$BTC Bullish or bearish? Tomorrow’s ETF data will decide
Last Friday, spot BTC ETFs saw net outflows of $643 million in a single day, the largest this month.
ETH ETFs fared even worse, with outflows for five consecutive trading days.
There was no new data over the weekend; the next update comes tomorrow (Monday).
Looking at the 15m chart over the past 24 hours:
High 78285 → low 77392 → current price 78028, a 0.76% rebound within the range.
Bollinger Bands: upper 78163, middle 78006, lower 77850.
My take:
1/ It only counts as a short-term recovery if price holds above 78163
2/ 77850 is the intraday line of defense; 77392 is the previous low
3/ Invalidation: if a 15m candle closes below 77392, I’ll admit I’m wrong and turn bearish
If outflows continue to grow on Monday, this rebound may not have enough steam to hold.
What do you think: will ETFs see inflows tomorrow, or will the bleeding continue?
#BTC #ETF #ContentMining
Personal opinion only. Be aware of the risks. DYOR
Last Friday, spot BTC ETFs saw net outflows of $643 million in a single day, the largest this month.
ETH ETFs fared even worse, with outflows for five consecutive trading days.
There was no new data over the weekend; the next update comes tomorrow (Monday).
Looking at the 15m chart over the past 24 hours:
High 78285 → low 77392 → current price 78028, a 0.76% rebound within the range.
Bollinger Bands: upper 78163, middle 78006, lower 77850.
My take:
1/ It only counts as a short-term recovery if price holds above 78163
2/ 77850 is the intraday line of defense; 77392 is the previous low
3/ Invalidation: if a 15m candle closes below 77392, I’ll admit I’m wrong and turn bearish
If outflows continue to grow on Monday, this rebound may not have enough steam to hold.
What do you think: will ETFs see inflows tomorrow, or will the bleeding continue?
#BTC #ETF #ContentMining
Personal opinion only. Be aware of the risks. DYOR
