#Bitcoin mid-term prediction
Trend is still re-setting from
14K pump.
I'm using recent price action > old price action - therefore $6xxx levels are mostly ignored. CME price inefficiency in these levels adds confluence to this view.
$5100s is the definitive bottom for me.
Ton of confluence packed into one level:
- Double monthly VWAP
- Price inefficiency fill
- 200 wMA
Price dumped through $7350s trapping a lot of longs (liquidity). Now if price "were" to go back to this level I would 100% look to short. HARD.
Open interest (Bitmex) is still not showing anything bullish. Keeping stable and increasing.
What this means:
> Few shorts taking profit
> New blind longs opening
Funding is about to spike negative for the first time in a while - bulls should get some rest here shortly.
Keep updated by following me here and on Twitter: MacnBTC
Trend is still re-setting from
14K pump.I'm using recent price action > old price action - therefore $6xxx levels are mostly ignored. CME price inefficiency in these levels adds confluence to this view.
$5100s is the definitive bottom for me.
Ton of confluence packed into one level:
- Double monthly VWAP
- Price inefficiency fill
- 200 wMA
Price dumped through $7350s trapping a lot of longs (liquidity). Now if price "were" to go back to this level I would 100% look to short. HARD.
Open interest (Bitmex) is still not showing anything bullish. Keeping stable and increasing.
What this means:
> Few shorts taking profit
> New blind longs opening
Funding is about to spike negative for the first time in a while - bulls should get some rest here shortly.
Keep updated by following me here and on Twitter: MacnBTC
By MacNBTC ❄️🐺
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
By MacNBTC ❄️🐺
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.