#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. Both: 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. Both: MacnBTC
By MacNBTC ❄️🐺
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.
By MacNBTC ❄️🐺
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.