The smart money usually uses supply/demand zones to take profit/buy respectively. The next supply zone is the $52,000 area. The smart money will likely unload some profits there. Until then, BTCUSD is bullish given the high number of shorts and bullish on-chain analytics.
The smart money usually uses supply/demand zones to take profit/buy respectively. The next supply zone is the $52,000 area. The smart money will likely unload some profits there. Until then, BTCUSD is bullish given the high number of shorts and bullish on-chain analytics.
You can see record number of traders have entered short on LUNAUSDT at $42 level. This will create massive short squeeze to next Fib extension target of $48.
If you analyse the short/long volume on Binance and Bybit (highest volume futures exchanges), there are too many shorts and they need to be liquidated by the market makers. The market makers will drive the price UP to approximately $53K before any significant corrections. Many shorts will be liquidated. Record short volume by inexperienced. Binance and Bybit traders.
Short term SFP target on BTCUSDT is $53k USD. Many shorts will be liquidated. Record short volume by inexperienced. Binance and Bybit traders.
There has been a rapid rise in longs on BTCUSDT. The market makers will likely eliminate high leveraged longs in this area by taking out 45.7k. It will then resume the uptrend. Low risk trade.
It's time for BQX #Voyager to go for a parabolic rise again, which it usually does after a long downtrend. Regression analysis targets the $30 level. Major news releases, US institutional money, and VLP fundamental thesis for sustaining this uptrend at least in the medium term.
AXS is at a very negative funding rate on Binance again. Looks like shorts are about to get absolutely rekt. Use a low leverage long (3x to 5x), take profit $68. Very high probability trade.
This is a low risk play to 52k. Use low-ish leverage between 3x to 10x. 0.618 retracement will very likely be hit in the next coming days just like what happened in the October 2019 pump.
Long BTC - will reach $37,000 within 1 week. Short squeeze incoming. Record number of bottom shorters = price will rise exponentially like in 2019 mini bull run.
Long ETH - will reach $2200 within 1 week. Short squeeze incoming. Record number of bottom shorters = price will rise exponentially like in 2019 mini bull run.
Traders are now net short according to futures exchange data. With all the FUD and Youtube videos calling for 20k Bitcoin, this is no surprise. The herd is usually wrong, so taking a contrarian approach will yield good results. This usually means we will see a short squeeze. Expect a big 10%+ move to 39k over the long weekend.
While everyone is suddenly bullish about a "breakout", longs have increased again, outnumbering shorts 6:1 across all exchanges. Shorting this area is the unpopular but best strategy as we are in a strong downtrend.
The market is still highly leveraged at the moment. Many people caught the recent bottom at 30k. The market makers don't want that. They will likely drive the market suddenly lower today (Sunday) or early Monday in order to complete reset the funding rate and long:short ratio.
The 0.618 retracement lies at 35k, also confirming Schiff Pitchfork analysis. Bitcoin will likely obey the Schiff Pitchfork rule of 2=2=2 retracement.
Bullish divergences and HTF structure confirms a break to 46.2k is imminent.After that, we expect a pullback to ~42k before heading higher. Using low leverage ~5x offers good risk:reward with appropriate position sizing.
Short term, BCH will likely retest the 0.618 retracement area before grinding higher. Long term fundamentals remain terrible and will be shorted to the ground. Japanese blockchain enthusiasts have abandoned BCH in favor of BTC, LTC and ETH. We will likely see BCH trade sub-$600 very soon. The broadening ascending wedge is also a bearish technical pattern.
ETH looking frothy on the higher timeframes. It will likely correct to the 0.382 Fib retracement level before targeting $4K+ region.