#BTC Weekly candle closed somewhere in between and of the me | ENSIGN TRADING on Binance Square

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#BTC Weekly candle closed somewhere in between and of the medium bullish one and a rejection too. #Bitcoin on hourly TF, looks like holding the support/flip area over the zone and move correctively. We can experience a dip again due to this nature.
#BTC☀ 

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#LDO sitting on the supporting trendline and getting strongly rejected. Price formed a Bull Flag pattern, which is a bullish continuation pattern. Eye on breakout with a retest to go. #LDO/USDT📈

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Short ⚡️⚡️ #10000SATS/USDT ⚡️⚡️ Leverage: Cross (50х) Entry Targets: 0.001696 Take-Profit Targets: 1) 0.00167 2) 0.00165 3) 0.00164 4) 0.00161 5) 0.00159 6) 0.00157 7) 🚀🚀🚀 Stop Targets: 5-10% ⚡️⚡️ #1000BONK/USDT ⚡️⚡️ Leverage: Cross (50х) Entry Targets: 0.020219 Take-Profit Targets: 1) 0.01992 2) 0.01971 3) 0.01951 4) 0.01921 5) 0.01901 6) 0.01870 7) 🚀🚀🚀 Stop Targets: 5-10%

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#BITCOIN DAILY TF UPDATE : #BITCOIN on Daily TF, didn't gave any market structure shift and proceeding lower. Price kept on retracing and making lower lows with time, Nothing much clear at the moment as not sign of bullishness. By next week, we can see a strong movement in the range. #BTC☀

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Derivatives metrics group: 1️⃣ Futures Perpetual Funding Rate This mechanism ensures that the price of a futures contract remains close to the price of the underlying asset. Traders either pay or receive funding to/from the opposite side to keep the contract price aligned with the index price. Positive Funding Rate: Indicates more long positions; traders are generally optimistic. Negative Funding Rate: Indicates more short positions; traders are generally pessimistic. Current situation: On March 31, 2024, the Perpetual Funding Rate (90d) reached its highest value within the current upward trend for Bitcoin. From April 1 to May 10, 2024, the metric showed continuous decline, indicating a local decrease in the number of long positions. Globally, the metric remains above "0", suggesting a positive funding rate and more long positions compared to short ones. The Futures Perpetual Funding Rate has stayed positive for over 430 consecutive days, showing that participants have grown accustomed to BTC's growth. The excitement peaked in late March with record high funding rates within the upward trend, but has since started to decline. Although participants continue to open long positions, the intensity has reduced compared to a month ago. Overall, the number of long positions remains high, reflecting very bullish and optimistic sentiments. Rating: 5/10 in favor of buyers. The Derivatives metrics group highlights a significant trend in the Futures Perpetual Funding Rate, which reached a peak on March 31, 2024, before continuously declining from April 1 to May 10, 2024. This indicates a local decrease in the number of long positions, but the metric remains positive overall, suggesting more long positions than short ones and a generally bullish sentiment among traders. The positive funding rate for over 430 days indicates sustained optimism towards Bitcoin's growth. Although the intensity of opening long positions has decreased, the overall number of open long positions is still high, reflecting a very optimistic market sentiment.

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