Analysis $BTC 05/29/2024 Bitcoin, yesterday we had a good | Ualifi Araújo on Binance Square

See original

--

Bullish

Analysis $BTC  05/29/2024
Bitcoin, yesterday we had a good reaction on the green line on the chart and jumped to the blue band on the chart (USD 68,900), but unfortunately we were rejected there and fell back to the same price we were at yesterday at the time of my publication. 
I personally don't like to see the blue band acting as a resistance, if the BULLS don't close above USD 67,500 today, then we will again test USD 65K and then move higher, and that would set us back here to USD 73K this week.
However, we are at a price where we have already seen that big bulls and whales are interested in maintaining it, so I believe we will jump from here soon and reach USD 70K to pass this time!
Today we already have a good movement of BULLS close to current prices, including some large purchase orders for 100 BTCs have already started to be opened at USD 66/ USD 67K, which is a good sign. It was important for cash buyers to start acting here but they are still cautious, this needs to change and so we will jump, the next 3 hours is key.
The big BEARS are not sitting still either and have opened a wall of huge SALES extending from USD 70K up to USD 74K. It is worth mentioning that there is an order for 185 BTCs for sale at USD 70K, of course orders this large will never remain open if the price skyrockets quickly.
I still believe we will bounce off this green line on the chart and not need to go all the way to USD 65K.
Not much to say here... USD 73K this week is still what I expect!
(SHARE THIS GRAPHIC IF YOU CAN!)

LIVE

Ualifi Araújo

--

Bullish

Analysis $BTC 05/28/2024

Bitcoin, surprised...I was really surprised yesterday, and don't think it was with the price falling, I was surprised how people still fall into the same trap every time, no matter how many times any news related to MT.GOX comes out, every time Sometimes a lot of people start selling for nothing.

People act as if at no point should Gox victims receive their BTCs or money, it will happen at some point, and there is nothing we can do, but that doesn't mean we will have all these holders selling at the same time , so just stop selling because of GOX, we will go years and years and you will keep falling for the same FUD?

That said, let's get on with life...

We had a drop yesterday and it came lower than expected, but we already know that it was not a natural drop and what is even more obvious is that we must hold the vast majority of these BEARS that are at USD 69,500. What makes me optimistic here is that there were no big bulls positioned at USD 67,500, however, a big whale made a really big spot purchase here and we should have some support for us to pull back this current candle and open the other one positive.

We are currently being supported by the EMA 100 (4h), so I expect an important reaction from cash buyers here and that is what we have already started to see.

Yesterday, as I said earlier, I hoped it wouldn't be so easy to break USD 70,500 but obviously we weren't supposed to go down that much, but we already know the reason, so I think that in the next test at 70,500 it will be broken and we will go to USD 73K .

The big bulls have not moved, they remain at the same prices, but spot buyers are acting here and should lead during the afternoon. However, the opposite is not true... see that the BEARS even though prices are falling, they have increased their positions, and are abandoning USD 71K and allocating themselves to USD 73K, they have NO conviction to hold the prices down here.

USD 73K this week, that's what I expect

Remember: THEY DON'T WANT YOU TO WIN THIS GAME!

(SHARE THIS GRAPHIC IF YOU CAN!)

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

Replies 11

Quote 1