#Bitcoin mid-term prediction
Trend is still re-setting from $14k pump.
I'm using recent price action > old price action - therefore $6xxx levels are mostly ignored. CME price inefficiency in these levels adds confluence to this view.
$5100s is the definitive bottom for me.
Ton of confluence packed into one level:
- Double monthly VWAP
- Price inefficiency fill
- 200 wMA
Price dumped through $7350s trapping a lot of longs (liquidity). Now if price "were" to go back to this level I would 100% look to short. HARD.
Open interest (Bitmex) is still not showing anything bullish. Keeping stable and increasing.
What this means:
> Few shorts taking profit
> New blind longs opening
Funding is about to spike negative for the first time in a while - bulls should get some rest here shortly.
Keep updated by following me here and on Twitter: MacnBTC
Trend is still re-setting from $14k pump.
I'm using recent price action > old price action - therefore $6xxx levels are mostly ignored. CME price inefficiency in these levels adds confluence to this view.
$5100s is the definitive bottom for me.
Ton of confluence packed into one level:
- Double monthly VWAP
- Price inefficiency fill
- 200 wMA
Price dumped through $7350s trapping a lot of longs (liquidity). Now if price "were" to go back to this level I would 100% look to short. HARD.
Open interest (Bitmex) is still not showing anything bullish. Keeping stable and increasing.
What this means:
> Few shorts taking profit
> New blind longs opening
Funding is about to spike negative for the first time in a while - bulls should get some rest here shortly.
Keep updated by following me here and on Twitter: MacnBTC
By MacNBTC ❄️🐺
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
By MacNBTC ❄️🐺
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.