Catalyst of the Bull Rally: "Retail"Understanding the Past
When we examine the number of retail Bitcoin investors, we see that it stood at 43 million in January 2023. From that point onward, the number of individual investors increased steadily over 12 months, rising by 22% to reach 52.4 million, prior to the acceptance of Spot ETFs. Following the approval of Spot ETFs, this figure saw a slight decline, reaching 51.6 million by the end of February 2024.
However, the "ETF Bull" rally, led by the momentum of Spot ETFs, pushed the retail investor count upward, peaking in June 2024 at 54.14 million. After this peak, a downward trend in retail investor numbers began.
The Impact of Retail Investors on Price
Historical data reveals a close relationship between the growth in the number of retail investors and Bitcoin’s price movement.
Returning to January 2023, we observe that as the retail investor count rose significantly, Bitcoin’s price surged by over 300% in the same period. However, after reaching its peak in June 2024, the retail investor count plateaued, and Bitcoin’s price also struggled to reach new highs thereafter.
Conclusion
The rise in the number of retail investors remains a crucial catalyst for Bitcoin bulls. If this trend sees a strong resurgence, with retail investor interest growing substantially once again, Bitcoin's price could be poised to test new highs. Just as in the past, retail interest could provide the needed tailwind for Bitcoin; hence, renewed growth in the retail investor base may offer a vital opportunity for the next bull rally.
Thanks for reading.
Onchain
Ethereum Whales Accumulate $ETH in Anticipation of ETF LaunchWallets holding at least 0.1% of the total supply have shown a consistently positive net flow over the past month, with a notable surge as Ethereum bounced back from its recent lows below $3k. This trend suggests accumulation in anticipation of the upcoming Ethereum ETF release, which is expected to occur around July 23rd.
Our outlook for the coming week is predominantly bullish. However, whether the ETF release becomes a 'sell the news' event hinges on the level of institutional demand for CRYPTOCAP:ETH
Bitcoin MVRV AnalysisHello friends,
Thanks to the collaboration between TradingView and IntoTheBlock, you can access this data for free on TradingView with the code "BTC_MVRV."
Today, we will dive deep into MVRV, the primary data I use for trend tracking in Bitcoin.
What is MVRV?
MVRV is calculated by comparing two main metrics: market value and realized value.
Market value is determined by multiplying the current market price of a cryptocurrency by its circulating supply. On the other hand, realized value considers the total value of all coins based on their last transaction prices.
The Market Value to Realized Value Ratio (MVRV) allows us to understand the profitability of Bitcoin investors and cyclically track trends.
Bull vs. Bear
If the Bitcoin MVRV ratio is above 1, it indicates that investors are in profit, while if it is below 1 investors are at a loss.
Generally, investors pay attention to the following two levels when examining MVRV. If the MVRV is below 1 the Bitcoin price is cold as the polar north, and if the MVRV is at or above 3.7, the Bitcoin price is hot as Sahara desert.
However, to add a different perspective and to detail trend tracking, I included the 52-week simple moving average. As you can see on the chart, it has become much easier to follow bear and bull trends. We can say that if the MVRV score is above the 52-week average, the bulls are strong; if it is below, the bears are strong.
Conclusion
Currently, the MVRV is at 2.03 points, while its 52-week average is at 1.88 points.
This situation shows us that we are still in a bull trend. As a bonus, when we examine the MVRV historically, we can observe that 2.00 points is an important level. We have witnessed that the momentum in bull trends increases if the MVRV can stay above 2.00 points.
Let's see what we will witness in the current bull trend.
Thank you for reading.
Bitcoin On-Chain: Is The Cycle Over Already?In this analysis I want to discuss a (most likely) unpopular view on the market. Namely, that the "cycle" is already over and that the peak is in for now.
Preface
This is not my most likely outcome for the markets. You can find my most likely outcome below:
Still, it's always advised to keep an open mind and explore different potential outcomes.
Overview
When we look at the last 7-8 years of Bitcoin's newly created addresses we can see that this value follows a clear boom-and-bust pattern. It peaks (green) during mania when everyone wants to step into the market and it declines after the market has topped (red).
For the people who are wondering about the November 2021 peak: on-chain data peaked in Q1-2021.
