⚡️ What is next for BITCOIN❓
📉 Today #Bitcoin is falling by around 1%. Altcoins are not sure where to go from here. Most of the #crypto project in a slight fall.
❓So, as usually, our favourite question - what is next for #BTC ? Is it just a small correction after good Sunday's and Monday's growth or Bitcoin again stumbled upon strong support of $70K?
💡On Monday I was mentioning that I will not be surprised to see positive net flow into Bitcoin ETFs. And guess what have happened? Yesterday, significant net inflow of more than $400 millions(see the picture below 👇) . And the main role was taken by Fedility this time! And as it was said before price is directly correlates with net money flows.
📊 Another thing is that today a lot of $BTC shorts and longs were liquidated... However shorts are piling up again around $71K level (see the pictur below👇). And as we have already learned in many cases liquidity is tend to be grabbed...
✨ Technically bullish doji have been forming on 1D $BTC chart these days (see the picture below 👇) however I believe that with today's daily candle close this pattern will be rejected..
➕ Currently we several positive factors for $BTC growth. ETF buyers are back again. Yeah Grayscale still have a lot of Bitcoins but sooner or later their sales will be over... Technically charts are looking good.
➖However the main reasons why we haven't seen growth these days is FUD and actions of SEC against crypto. First they accused Kucoin of money laundering. Now they want to fine Coinbase for $2 billons. I think that both of exchanges can deal with it. Ripple is a good example that it is possible to win SEC. Even with these negative news Bitcoin rejected to go below $68K which is again good sign.
p.s as I am always saying there are no 100% situations in crypto, so it is always good to take profit from time to time and manage your risks.
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