Still calling this a bull market? Think again! Data shows 9 | Ben Walther på Binance Square

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Still calling this a bull market?

Think again! Data shows 90% of crypto tokens are 10-40% below their long-term trend. The numbers don't lie. 🧨📉

#Marketsentimentstoday 

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That's Why I Trust In Data Instead Of Gut Feelings 💪 I was pretty excited after yesterday's rally. Who wasn't? Most tokens bounced perfectly and almost equalized the losses of the previous day. I expected a continuation of the bullish momentum today. However, I try not to follow my expectations/emotions and prefer relying on data. Therefore, I was pretty surprised when I saw more and more bearish signals flashing on the daily 4H and 1H charts. But what can I say? Data: 1️⃣ - Gut Feelings: 0️⃣ Once again, I am happy to rely on solid data instead of my feelings. Hope you caught some of the signals.

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Bitcoin got rejected at the EMA200 twice. It would be good to pump above before the weekly candle close. 6 hours to go. Regardless, it will be interesting to see how the market responds tomorrow when some volume kicks in. Although a close below the EMA200 is a bearish sign everything seems possible: A retest of the lower bull flag band and a pump to the top. $BTC

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A Revised View on Bitcoin's Chart Setup Following the recent significant correction and subsequent reversal, I have updated my Bitcoin chart analysis. Instead of focusing on the 59-60k range as a crucial level, I will now concentrate on two key aspects: 1️⃣ Bull Flag Pattern on 1D Chart: Bitcoin is clearly trading within a bull flag pattern on the daily chart. This has become even more apparent after the recent dip. I will be closely monitoring the upper and lower boundaries of this pattern. 2️⃣ Short-term EMA200 Significance: The EMA200 plays a critical role in the short term. Currently, Bitcoin is struggling to climb back above this crucial line. This is important because many trading strategies use the EMA200 to define overall trade direction (long or short). A price below the EMA200 typically triggers more short trades, indicating a downtrend. What's Next? ➡️ Reversal Confirmation: Bitcoin must confirm the reversal by closing above the EMA200. A weekly close below this level could indicate mid-term downward potential. ➡️ Bullish Breakout: A break above the EMA200 would be a strong bullish signal, potentially leading to a move toward the upper boundary of the bull flag. $BTC #Bitcoin❗

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Number of Worldwide Crypto Owners Reached 615 Million 🚀 Here's for everyone who loves data as much as I do. The latest Crypto Market Data of June 2024: CRYPTO MARKET IN JUNE 🔴 The overall crypto market price index fell by 9.3% compared to May 🔴 Crypto market volume fell by 20% compared to May 🟢 At the same time, the volatility index fell by 10.5% CRYPTO ADOPTION IN JUNE 🟢 The number of global crypto owners grew by 1% to reach 615 million. 🟢 ETH adoption saw over 3% growth, the highest year-to-date increase — most likely driven by the ETF approval. 🟢 Approximately 20 million people invested in spot Bitcoin ETFs. $BTC $ETH #ETFEthereum

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