on BFX. Mid week and we are already seeing nice reaction of this level.
Any daily/meso close *below* this line would indicate underlying weakness
If BTC manages to hold the weekly open ofc the 10k range is a relevant target that aligns with some other stuff, as seen on the chart
As BTC breaks out and starts to rise traders tend to feel its rising cycle is never going to end and build confidence based on hysteria. This misjudgment provides a blind faith in investors as the chart takes exponential curve based structure. In the state of rising parabolic arc, the price continues to rise without a pause and/or with series of...
With Bitcoin getting close to its biggest resistance ever (6k prev major support) a few questions arise
Will it be able to break it on the 1st try >highly unlikely...
We have massive bear divergence with declining volume in an overextended move aka rising wedge.
With Bitcoin trending well above 4000$ for the past month, the market sentiment has shifted and NULS is not falling behind.
NULS was trading a range for 108days. The mid-term spike, backed by volume, to 0.00015BTC got my attention and NULS has been trending ever since. The bullish trend (HH>HL) is intact ever since the 10th of Jan low, puncturing through...