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Joined February 2021
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CryptoDailyTA retweeted
#ALTSEASON ENDED BEFORE I COULD CHANGE MY TWITTER BIO TO “INVESTOR.”
FUCKING UNBELIEVABLE.
CryptoDailyTA retweeted
Ten weeks later: Assuming this is still the #Bitcoin peak and it doesn't mirror the previous cycle, expect different chart patterns.
However, some patterns may repeat...
Assuming this is the #Bitcoin peak, and it doesn't mirror the previous cycle, expect different chart patterns.
However, some patterns may repeat:
- Price gets volatile at creates wicks at the peak
- Bearish divergence at the top
- Price retests the blue line
- Price retests the 5th target box
- Bullish divergence at the bottom
CryptoDailyTA retweeted
Updated crazy #Bitcoin Heiken Ashi weekly chart idea.
We are currently in the 7th week of a possible 52 week correction.
Assuming this is the #Bitcoin peak, and it doesn't mirror the previous cycle, expect different chart patterns.
However, some patterns may repeat:
- Price gets volatile at creates wicks at the peak
- Bearish divergence at the top
- Price retests the blue line
- Price retests the 5th target box
- Bullish divergence at the bottom
CryptoDailyTA retweeted
$BTC Is slowly seeing the Coinbase premium return and funding rates are turning negative.
Spot selling pressure is easing significantly compared to the 2 weeks prior.
You'll obviously still need to see actual bid to move price but this is a good start. Because the amount of sell pressure we saw previously, was pretty insane and no bid could withstand that.
Since the 10/10 flush, the funding rates across the board have cooled off slightly.
This was to be expected considering coins lost anywhere from 30% to 60% of their entire open interest (primarily longs).
But we've not really seen the funding rates go deep into the negative, indicating shorts are getting too excited for the market.
This is due to the massive amount of spot selling, primarily on $BTC, which has happened in the past few weeks.
Shorts can keep shorting as long as spot keeps selling. That way there won't be a massive inbalance between spot & futures prices which causes these funding rates to remain roughly steady where they are.
So while funding rates aren't a massive indication of what to expect, in the short term I would be closely watching for these to turn further into the negative. Once they do, you can assume that spot selling is slowing down a bit or shorts are getting a bit overexcited. At that point, some a proper relief bounce is more likely to happen.
CryptoDailyTA retweeted
$BTC After the $107K support and liquidity level, which was taken out. The ~$90K area was the primary liquidity area on the downside.
This area was also coupled with the yearly open, CME gap and the .618 Fibonacci retracement level from this move up. So overall a key zone to watch.
With that liquidity taken now, the bulls would need to try and push this higher for some relief. BTC has no business sitting at this area for a long time if this has any intention to go for some proper relief.
