đ¨ Bitcoin & Crypto Market Update â Summary
đ Bitcoin is showing signs of a bullish trend, breaking key resistance levels and the 200 Daily SMA.
đŻ Key price targets: $71,000â$72,700, with a potential move toward the major resistance around $82,000.
đ Bull Market Confirmation: BTC needs to break above and hold the $82,000 weekly high to confirm a stronger bull market.
đ Golden Pocket Retest: The 2H chart has broken above the Golden Pocket, and the current retest could potentially offer a Long opportunity.
â ď¸ RSI Warning: Daily RSI is above 70, so a short-term pullback or retest is possible.
đ° Spot Portfolio: Buying was made around $62K and after the major trendline breakout, with an average entry of approximately $63,200. The position is currently in profit.
đ Market Strength: Large short liquidations and rising spot volume suggest stronger buying pressure.
đŚ ETF Inflows: Bitcoin ETFs recorded a significant inflow of nearly 8,000 BTC on the 19th.
â ď¸ Key Takeaway: Aggressively shorting the market out of fear can be risky. Patience and confirmation are important before entering new trades.
đ Bitcoin is showing signs of a bullish trend, breaking key resistance levels and the 200 Daily SMA.
đŻ Key price targets: $71,000â$72,700, with a potential move toward the major resistance around $82,000.
đ Bull Market Confirmation: BTC needs to break above and hold the $82,000 weekly high to confirm a stronger bull market.
đ Golden Pocket Retest: The 2H chart has broken above the Golden Pocket, and the current retest could potentially offer a Long opportunity.
â ď¸ RSI Warning: Daily RSI is above 70, so a short-term pullback or retest is possible.
đ° Spot Portfolio: Buying was made around $62K and after the major trendline breakout, with an average entry of approximately $63,200. The position is currently in profit.
đ Market Strength: Large short liquidations and rising spot volume suggest stronger buying pressure.
đŚ ETF Inflows: Bitcoin ETFs recorded a significant inflow of nearly 8,000 BTC on the 19th.
â ď¸ Key Takeaway: Aggressively shorting the market out of fear can be risky. Patience and confirmation are important before entering new trades.