What this chart suggests is that the "mania" phase of the market cycle is over and that the top is either in or very close. Once the mania phase is over, crazy gains are more rare and trading is more difficult.
I'm interested to hear your thoughts on this idea. Like I said, it's not my most likely outcome, but it's possible that we've topped after the ETF mania.
AEROUSDTWhen getting ready for the Onchain summer festival, it is worth taking a look at the main AERO coin from the basechain cat.dex, the event sponsored by coinbase starts in June and will last until August. AERO freshness plus a small market cap and practical use. Targets on pp.
🔥 Bitcoin On-Chain: Completely Normal Correction!In this analysis we talk more about yesterday's analysis where I discussed the completely normal correction that BTC has been seeing. Furthermore, chances are that we will see more of those correction in the coming months.
As seen on the chart, Bitcoin sees multiple deep corrections (>20%) during bull-cycles. Sometimes they are less excessive, but >20% is generally the bottom.
Currently, BTC is trading around 11% from the ATH. It's not great, but looking at previous bull-cycles it can certainly get much worse.
For now, there's not a real reason for the bulls to worry. Yes, BTC is not really doing great at the moment, but did we really expect a move from 40k > 100k without any corrections?
Patience will reward you.
🔥 Bitcoin On-chain: You're Still EARLY This Cycle 🚨In this analysis I want to dive deeper into on-chain analytics, namely the amount of the BTC supply that has not moved in over 1-year (read: investors that hold BTC for >1 year).
This metric is important because it gauges the amount of hodlers in the market. Historically, the amount of hodlers always goes up during bear-markets and goes down during bull-markets.
Take a look at the previous three cycles. Hodlers only really started selling after BTC has made a new all-time high.
Seeing that the white line has only just started going down, we can safely assume that we're still early into the real bull-market and that we likely have another 6-12 months of bull period (historically) ahead of us.
Don't worry if you missed the boat on your favorite altcoin, you're still early.
Ether's Ascending Support Line at Critical PointJust like in BTC and everywhere else in the crypto markets, the trading volumes on ETH are also very low.
However, the main difference from BTC is that Ether's supply is now deflationary. Since the merge of the new consensus mechanism; Ether's circulating supply has been going down. (The first year in deflation).
And alongside this data, on-chain metrics show that ETH's total addresses with balance are at all time high levels >97.5m; total staked ETH are above 26m and that is a 20% increase over the last 90 days; with 127k depositors (stakers) over 17.7% increase in the 90 days.
The chart also looks promising with an ascending support line, however, it is at a very critical zone now. If it breaks down from here; we may see test of the previous resistance trend which I highlighted with dotted red line. Right now, we are testing the
But, due to the bullish fundamentals and on-chain metrics of ETH, I am expecting a bounce from here. Also, please keep in mind, I am a bit biased as I am a believer in Ether becoming the smart ledger of the world's assets.
Please do your own research,
Good luck!
Could this be BTC bear trap?Looks like a breakdown of a falling wedge pattern in BTC chart. However, the on-chain metrics tell us a very different story in terms of Bitcoin's current state.
According to on-chain data, as of last week, there are 47.87m addresses with a balance in Bitcoin network. This obviously excludes user balances on centralised exchanges. It is constantly increasing and is showing a very steady growth over the years.
Also the mining difficulty is increasing along with the hash rate, floting in all time high zones still:
30-Day High 446.96m TH/s as of Aug 15 2023.
In the last 90 days, miner outflows have reduced by -40%
Obviously, we can't purely rely on this data and therefore we look at chart patterns and technical chart indicators; and on that front, things are not looking very bright.
There is weak support levels on the price, volumes are down, RSI is not looking good and there is very low volatility.
We can only expect lower price levels with such charting; but it could all change with positive news from ETF decision. Lets wait and see if this becomes a bear trap or a lower low in the coming weeks.
Why BTC Remains Profitable: SOPR > 1, but Caution is AdvisedGiven the current stability of BTC prices, I wanted to shed some light on an important metric that indicates Bitcoin's profitability and discuss the significance of HODLing for the long term.
