📊 BTC $68,441 🔴-4.2% | ETH $1,936 🔴-4.1% | SOL $78 🔴-4.0% | BNB $632 🔴-4.0% | BTC Dom 58.9% | Fear&Greed 13 Extreme Fear
BNB retail is crowded long and smart money just walked off that bet.
Retail L/S 2.46 on BNB, smart money sitting at 1.10, funding cooling off. Same story on BTC actually, retail 3.23 vs smart 2.11 with funding still positive at +0.006%. Nobody got flushed out. That's the whole problem.
BTC is holding around 68.4k, down over 4% and it tapped 67,568 support almost to the dollar before bouncing. Volume is running 0.04x average though, so that's not capitulation, just a slow grind lower. RSI 23.86 is deep oversold and sure a bounce is possible, but MACD is bearish and price sits under every EMA. Oversold bounces in that kind of structure tend to be 1-2% stop hunts, not bottoms.
Macro isn't helping either. Gold near 3,874, dollar posting its best week in two months, yields rising on inflation again, tech sliding. Money is hiding, not buying risk. Fear and greed at 13 says the same thing.
I'm flat. Waiting for a real volume flush or a clean reclaim of 70,214 before I touch anything, and even then with small size.
Not advice, just my read. You waiting here or buying the dip?
#Trading #Binance #Bitcoin #Ethereum #Crypto
BNB retail is crowded long and smart money just walked off that bet.
Retail L/S 2.46 on BNB, smart money sitting at 1.10, funding cooling off. Same story on BTC actually, retail 3.23 vs smart 2.11 with funding still positive at +0.006%. Nobody got flushed out. That's the whole problem.
BTC is holding around 68.4k, down over 4% and it tapped 67,568 support almost to the dollar before bouncing. Volume is running 0.04x average though, so that's not capitulation, just a slow grind lower. RSI 23.86 is deep oversold and sure a bounce is possible, but MACD is bearish and price sits under every EMA. Oversold bounces in that kind of structure tend to be 1-2% stop hunts, not bottoms.
Macro isn't helping either. Gold near 3,874, dollar posting its best week in two months, yields rising on inflation again, tech sliding. Money is hiding, not buying risk. Fear and greed at 13 says the same thing.
I'm flat. Waiting for a real volume flush or a clean reclaim of 70,214 before I touch anything, and even then with small size.
Not advice, just my read. You waiting here or buying the dip?
#Trading #Binance #Bitcoin #Ethereum #Crypto