Bitcoin should hold here before heading to new highs. I'm not confident yet and will monitor closely. However I am leaning towards a bottom here.
A quick summary of what I see.
Large TWAP spot buyers frontrunning a potential perp breakdown to 65k.
Large liquidity cluster, making it unprofitable to attempt a flush to 65k.
Unclear if remaining aggressive OI is longs or shorts. Likely a combination of both, meaning a cascade may be weak.
A failed breakdown attempt earlier today.
A quick summary of what I see.
Large TWAP spot buyers frontrunning a potential perp breakdown to 65k.
Large liquidity cluster, making it unprofitable to attempt a flush to 65k.
Unclear if remaining aggressive OI is longs or shorts. Likely a combination of both, meaning a cascade may be weak.
A failed breakdown attempt earlier today.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.