Don't be fooled by Bitcoin narratives even when they..
Updated
Don't be fooled by narratives even when they align with current price action.
Just because "Bitcoin was designed for these cases" and price is moving accordingly doesn't meant one are connect to another in the context of short term price action. I explain my views on this in the video.
Bitcoin hit serious resistance level at 25k where there was significant short pressure with sell orders that got taken and now parking slightly bellow it.
I think even we se short term retrace towards the 23.1 control point level eventually we bounce out of it towards next target levels above 28.9k 2021 yearly open.
Check the video for full range of ideas and interesting data point that formulate my current view on Bitcoin.
Don't forget to HIT THAT ROCKET 🚀 button!!!! 🫡
Just because "Bitcoin was designed for these cases" and price is moving accordingly doesn't meant one are connect to another in the context of short term price action. I explain my views on this in the video.
Bitcoin hit serious resistance level at 25k where there was significant short pressure with sell orders that got taken and now parking slightly bellow it.
I think even we se short term retrace towards the 23.1 control point level eventually we bounce out of it towards next target levels above 28.9k 2021 yearly open.
Check the video for full range of ideas and interesting data point that formulate my current view on Bitcoin.
Don't forget to HIT THAT ROCKET 🚀 button!!!! 🫡
Note
We are heading FAST toward the 28-32k range.
Now important to note there are some serious sell pressure into this range.
We could see massive rejection or a consolidation. Overall this zone looking like a good place to think about de-risking some of the long exposure from the lows.
Odds of a strong pullback here became bigger in last 48h as there is some changes in Futures and some liquidity ratios.
As of now trend wise still looking great. Just be aware that structurally we hitting important technical zones.
Those who been following me know that I am not convinced that the bottom is in due to lack of strong signs explained in some of my videos. Likewise I treat risk very prudently.
Note
Futures flip flopping. On going perpetual_swaps-to -basis consistently negative which create bullish conditions for continuous upmark. Options pricing CALL options for March, April and June expensive for strike prices up to 60k PUT are very cheap (ideal for hedging spot/swap positions)
The order-books do have strong resistance at 28-30k. Liquidity after that range is significantly is weaker.
A surprise move here is breaking past 30k a lot of liquidations get triggered and propel price very aggressively in one of the stronger up moves in recent years on the back of problems emerging with Ethereum or the liquidity problems with more than 100 banks as result of FED and US Gov Actions in past 2 years.
Overall bull rally still looking solid from a trend, momentum and price structure perspective.
Note
Binance & OKX still seeing heavy short pressure vs SPOT.
CZ is bullish while we plebs consolidate or possible pullback maybe into 24s before attempting the 30k.
Note
Pushed new video update at
D7R
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