As many of you know, the SOPR (Spent Output Profit Ratio) is a widely recognized on-chain indicator used to determine the profitability of Bitcoin transactions. When the SOPR is greater than 1, it suggests that the average investor is selling their BTC at a profit. This metric has proven to be a reliable tool for assessing market sentiment and predicting potential price movements.
Recent data indicates that the SOPR for Bitcoin has consistently remained above 1, indicating that investors are making profits from their BTC holdings. This finding serves as a testament to the resilience and profitability of Bitcoin as a long-term investment. However, it is crucial to approach this information with a cautious mindset.
While the SOPR > 1 is undoubtedly a positive sign, it is essential to consider the broader context of the market. The stability of the BTC price plays a pivotal role in ensuring the sustained profitability of Bitcoin investments. Therefore, I urge you to exercise prudence and carefully monitor the market conditions before making investment decisions.
In light of this, I strongly encourage you to consider the long-term HODLing strategy for your BTC holdings as long as the price remains stable. The inherent volatility of the cryptocurrency market often tempts traders to capitalize on short-term gains. However, we can reap substantial future rewards by embracing a patient and strategic approach.
By maintaining a long-term perspective, we can navigate through market fluctuations and capitalize on the potential growth of Bitcoin. Remember, the true power of BTC lies in its ability to act as a store of value and a hedge against traditional financial systems.
In conclusion, while the SOPR > 1 indicates the profitability of Bitcoin transactions, it is crucial to exercise caution and consider the stability of BTC prices. Embracing a long-term HODLing strategy and diligent market analysis can help us make informed decisions and maximize our returns.
Let us move forward with a sense of responsibility and awareness, ensuring that we make the most of the cryptocurrency market's opportunities. Together, we can navigate these uncertain times and emerge as successful traders and investors.
As a fellow trader, I encourage you to adopt a long-term BTC HODLing strategy, provided the price remains stable. Let's stay vigilant, monitor market conditions, and make informed decisions to secure our financial future.
$BTCUSD SOPR, BFX Longs and Shorts, Greed, Liquidations.
This is one of the multi-chart evolving dashboards I use daily for crypto trading. This dashboard attempts to distill a broad scope of data and sentiment into glance value charts. The goal with such dashboards is to seek to stack probabilities to be on the right side of the percentages in every trade.
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The top panel chart shows the SOPR (Spent Output Profit Ratio, (grey line, using the symbol $BTC_SOPR) overlay vs $BTCUSDT (Binance, in blue). The SOPR is a very simple indicator. It is the spent outputs expressed as a ratio and shown as an oscillator on the chart. The Bitcoin SOPR is the realised dollar value divided by the dollar value at creation of the output. Or simply: price sold divided by price paid.
SOPR showing under value 1 means that the on chain data has recorded a net realised loss for "spent" Bitcoin. SOPR showing over value 1 means net profit. Renato Shirakashi appears to be the inventor of SOPR for BTC, and he writes about SOPR: "In this analysis two important psychological turning points that significantly change the supply of bitcoin are going to be described by introducing a new oscillating indicator that signals when these major supply changes occur, using blockchain data." I interpret this reference to the psychology of "weak hands" getting flushed out of the market by selling at a loss as shown when SOPR sits below 1 for extended periods of time (bear), and when all the weak hands have left the market, we find a bottom.
Because I am an impatient learner, I needed further examples to understand fully. If someone sells you 1 Bitcoin at $50,000USD, that transaction is recorded on the blockchain. If you then sell it for $25,000USD, that is now a spent output which is obviously a negative 0.5 ratio, and would contribute to a SOPR lower than the value 1. Interestingly the SOPR tends to be very close to the value 1 nearly always. Which means that the aggregated data of all spent outputs is nowhere near as extreme as the example I gave (although I'm sure there are plenty of retail traders who bought the high and sold the bottom at a 50% loss).
If we rewind to extended periods of low points in the SOPR ratio, extended negative ratio periods coincide with low points. In the past 5 years the lowest ratio was around 0.88, which was December 2018, when the price of Bitcoin was heading lower than $4k USD. That particularly brutal bear market lasted 18 months and you can see that the SOPR was below value 1 for nearly the entire time, indicating that there was a long tail of weak hands realising losses the entire time.
