Binance 50x theta perps launch tomorrow while at the same time the mainnet 2.0 goes live. This could be a sick short and ftx already lets you short it so you could frontrun if u want.
Seems like some buy the rumor sell the news event that could result in a nice duuuuuummppp.
So pick your side!
no financial advice but im going to use low capital high lev for this
If we break 9100 which has big sellwalls and a bearish selling pressure we could test 9240 and even further if that triggers enough liquidations. short term top would be the channel top of the blue zone.
This is a similar pattern to what the stock market is seeing right now.
We could see a fomo rally to the levels of the upper Megaphone channel but i expect a sharp selloff if it cant be broken.
Bearish pre halving is that we cannot reach the top and sell off from here because imho i see the miners pushing the price up to sell btc at as much profit before their...
Looking at the Heatmap on tradinglite i can see some big orders on Bitmex at 7576, if we dont hold that theres some more support at 7480 for the short term.
We got sellwalls above on Binance at 7800, 7900 and 8000 at around 500BTC each.
We also have alot of really big buy walls around deeper levels so some might anticipate a drop to retest previous lows.
Relief rallies seem to retest prior lows... doesnt mean we have to go sub 5k, some whales that anticipate this might try to frontrun and set orders above 5k so set up some different entries.
No trading advice!
There was actually no price increase from yesterday although it might seem like it but the futures contract simply expired and reset the price!
Oil sees huge selling pressure because they knew due to the non existing demand though the Corona shutdown. They kept producing oil knowing there would be a supply shock.
Since the new contracts started at 25$ i think...
We are still in a Bear Market but the Reaction Rally/Recovery Uptrend we are experiencing is only natural, considering the Liqidation Pressure that was brought upon the Price through overleveraged Positions getting wiped out left and right.
Imho we are now moving in a fair value bearish trend where we are not oversold anymore and are testing some of those newly...
We have seen that play time and time again. Dont use high leverage as these exchanges trade against you.
With more kyc/aml this year and a potencial stablecoin prohibition we will hopefully see fewer manipulation and stablecoin brrrrrrr.
Trade save, this isnt financial advice.