Bitcoin (BTC) • Are the Japanese bullish?
Updated
Bitcoin trading at very sticky 19k range.
The BTCJPY pair has some interesting volumes visible on FTX which i discuss in the video and what criteria m looking at to see it as good and where it invalidates my bias.
Funding rates are growing positive which is not good but while trades above 19.4 i see it structurally good. Nonetheless I'm concerned about it because even Funding weighted by Open Interest also rising sharply.
The orderbook also show some weakness and if PA break bellow 19.2 things can drop sharp unto the 18k.1 levels.
But overall we are inside in a macro lower range where it doesn't make sense to be net short but keep an expectation of revisiting lows for even better RR longs on those 17k levels.
The BTCJPY pair has some interesting volumes visible on FTX which i discuss in the video and what criteria m looking at to see it as good and where it invalidates my bias.
Funding rates are growing positive which is not good but while trades above 19.4 i see it structurally good. Nonetheless I'm concerned about it because even Funding weighted by Open Interest also rising sharply.
The orderbook also show some weakness and if PA break bellow 19.2 things can drop sharp unto the 18k.1 levels.
But overall we are inside in a macro lower range where it doesn't make sense to be net short but keep an expectation of revisiting lows for even better RR longs on those 17k levels.
Note
D7R
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