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Also present on the top chart is a brilliant little free indicator called Liq.Levels , wtf is all I can say, this a masterpiece of long/short liquidation data based on market maker behaviour in this case Binance's perpetual BTC/USDT leveraged futures (one of the most active retail leverage platforms). On this layout I have hidden all but the 25x liquidation points both short and long as it captures the widest spread and for the simplest visual as this is a glance-dashboard, on a single panel layout you can view the 50x and 100x which are tighter spreads. Liq.Levels also filters for a minimum of one million USD, so this is real value the market makers are getting out of bed for, essentially these levels are where the market maker really wants to push the price to. If you're new to leverage (don't do it! just buy at spot!), the reason they do this is to hunt the longs and the shorts and cause maximum liquidations (are you still trading with leverage?!).
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The second panel is the famous Bitfinex Longs (green) and Shorts (red) . You can see currently the longs, since around the $39000 level went parabolic. The shorts are just tiny in comparison. The data from Bitfinex seems less erratic than those from other exchanges, so if you find looking at longs and shorts ratios useful, I'd suggest also looking at other websites to see the other major exchange long and short activity, liquidations, and ratios.
This info is used to monitor large moves by leveraged traders. While Bitfinex is not the best measure here (ideally you would want all major exchanges aggregated longs vs shorts, but I have not found such indicators on TV, only Bitfinex), you can check the data by comparing it to another exchange, for example Binance you can see that parabolic move the Longs made from the 11th of July to around the 14th of July (while the BTC price fell off a cliff from $30k to $20k), where the ratio of Longs vs Shorts on Binance also skewed heavily to the Long side.
This is another way to stack a probability. As the Longs level off and get flushed out (usually by mass liquidation!), this is another variable to find support or resistance. For example you can see the levelling off around 12 May 2022, Bitcoin's price found a short term bottom at $29k. Similarly and most recently you can see as the Longs levelled off from a hectic run up in the mid June 2022 selloff, the price found a short term bottom around $20k. You could say that recently or commonly this is a contrarian indicator, assuming that smart money is seeking to liquidate the maximum possible leveraged positions, so we can assume that generally these leveraged retail traders will largely make incorrect bets most of the time, hence historically as soon as Shorts leave the market, the price spikes up, and vice versa. So, another thing to watch.
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Next we have a Crypto Fear & Greed Index , which as you can see nearly always oscillates in a tight rhythm with Bitcoin's price action. Above 75 (green dotted line) is extreme greed, below 25 (red dotted line) extreme fear. There are quite a few websites that attempt to measure crypto Fear & Greed, and even a variety of different indicators on TradingView, but this was the clearest visually I could find here. The inputs on this version according to the coder are stable coin flows (flight to safety), coin momentum (top 18 coin price relative to 30 day averages), and top 18 coin price high over the previous 90 days. So, it's interesting that despite this being at face value a rather complicated set of data with many inputs, that it just looks like a carbon copy of the Bitcoin chart. Bitcoin has a gravity that is inescapable for all things crypto right now.
The difference between looking at this indicator and simply looking at Bitcoin's chart is that it flattens out the action and has a set floor and a ceiling. You can see historically that the best buy times were when fear was at its "height" (where the yellow line is at its lowest). Another way to stack probabilities. At time of writing, is this a great time to buy? Fear appears to be leaving the market, we haven't had a commensurate price move up, so I'd be cautious. Like all these indicators, you can just overlay Bitcoin's price line and backtest the correlation in a few seconds. Buying when fear is at a maximum is usually easier said than done, though!
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Lastly we have Liquidations by Volume , as per the coder this "shows actual liquidations on a per-candle basis by using the difference in volume between spot and futures markets." Blue line is futures volumes, yellow are spot volumes. The code for this indicator shows that it is the same BTCUSDT Perpetual Future's contract from Binance that we have in the Liq.Levels indicator, perfect.
Worth noting is that the community of coders at TradingView is a trader's dream. These sorts of customisable dashboards you can build are high value. Having worked for the largest international institutions I find many of these indicators are institutional grade and they have just a few hundred users sometimes, pretty crazy how early in the adoption curve we are with this. If you haven't experienced the "other side" of trading, compared to regular equities forex futures etc the TradingView tools and the crypto data and exchanges are just lightyears ahead.
