Just a quick overview of BTC / XBT
We've had quite the boring last few weeks as volume has been slowly diminishing into boring price action.
I'm neutral / bearish on this one, but really believe things could go either way right now.
While I feel we could see the high 5k - low 6k levels once more, we've seen MM's and whales pump the hell out of bitcoin time and time again just to wrinkle everyones brain and bring tears from liquidations.
I've decided in this analysis to take a closer look at the 1D bull and bear runs to see if I could find anything interesting.
While the result is somewhat anticlimactic, it does clear up some perspective on the threshold of leverage between the bulls and bears [if there's even really a difference at this point].
Seeing the bull squeeze and bear gap does however tell us that something needs to happen in the next week, as we'll observe some important battles being fought.
The bulls are going to have to not only defend but put out some major pumps if they want to avoid a significant dump from hitting the bear gap.
I believe we are over-due for some major price action to occur, so get ready :)
Safe trading everyone!
-Doji
We've had quite the boring last few weeks as volume has been slowly diminishing into boring price action.
I'm neutral / bearish on this one, but really believe things could go either way right now.
While I feel we could see the high 5k - low 6k levels once more, we've seen MM's and whales pump the hell out of bitcoin time and time again just to wrinkle everyones brain and bring tears from liquidations.
I've decided in this analysis to take a closer look at the 1D bull and bear runs to see if I could find anything interesting.
While the result is somewhat anticlimactic, it does clear up some perspective on the threshold of leverage between the bulls and bears [if there's even really a difference at this point].
Seeing the bull squeeze and bear gap does however tell us that something needs to happen in the next week, as we'll observe some important battles being fought.
The bulls are going to have to not only defend but put out some major pumps if they want to avoid a significant dump from hitting the bear gap.
I believe we are over-due for some major price action to occur, so get ready :)
Safe trading everyone!
-Doji
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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.