Bitcoin Update:
- Bitcoin continues trying to push upward, but Binance continues selling it.
- New protections are being observed in the FUTURES section up to $88.1k, around -$250M
- The recent mini rally the price experienced was driven 100% by FUTURES.
- The funding rate is starting to heat up.
EMHO:
The price is in the same loop as it has been for the past few weeks: it tries to push upward, but Binance sells right before the breakout. For now, the PUMP is coming directly from FUTURES and Binance keeps selling. To see a range breakout, Binance needs to start buying at market; otherwise, any rise will be reversed, as it did during the previous weeks. Support around 82-83k remains strong, so it’s only a matter of time for an upside breakout.
$BTC
- Bitcoin continues trying to push upward, but Binance continues selling it.
- New protections are being observed in the FUTURES section up to $88.1k, around -$250M
- The recent mini rally the price experienced was driven 100% by FUTURES.
- The funding rate is starting to heat up.
EMHO:
The price is in the same loop as it has been for the past few weeks: it tries to push upward, but Binance sells right before the breakout. For now, the PUMP is coming directly from FUTURES and Binance keeps selling. To see a range breakout, Binance needs to start buying at market; otherwise, any rise will be reversed, as it did during the previous weeks. Support around 82-83k remains strong, so it’s only a matter of time for an upside breakout.
$BTC