Bitcoin waiting to break out of the range
Greetings, colleagues!
Bitcoin is held in the 29k to 32k range and collecting liquidity. Correlation with SPX is high lately, which suggests that major moves should be expected after the quarterly expiry of VIX and SPX.
We have unclosed gaps on the daily timeframe above ~35270 and below ~24630. Probably in the second half of June we will see one of them fill and I do not exclude the reverse movement after filling.
In the dark liquidity we can see buying of cryptocurrency related stocks. COIN especially stands out on their background, the purchases of which are at the highs of the historical range. Indirectly, this is of course a bullish signal for cryptocurrencies.
Nothing interesting is happening in bitcoin dynamics. Everyone is waiting and looking for clues "What's next?"
Bitcoin is held in the 29k to 32k range and collecting liquidity. Correlation with SPX is high lately, which suggests that major moves should be expected after the quarterly expiry of VIX and SPX.
We have unclosed gaps on the daily timeframe above ~35270 and below ~24630. Probably in the second half of June we will see one of them fill and I do not exclude the reverse movement after filling.
In the dark liquidity we can see buying of cryptocurrency related stocks. COIN especially stands out on their background, the purchases of which are at the highs of the historical range. Indirectly, this is of course a bullish signal for cryptocurrencies.
Nothing interesting is happening in bitcoin dynamics. Everyone is waiting and looking for clues "What's next?"
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