Friends, Binance is playing with the market like a cat and mouse.
In the picture below you can see the BTC sales of the exchanges.
Binance itself creates volatility by constantly pulling up with Futures and continues to sell from above. None of the increases that come with futures are permanent. Take care of yourself.
Mtgox transfers started arriving today. For this reason, we can see panic sales. ₿42,587 was transferred between his own wallets, ₿5,110 was sent to an exchange for distribution.
Very profitable bitcoins started to enter spot exchanges again.
Remember that we are in a very strong resistance zone! If you have full faith that it will rise, do not forget to place a stop on your trades. If $BTC continues to enter the stock markets, selling pressure will grow.
BTC price is currently in the resistance zone and up to 63k. Profitable bitcoins started to be transferred between wallets again. There is no entry into the stock exchanges above normal yet, but the entry into the stock exchanges increases the selling pressure. That's why I wanted to remind you that we are in the resistance zone.
Bitcoin will reopen on the CME exchange on Friday at 57805 at 01:00. If the price opens here, there will be a serious gap in CME.
Spot support for BTC has been cut. Binance spot support came from 58k, but all purchased was sold. Currently, they only support the price increase by longing from the futures side. If Binance matches the price with the futures side, this is generally not a good sign.
Unfortunately, this expectation was dashed. There is no turn signal yet.
LIVE
OnrGlsn
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Good morning ☀️
BTC Update
The 63300 threshold could not be broken. There is a high probability that we will be stuck with a lack of volume over the weekend. There were a lot of stablecoin inflows to derivative exchanges yesterday. This means that it can be used both long and short. However, if we consider that we are close to the Range Low on the chart, the local bottom may come first and then a movement up to 67200 may be seen. Or I think 67200 directly before the local bottom comes. The price may go even higher. Can also try 70k's, I think 67200 is the min. target. But after this move, I expect a sharp 52-54k downward move.
I will take my long transaction on the ETH side. I think it will push 3800, maybe we can even see 4400.
There are some people here who think that when they fall, they will fall forever, and when they rise, they think they will rise forever.
I think it will fall when it was at the top of 72k, there is decline data and I wrote it in the range high region. There were people who argued that it would never fall full of insults. Someone pointed to ma99 and said, look, it's even tracking this.
Now there is a slight sign of an increase, I say it may bounce to the 67-70 range and decline again from there. Both those who do not understand what they read and those who claim that it will fall forever are insulting.
Friends, what do you want? Everyone shares their own opinion, you either like it or you don't. If you don't like this analysis, take the opposite action, who is holding you back? What is your grudge? Nobody is sworn to make you money. If you want to do this job, bend your knees, sit and work. If you are wrong, make mistakes yourself.
The 63300 threshold could not be broken. There is a high probability that we will be stuck with a lack of volume over the weekend. There were a lot of stablecoin inflows to derivative exchanges yesterday. This means that it can be used both long and short. However, if we consider that we are close to the Range Low on the chart, the local bottom may come first and then a movement up to 67200 may be seen. Or I think 67200 directly before the local bottom comes. The price may go even higher. Can also try 70k's, I think 67200 is the min. target. But after this move, I expect a sharp 52-54k downward move.
I will take my long transaction on the ETH side. I think it will push 3800, maybe we can even see 4400.
I closed all my short positions when BTC was at the top of 72k.
I'm not thinking of long transactions yet. I will wait for the market structure to mature. I will consider opening a long trade with the confirmations. If a new structure is created, I will definitely share it with you here.
Those who have traded with me so far may consider closing their positions gradually.
I wish everyone good luck.
LIVE
OnrGlsn
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$BTC Update
If we close the day like this, the double top will be confirmed. It is possible that we will experience a decrease to the 62500-60500 box I showed in the chart.
Maybe they can push the price here until the Fed interest rate meeting to be held on June 12.
There are rumors that the Fed will decide to reduce interest rates at this meeting. If, as expected, the fed cuts interest rates and the price reaches here before the meeting, I think the Bitcoin price, which has already reached the "Range Low" region with the interest rate cut, will turn up sharply.
When that day comes, we go over the analysis again.
EWR data showing whale entries on the Onchain side has arrived. The data is quite high, generally after this data arrives, first a local bottom is formed, followed by an increase.
With this data, we can see an increase in BTC up to the 70500-70700 range. The 62500-60500 range that I showed in my previous post still continues. We can describe the upcoming rise as a correction of the decline.
If we close the day like this, the double top will be confirmed. It is possible that we will experience a decrease to the 62500-60500 box I showed in the chart.
Maybe they can push the price here until the Fed interest rate meeting to be held on June 12.
There are rumors that the Fed will decide to reduce interest rates at this meeting. If, as expected, the fed cuts interest rates and the price reaches here before the meeting, I think the Bitcoin price, which has already reached the "Range Low" region with the interest rate cut, will turn up sharply.
When that day comes, we go over the analysis again.