BTCUSD ❕ the market is ahead of the curve
Bitcoin price continues to liquidate LONG futures positions for 4 days in a row.
In the last 24 hours, the sum of all liquidations has approached one billion.
The number of SHORT positions continues to increase.
The FOMC meeting awaits us on Wednesday, so we should not expect volatility to decrease until Wednesday.
The global uptrend is broken.
Price is oversold on the 1W Timeframe RSI for the first time since December 2018.
On the 30m Timeframe, the TD Sequantial indicator gave a reversal signal.
BTC has fallen below the trend line and continues to move in a global downward channel.
I expect that the saw has just begun, Bitcoin may go for a retest of the upper boundary of the current range, but after fixing under it will continue to fall. These movements may be a continuation of the search for a local bottom.
In the last 24 hours, the sum of all liquidations has approached one billion.
The number of SHORT positions continues to increase.
The FOMC meeting awaits us on Wednesday, so we should not expect volatility to decrease until Wednesday.
The global uptrend is broken.
Price is oversold on the 1W Timeframe RSI for the first time since December 2018.
On the 30m Timeframe, the TD Sequantial indicator gave a reversal signal.
BTC has fallen below the trend line and continues to move in a global downward channel.
I expect that the saw has just begun, Bitcoin may go for a retest of the upper boundary of the current range, but after fixing under it will continue to fall. These movements may be a continuation of the search for a local bottom.
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