Market liquidations over the past day, according to CoinGlass: ~71K traders, totaling ~$130 million — approximately 80% long positions and 20% short positions.
Last week, risk assets like BTC came under pressure due to geopolitics and rising inflation expectations in the US. This led to a bounce from 63.5K to 60K.
Currently, at the start of the new week, there’s no significant buyer activity. Rather, there’s a local squeeze towards 60K, where an important psychological support zone resides.
There are chances for growth, but only if BTC breaks above 63K and manages to hold there. Nonetheless, the prospects favor breaking below 60K and initiating a descent towards the lower boundary of the descending channel. That’s what I’m counting on.
#Bitcoin & #Ethereum are both in descending channels, forming a downward trend. Compared to previous scenarios with money flow on the 1D, it seems they're trying to reverse to the upside.
BUY/LONG positions could become available if, on a macro level, we see a higher low that could potentially retest the top of these channels.
According to the market structure, there's also a probability of retesting $2.5k $ETH and $52k $BTC
The #Bitcoin network 🚀 has successfully completed over 1 billion transactions since launching in 2009. It took Visa 25 years 👅 $BTC #crypto2024#cryptonews#bullorbear
$ONE #Harmony is trading within a descending channel. There's a significant chance we'll see a retest at the top of the channel (resistance).
While the price consolidates in the channel's mid. range, my next targets would be those 2 supply zones: $0.02195; $0.02590. Keep an eye on this channel. #altcoins#Cryptosignals#FuturestradingSignals
$BTC Bitcoin to the $100k!? Trying to compare previous bull rallies to the potentially upcoming one. Market structure looks the same. Even the money flow looks like it’s rising as in previous cycles.
Do you believe in this setup? Don’t be shy and smash an EMOJI if you believe in that promising $100k! #BullorBear#bitcoin#crypto2024
$BOME #BookOfMeme is still in this descending trend. At least there is a possibility to connect LH dots. Waiting for a breakout. Keep an eye on this channel.
If it breaks to the upside (through this resistance trend line) my target would be $0.0155-$0.0181. This setup is invalid if we break to the downside as I illustrated. #bullorbear#bome#MemeCoinsSeason
💰 $BTC Bitcoin increased by 5.66% in total after the Halving. The market has been pretty boring for the past week. Still, keep an eye on this consolidation channel.
Patience is the key in trading. Sometimes, doing nothing is the best thing you can do.
The market has been recovering since $BTC took part of the liquidity below $60k. Some altcoins made a new low but others didn't. This was expected (see the idea of the replied post and other updates)
However, $BTC left liquidity at $57k-$59k and the bounce is overextended now. We could expect another retracement, but this move down could not reach new lows, just form a higher low.
Whether $BTC and the rest of the market makes a new local low or a higher low, after this possible next pullback, it might be a good time to add exposure to the market, especially to low caps. If that happens I will be buying some and will share the setups.
On April 23, 2011, exactly 13 years ago, Satoshi Nakamoto sent the last Email stating that he, she, or they had "moved on to other things" and that "It's (Bitcoin) in good hands with Gavin and everyone." $BTC #bitcoinhalving#SatoshiNakamoto#BTC#bitcoin
Hello dear traders! Today, we're having an exciting day in the markets for $BTC , aren't we? We see that $BTC started the trading day at an impressive price of $66,352, up 2.16% from yesterday. This is a sign of a positive trend that we need to pay attention to.
Looking at the bigger picture a bit, Bitcoin found a strong support point at $60,000 and from there started to inch up steadily.
Overcoming the resistance levels at $62,500 and $63,500 is not just a temporary victory but also an important step forward in establishing investor confidence.
If you are reviewing your strategy, it is important to take note of the next important price levels. The $68,500 area is the main resistance point that Bitcoin is about to face.
Crossing this threshold could open the door towards the $70,000 target, which is not only a price milestone but also a signal that the bullish trend may continue. #bitcoinhalving#BullorBear#crypto2024#Megadrop