📈So, we saw a local upward movement and consolidation above the local resistance zone. At the moment there is an attempt to reach the next local resistance and it is possible that in the near future we will be able to reach it.
🗣We are looking forward to the start of the next work week. As for more serious upward movements, I would expect them if they consolidate above the extreme local resistance zone🕯
Bitcoin has PERFECTLY filled our buy orders at the $38,500 level and pumped from there.
Talking about the current situation, we have a 1D candle closure above the $41,300 level which is a good sign of bulls' strengths.
Overall, I still don't believe we will see price much lower than $37,000 in this cycle. Grayscale been selling thousands of Bitcoins and we still above AND higher than $40,000. What does it mean?
The buy pressure is insane. No one will give us a chance to buy $32,000 or lower
🗞️According to CoinGlass analytics, there is an assumption that if Bitcoin reaches $46,000, it could lead to a massive liquidation of short positions in the market.
💰The total amount of liquidations could be about $5 billion, which will significantly affect market dynamics.
🗣This often leads to even higher prices, as the liquidation of short positions increases demand for the asset.
🗞️ An official Xpayments page has been created on Twitter (X) - the crypto community is waiting for high-profile announcements with the integration of DOGE Dogecoin, BTC with the Lightning Network, etc.
🗣Something interesting is coming, I advise you to pay attention to DOGE (a pump is possible)
#BITCOIN on Weekly TF, flipped below the support and rejecting it as resistance now. Price also holding above the structural support area showing buyer confidence. Well, Its kinda closing to a Doji Candlestick, which is a indecisive candle pattern. But the key point is closing below $42,000, will be bearish for the market and easily turned down towards the $40,000 and below. Have a strong eye on the market.
There are several reasons why I decided to do this:
1. The price chart looks decent, there were a deviation below the crucial support level, but now the token back above it and consolidating there. Very bullish 12h - 1d chart ❗️
2. Secondly, there are rumors that there will be Airdrops of tokens (projects) that are working with #PYTH or using one in their work The Pyth Network is partnering with a bunch of working protocols and blockchains that are still UNLISTED, so chances of receiving good token airdrops are quite high!
More to say, there are no token unlocks to investors/KOLs/funds until May 2024 Overall climate for investing is quite positive. Holding some tokens on spot and some in staking. Waiting for the news to be confirmed Not a fast money, but must worth it ❗️
Marketcap still in a bullish market structure, in we'll see the top view. There are some minor breaks in below but still tend to be bullish. Well, price might again text the $750B Support zone before going up. We still have room for price to reach the Resistance area of $950B Mark. Attempting fresh trades would be not preferred.
Dominance looks better and better day by day! Firstly I expected this breakdown of the orange trend line to be just another fake one, but now....
It looks more like a сompression to the level 1 by Fibo. Bitcoin Dominance has >60% chances of breaking this resistance that will lead to the new wave of growth on Altcoins🚀
The chart below shows an oscillator for the percent change of futures open interest. This tool can be used to spot periods of rapid change in aggregate market leverage.
🔴 High values indicate OI has increased by +2 standard deviations. 🔵 Low values indicate OI has decreased by -2 standard deviations.
We can see that there was a significant deleveraging event on 3-January where almost $1.5B of OI was closed out in a single day. Conversely, OI increased significantly between 9 and 11 January as ETF speculation peaked, and prices approached $49K.
This was greeted by a weekend sell-off back down to $40k, with new owners of ETF shares introduced to Bitcoin's 24/7 trading environment.
🗣As I already told you, trading will take place in the trading range of $42,000 - $42,500. In general, the situation is more long. If the day closes above $42,500 then we are more likely to continue moving up📈