Post
Ualifi Araújo
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Bullish$BTC
In just 24 hours we made two attempts to break the $90K (yellow range on the chart), but we are still being rejected in that region... I'm not surprised by the fact that we have difficulties there, but rather by the fact that we are seeing a rapid 5% fluctuation in Bitcoin.
One thing that also surprises me is that in a 5% fluctuation we had over $150M being liquidated. The worst part is that the same play is being used constantly and leveraged traders can't LOWER their leverage or enter the extremes of the chart, what madness.
As I mentioned earlier, it would be important for us to observe the IPC data, they played a fundamental role in the rise of prices, and obviously, they will serve for an OPTIMISTIC narrative regarding Powell's next steps... but the current price action is quite unstable.
With this failure to recover the $90K, the BULLS will need to show insane strength in the next 4 hours. If we do not make a daily close above $86.5K, then the BULLS will start to have problems.
The levels are incredibly easy, so keep things simple:
As long as we do not break the $90K and form some support above the 50/100 EMAs, the BEARS are at an advantage, and will continue to try to push the price down to $80K (gray range on the chart).
As we approach Christmas, we should see more movements driven by liquidity on the chart, an even bigger hunt for STOPS and liquidations should occur more frequently, since we will have
The Bank of Japan event is something the entire market is already expecting and very likely MOST of our Asian friends who would sell have already done so this week. So it shouldn't be the end of the world, don't take actions based on fear.
How can COINBASE be selling so much? 🤔
In just 24 hours we made two attempts to break the $90K (yellow range on the chart), but we are still being rejected in that region... I'm not surprised by the fact that we have difficulties there, but rather by the fact that we are seeing a rapid 5% fluctuation in Bitcoin.
One thing that also surprises me is that in a 5% fluctuation we had over $150M being liquidated. The worst part is that the same play is being used constantly and leveraged traders can't LOWER their leverage or enter the extremes of the chart, what madness.
As I mentioned earlier, it would be important for us to observe the IPC data, they played a fundamental role in the rise of prices, and obviously, they will serve for an OPTIMISTIC narrative regarding Powell's next steps... but the current price action is quite unstable.
With this failure to recover the $90K, the BULLS will need to show insane strength in the next 4 hours. If we do not make a daily close above $86.5K, then the BULLS will start to have problems.
The levels are incredibly easy, so keep things simple:
As long as we do not break the $90K and form some support above the 50/100 EMAs, the BEARS are at an advantage, and will continue to try to push the price down to $80K (gray range on the chart).
As we approach Christmas, we should see more movements driven by liquidity on the chart, an even bigger hunt for STOPS and liquidations should occur more frequently, since we will have
The Bank of Japan event is something the entire market is already expecting and very likely MOST of our Asian friends who would sell have already done so this week. So it shouldn't be the end of the world, don't take actions based on fear.
How can COINBASE be selling so much? 🤔
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