Back to why look at liquidations? As institutions come into the market, and retail wallets on exchanges like Binance and many others continue to use leverage, the action in the derivative (in this case $BTCUSDTPERP) can and often does drive the price of the underlying. Market makers hunt the maximum liquidations, always. The market context is highly relevant here. During volatile periods it is a swinging contrarian indicator. If there has been massive green bars showing short liquidations pushing the price up, then we could be forming/hitting resistance levels and can see reversal/selloffs, and vice versa if there are massive red bars showing long liquidations pushing the price down, this can be hammering out support levels and we look to bounce. The longs and the shorts really do seem to be taking turns getting liquidated right now.
Also of relevance is the price action relative to the liquidations. Obviously if an institutional candle pushes the price up or down, there will be mass liquidations. But another scenario that occurs is when are light volumes on the derivatives such as $BTCUSDTPERP we have under the microscope here, but we have large Bitcoin price movements, then the reasons for the move can be understood differently, and we can use this and other contexts to draw conclusions such as for example a scenario where price goes up with light liquidations and derivative action, which could be interpreted as much stronger hands holding coins rather than simply margin calls.
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Good luck!
Bitcoin Supply ZoneHello traders
As you know bitcoin started to turn bullish weeks ago, market greed has increased, and dominance is above 42%.
On a day to day charts and the short term, Bitcoin hit a supply zone that is pretty strong in every timeframe.
I see a rejection from that zone, and I think this rejection might create a bearish momentum for the short term; in other word, I will call it a correction for a bullish trend.
I screenshotted a metric from Glassnode called realized Profit/loss Ratio, which shows that most of the network wallets are currently in profit. This is a risk for a price.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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Correction of BitcoinHello Traders
As you can see in the chart above, Bitcoin is currently in a resistance zone which can cause capitulation.
I Screenshotted a metric from Glassnode called addresses with a supply of more than 1K, Which decreased drastically in the previous bitcoin bullish movement; this alone can confirm the technical scenario.
On the network data side, I saw most of the bitcoins that moved in the last day were mostly in profits—another risk to the price.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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Correction and pullback For BITCOIN!!Hello Traders,
As you know, Bitcoin has rallied in the past few days, but it did not get corrected ever since.
Technically on the Logartmic chart, bitcoin has broken out of its bearish trendline. I expect the price to test its previous levels to get more liquidity to continue its bullish movement.
On the Onchain side, Long term holders moved their bitcoin in more than nine times in profit, which is a severe risk to the price. On the other metric I screenshotted from Glassnode, you can see that at the top of the price (today), Wallets moved their bitcoin in profit with a value of more than 60 million dollars. These two scenarios can confirm that a correction or a pullback is coming for the price.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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INFLATION RATE AND BTC MOONHello Traders
As you know, the inflation rate decreased to 6% in the past day, this news created a significant bullish movement for Bitcoin Price, but don't get FOMO, Yet. As you can see Bitcoin's overall Technical shows that, the price is still in a bearish phase in the bigger picture, and is currently on an excellent resistance level, both Dynamic and static.
On the Onchan side, I screenshotted a metric called Net realized Profit/Loss, Net Realized Profit/Loss is the net profit or loss of all moved coins, the value shows that the whole network was moving their bitcoins in profits today, which can cause a reversal in the bullish trend.
Overall I can see a Correction or consolidation for bitcoin before the bullish phase.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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Risk in the marketHello Traders
Bitcoin moved yesterday as we predicted with on-chain data; you can see it in the previous idea.
I screenshotted a metric today called ASOL from Galssnode; Average Spent Output Lifespan (ASOL) is the average age (in days) of spent transaction outputs. This measured value has spiked today, which means that there will be a possible risk to the price.
On the technical side, the price is still in a supply zone, so I believe the price can consolidate today and even maybe have a correction.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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Correction and Pullback of BITCOINHello Traders
As you can see in the chart above price has broken the higher levels, and now it needs a correction to continue its movement.
