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WHAT IS HAPPENING TO BITCOIN? ⁉️
In bull markets, narratives are more important than ground realities.
▫️ US trading session has had the worst cumulative returns in the past month.
▫️ Now it has picked up when ETF flows are net negative, in the same time, CME OI has skyrocketed above average in the past few days.
🟩 Current Scenario:
▫️ Coinbase FUD caused a panic selling.
▫️ Spot bids filled on that candle and perps shorting.
▫️ If previous Range $69,700 is reclaimed we can easily continue the uptrend. Rejection would mean more consolidation.
🟩 What's the moral of the story?
1. You don't need to be a macroeconomic expert and understand ETF flows and mechanics to make money.
2. You don't need to understand what spot tape trade count or DOM is to make money.
If you bought the 4H 200EMA retest on $BTC then you would have bought the bottom on this correction and would be up $10,000 since then
🔷 In bull markets, simple tools and analysis work more easily.
📍 Small FUDs and then Up.
Tighten your seat Belts.
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