2 things are certain right now: -Bitcoin is in an ascending channel -Bitcoin is in an uptrend on the daily chart, making slightly higher highs and higher lows.
The trendlines don't really matter that much here. What matters is that we're making higher lows on the daily chart.
As such, there is NO REASON to assume we won't make another higher low, except a 2022 fractal. The highest-probability outcome is a continuation within the ascending channel.
I'll remain bullish on Bitcoin until proven wrong. So far, the last two daily candles are indecision candles, letting bulls breathe a little.
US Bitcoin ETFs See Record $709 Million Outflows Yesterday, Contributing To $1.58 Billion In Total Outflows Over The Last 2 Trading Days: 17,330 $BTC Sold.
Breakdown: Yesterday Total Bitcoin Outflows: $709 Million ā BlackRock Sold 4,030 BTC ($356.5 Million) ā Fidelity Sold 3,250 BTC ($287.7 Million)
Yesterday Total Spot Crypto ETFs Outflows: $985.5 Million
As youāve seen the market rn is lacking volume, liquidity dried up ever since the nuke on Monday opening.
Itās not that market is down so itās bad, the actual pa and lack of vol is whatās bad. No reactions on key levels, no real move as off yet.
Today, Trump speaks which should bring volatility and finally some move to get the market going.
What to do now? Simply wait patiently for the market to provide us a real move first. If youāre already in a trade, move sl to entry or minimise risk.
I will give you guys an update on #BTC and $ETH once i see triggers.