Just took a look at the data—there’s something here.
$BTC 65192, up 0.28%. On the surface it looks calm, but if you look closely, the trading volume has surged by 41% while the price hasn’t moved much—that’s not consolidation, that’s building strength. I currently have a long order placed around 65,000, with a stop-loss at 64,700. If that level can’t be held, then I’m looking at 64,500.
The funding rate at 0.0093% is a good sign. The bears are still paying the longs, which suggests the short side hasn’t dared to press. But those two guys shorting KAITO and DEXE are kind of interesting—their funding rates are -1.19% and -0.28%, respectively. How badly are they trapped that they’re still stubbornly holding on?
In the short term, I’m leaning bullish. Resistance is at 65,300; if it breaks through, watch for 66,000. Support at 64,700—if that breaks, then 64,000.
At this point, both bulls and bears are holding their breath. It’ll come down to who can’t stand it first.
#Write2Earn #Crypto
⚠️ Personal opinion only, not investment advice.
$BTC 65192, up 0.28%. On the surface it looks calm, but if you look closely, the trading volume has surged by 41% while the price hasn’t moved much—that’s not consolidation, that’s building strength. I currently have a long order placed around 65,000, with a stop-loss at 64,700. If that level can’t be held, then I’m looking at 64,500.
The funding rate at 0.0093% is a good sign. The bears are still paying the longs, which suggests the short side hasn’t dared to press. But those two guys shorting KAITO and DEXE are kind of interesting—their funding rates are -1.19% and -0.28%, respectively. How badly are they trapped that they’re still stubbornly holding on?
In the short term, I’m leaning bullish. Resistance is at 65,300; if it breaks through, watch for 66,000. Support at 64,700—if that breaks, then 64,000.
At this point, both bulls and bears are holding their breath. It’ll come down to who can’t stand it first.
#Write2Earn #Crypto
⚠️ Personal opinion only, not investment advice.