Index fund flows were positive yesterday. Today's dollar news was positive for gold and indices. Financing rates have decreased significantly. Open interest rates rose again.
Bitcoin holding is down today, and today's future liquidity for altcoins was greater than Bitcoin's future liquidity = traders are betting on currencies (TOTAL2).
At the same time, spot trading volumes are still continuing to decline sharply, which confirms the market’s continued reliance on future bets + index fund flows, in light of the reluctance of spot traders.
If this situation continues, Bitcoin’s rise will be short-lived, and we will return to testing the 65,000$ areas again.
Fast swing trades on altcoins are currently the best strategy.
🔹 Bitcoin 🔥 ◾️ Bitcoin, in short, is a transverse path and attempts to form a continuation triangle. ◾️ Daily closing above 73140, pushing Bitcoin to rise towards the indicated targets 👍 ◾️ Daily closing below 68,000, which may push Bitcoin to fall to the bottom of the triangle at 62,000-63,000. ◾️ Daily closing below 61,000, which may push Bitcoin to fall to 50,000-52,000. 👈 Conclusion,,, ◾️ The daily close above 73140 is good and continues to rise ◾️ The daily close below 61,000 is not good in the short term. ◾️ The movement between the sides of the triangle, up and down, is not important 👍 ◾️ For me, I prefer the continuation of the sideways trend inside the triangle without closing above 73 or below 61 until we reach the day the split occurred.
🔴Stop loss: 19.5, 3.7% Stop loss is conditional on close: 4H
Note: The condition of closing the same interval is that the first three goals are primary and the rest are secondary. Calculate your losses before your profits. We trust in God.
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It is the reward for miners that is reduced by half. Before they were rewarded with 6.5 bitcoins for each block mined, and after the halving, it becomes 3.25 bitcoins, which reduces the supply and its scarcity in the market. Naturally, greed becomes above 70%, meaning demand increases, which increases the possibility of the price of bitcoin rising to imaginary prices. This The event is every 4 years
So far, the situation is unstable and the movement is boring, with important resistance at $71,500
Of course, April is the date of the historic news about Bitcoin (Halving) and violent movements are expected
Conclusion: The best way to trade now is to watch and not rush until the current boring stage is finished, and we will find hundreds of opportunities. If you would like to trade now, work with a small portion of your capital. #bitcoin
Bitcoin is evading a (final) upward maneuver to the area shown (70-72 thousand) and may falsely exceed the peak within a day.
🟢 This bounce is a gift from the market to those entering, so that it gives another exit opportunity before Bitcoin has its say and tightens its grip on the market 👋
🟢 This view does not contradict the main analysis that is currently effective, but rather is consistent with it (I mentioned previously that any bounce is for an exit), and after this maneuver, God willing, the decline will be completed.
🟢 This rise is purely speculative for those who want to exploit it professionally and with caution. Do not be fooled by entering now for distant goals, we are in the summit area 🚨