BTC is currently testing the Feb 6th-7th (orange circle) daily timeframe candles as support. This structure test is healthy as it will continue to pull in more shorts who have been over-confident since the May 19th Selloff.
Shorts are now 110% higher than the previous 2021 high set on May 19th. If you look at what happened on Feb 8th - there was a large green candle that took BTC up to
46K in 1 day.
Something similar could happen here if shorts are used to squeeze price higher.
Shorts are now 110% higher than the previous 2021 high set on May 19th. If you look at what happened on Feb 8th - there was a large green candle that took BTC up to
46K in 1 day. Something similar could happen here if shorts are used to squeeze price higher.
Nota
Funding Rates largely negative again meaning shorts are once again overconfident here. The volatility will likely cease once Powell begins speaking at 2 PM as mkt realizes there is no major change in his stance only MORE dovishness. Get ready for rip higher @ 2 PM Eastern
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.