đšBitcoin up or down ? đš There are some factors that i would consider . Bitcoin dominance Usdt dominance Dollar index Spx Overall sentiments
Bitcoin dominance is not that important as what matters is the overall market cap. Currenctly the usdt dominance is very close to the higher time frame support area. Which means if it moves up to touch the resistance there will be a blood bath. Dolar index is at highs if it drops we will see crypto market rising . Spx is also rising
Psychological point : Market at top , there would be alot of people selling at the highs again And the buyers are super greedy now. Technical stuff : Btc create a new high at 74k areas and was rejected Which means a newly made resistance for the bitcoin. I think it will touch the highs again and then we will see if it goes side ways or creates a top wick and come back down. Right now bitcoin holding 60k areas which is a good sign but considering the other factors that i mentioned on top this is not a good time to trade with over leverage, secondly not a good time to hold coins in spot thinking of a start of bulll market .
Yesterday , market crashed. Today sideways. Unemployment data negative. Market close to all time high. Leaving liquidity to the downside. No retest of previous support areas. So i believe market will push down sooner or later to grab the liquidity and to retest the previous zones.
after the major news bitcoin price rose upto 64500 which is a psychological sell zone . looks still bearish candle and volume are against eachother i am looking to sell short whats your thoughts ? #BTCđ„đ„đ„đ„đ„ #BTCâïž
#BTC/Update: liquidity above 38400 has been taken out in the wick triple top pattern is formed with upside liquide liquidity grabbed . liquidity below 24500 is still intact . if market wanna move for a retest 30k is highly likely and liquidity below 25500 is still intact . Obviously market has no clear direction right now for a swing trade but day trades are good to go 1: follow the rules 2: follow your system 3: use stoploss 4 : good to go
1: over leverage your trades 2: not performing proper technical analysis 3: trading opposite to the trend 4: not using stop loss . 5: follow for more ! â
#BTC not able to close above 38400 a very clear resistance zone . i do believe market needs to touch 40-42k as thats a bearish order block secondly a very strong resistance zone . now if it really needs to go above 40 and touch 50 it needs to hold above 40 liquidity below 37500 is already taken out and above 38400 is still intact . lets see what happens , i am totally neutral right now and waiting for a clear move