Bitcoin(BTC): Another Rejection At $45,000
Updated
With the new weekly opening, we see another week (the last one) closing below the strong resistance zone at 45K. Resistance is holding strong, and the new weekly is showing yet further weakness.
Sure, ETF news and rumours are putting some uncertainty into traders, but nevertheless, one thing is sure: wealthy people would benefit more from rejecting or postponing the ETF.
With that being said, we are still looking for BTC to go into the liquidity grab zones. We personally are still short.
Sure, ETF news and rumours are putting some uncertainty into traders, but nevertheless, one thing is sure: wealthy people would benefit more from rejecting or postponing the ETF.
With that being said, we are still looking for BTC to go into the liquidity grab zones. We personally are still short.
Note
Day 1Price is seen to be getting rejected while waiting on the upper side of the upward path. With price being stuck in-between the trend (blue line) and resistance (red zone), we see a high pressure forming, which as of now is not looking like the best one. With that being said, we are still seeing a nice correctional movement occurring here in the daily timeframe.
This week will be an interesting one for sure, with multiple economic news stories coming from the USA, which will manipulate the markets for sure. We are expecting to see some long squeezes this week!
Swallow Team
Note
Day2 The second day of the week started with some breakouts from 45K, which has been one struggle zone for many days already. Now that we have broken that zone and resulted in another big green candle (which lately has been common), we have entered into the "Extreme Greed" situation with the marekts!
Only based on that index can we assume that we will see a drop, but this is one good additional confirmation for us that we are going to see a nice potential downfall very soon!
Swallow Team
Note
Day3 Here we are touched nicely by that
48K zone that we have been telling you about and also which activated for us the third and last entry on our short position.We are now looking to see no more further growth here and more downward movement, for sure!
As we mentioned already, we see that fake news we had was like a small test run. People have seen an approval, yet markets dumped even before the confirmation of it being fake announcement. Traders are shorting and going by the rule of "Buy The Rumor, Sell The News."
Note
Day4 ETF is live, and billions of dollars have been going into the crypto trading markets!!
Although this is a huge milestone for Bitcoin, we are not so optimistic for bullish markets to start yet! - Yes, we now have big institutions that can buy in on Rypto, but would they buy in on such a high price?
With that being said, we are still seeing that downward possible movement to happen, which would go towards at least 34K zone (where majority of liquidity is currently at)
Currently, fighting over the
48K zone price is not seeing any strength to actually pursue that 48K zone as of now. Let's see...Greed and Fear Index: Extremely Greedy / 76
Note
Day 5Upon ETF life price of BTC has had an amazing drop where sellers(Bears) took over that
48K zone which led price back to as low as 
46K zone. Currently, we are going to see most likely a test of 45K zone, depending on where we are going to look for a potential breakdown!
As ETF is now live, nothing changes—we still trade, we still short this one.
So waiting for 45K zone and entering inside that tunnel we have there from here we want a steep downward movement to start! - Let's see
Note
Bitcoin rejected fully
48K and reclaimed 45K zone as well!! Our weeks-long game plan is working very perfectly, and the price is moving just as we have been predicting it to move.With that being said, we have had, so far, 7% market price movement since the entry zone and 14% market price movement since the
48K zone, which we have been monitoring for quite some time.With that being said, we also see that during Asian session, BTC stayed in the lower zones without any impulse to upper zones, which is good sign of further downward movement to come from here (maybe with small correction to upper zones)
As always, "buy the rumours, sell the news." - Ethereum ETF is next??
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