On the Onchain side, I screenshotted a metric from Glassnode called Long term holders SOPR; the Spent Output Profit Ratio (SOPR) is computed by dividing the realized value (in USD) divided by the value at creation (USD) of a spent output. Or: price sold / price paid and LTH SOPR only calculate it with wallets older than 155 days which are long-term holders. The value in the chart shows that long-term holders are spending their bitcoins in 5x Profit since they bought; this alone can create a risk to the price since they are long-term holders who sold their bitcoins.
Price can see a slightly higher level and start to correct itself, and the correction might continue if the holders keep selling their bitcoins.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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High BITCOIN network activity (Correction)Hello Traders
As you can see in the chart above price had a bullish momentum; in the past week, Dollar Index had a death cross and decreased, which can sustain this bullish movement of bitcoin.
On the Onchain side, I screenshotted a metric from Glassnode called Net realized Profit/Loss, which is the net profit or loss of all moved coins. The metric value has decreased drastically, indicating a bullish price move. Massive on-chain activities showed that old wallet had also moved their bitcoins in a loss. Indeed, there is a risk of volatility for the price, but I can see a correction before the continuation of the price, and I believe price can see higher prices.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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You may want to double check your position on BTCUSDThello
you know everybody can analyze the market when Onchain is good, but we update every day to find a better picture of what you are doing.
Despite the increase in selling at a loss due to traders' fear of the current conditions, we see distributions in profits that this activity can be considered likely from older coins.
By checking the CDD index (number of coins * duration of storage) and ASOL (average lifetime of a coin), we will find the partial distribution of old coins with the age band of 7-10 years, and 3-5 years.
Currently, the 16,400 range is still of great importance because approximately 11% of the circulating stock is in this area. Despite this, the accumulation process in the network has been reduced.
Despite the low level of selling pressure, we see the distribution of losses, which if this continues and the market conditions are negative, the risk scenario for the price will be strengthened.
Consolidation and Correction of Christmas Hello Traders
Merry Christmas.
As you know, each year that we get close to holidays and the new year, Bitcoin volume and open Intrest drop; in conclusion, we will see less volatility in the price, and I believe that's why we had this much consolidation on the current price zone. The price might continue the consolidation.
On the Onchain side, it's visible that there is a significant movement in wallets; they are moving their bitcoins, some in profit and some in loss; this alone indicates that the price is more likely to see lower levels in this time period than upper levels.
I screenshotted a metric called CDD from Glassnode, which shows what I mentioned. Coin Days Destroyed (CDD) for any given transaction is calculated by taking the number of coins in a transaction and multiplying it by the number of days it has been since those coins were last spent.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
Enjoy the holidays, and Again, Merry Christmas.
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Bitcoin intraday Continuation Hello traders
As you can see in the chart above, bitcoin corrected its bullish trend a consolidated for a while in this price zone; this can make the continuation lot more effortless. On the Onchain side, I screenshotted a metric from Glassnode called Supply held by addresses with 100 to 1K bitcoins wallets. The value has risen in the previous hours, indicating that we might see a bullish momentum in the upcoming hours.
Check out my previous predictions on bitcoin below.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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Correction before continuation on Bitcoin Hello traders
As you can see in the chart, we predicted the market move in the previous post, I see there is a FOMO on the buying side, but some of the old wallets are selling their bitcoins. I Screenshotted a metric from Glassnode called supply held by address with 100 to 1k Bitcoins. This metric has decreased today, which means the price can see lower levels which I highlighted, and after that, it can continue the bullish trend to create that overall pullback.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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Intraday Price Movement & OnchainHello Traders
In the past few years, the volume of bitcoin has decreased each time Christmas and New Year are close. This can also be seen in the candles; we might see less volatility in the price.
So let's dive into today's analysis; as shown in the chart above price is consolidating after the bearish momentum.
On the On-chain side, I screenshotted two metrics from Glassnode to show you how crazy today's On-chain activities are.
Coin Days Destroyed (CDD) for any given transaction is calculated by taking the number of coins in a transaction and multiplying it by the number of days since wallets last spent those coins. So there was a spike in CDD, showing us that there's a risk in the market. On the other hand, the realized loss shows that so much bitcoin was transferred in loss, meaning the price can see a bullish movement today.
I still stick with the previous analysis I shared.
For today I see bullish consolidation or a bullish breakout, and for upcoming days I see a pullback that I mentioned in the previous post.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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