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1/ SHORT TERM BEARISH CASE OF BTC
Even with strong fundamentals, undervalued S2F, month close approaching, there are some significant reasons to be bearish $BTC short term (next 7-10days). I believe we are in a bull run but there is more pain to come #BTC
https://abs.twimg.com/hashflags... draggable="false" alt=""> #Bitcoin https://abs.twimg.com/hashflags... draggable="false" alt=""> #2020Bullrun
Even with strong fundamentals, undervalued S2F, month close approaching, there are some significant reasons to be bearish $BTC short term (next 7-10days). I believe we are in a bull run but there is more pain to come #BTC
2/ Combined Futures Funding rate
If you take a look at the below chart, FR across many exchanges have started turned positive from neutral. This means majority are bullish and expect price to shoot from here.
This is a big reason to expect some more pain
#Funding #Analysis
If you take a look at the below chart, FR across many exchanges have started turned positive from neutral. This means majority are bullish and expect price to shoot from here.
This is a big reason to expect some more pain
#Funding #Analysis
3/ Network activity not supporting upside
If you look at mempool counts, it looks abysmal. Really low activity round here. If the bottom was in, this would not have been the case. I think price will correct more to get the network investor on-chain activity back to normal #BTChttps://abs.twimg.com/hashflags... draggable="false" alt="">
If you look at mempool counts, it looks abysmal. Really low activity round here. If the bottom was in, this would not have been the case. I think price will correct more to get the network investor on-chain activity back to normal #BTC
" title="3/ Network activity not supporting upsideIf you look at mempool counts, it looks abysmal. Really low activity round here. If the bottom was in, this would not have been the case. I think price will correct more to get the network investor on-chain activity back to normal #BTC https://abs.twimg.com/hashflags... draggable="false" alt="">" class="img-responsive" style="max-width:100%;"/>
4/ Gold
Gold still has not touched its HTF support levels after breaking down from a triangle consolidation. Since there is more downside to go for Gold, I think it will drag BTC along with it
#BTChttps://abs.twimg.com/hashflags... draggable="false" alt=""> #Bitcoin https://abs.twimg.com/hashflags... draggable="false" alt="">
Gold still has not touched its HTF support levels after breaking down from a triangle consolidation. Since there is more downside to go for Gold, I think it will drag BTC along with it
#BTC
#Bitcoin https://abs.twimg.com/hashflags... draggable="false" alt="">" title="4/ Gold Gold still has not touched its HTF support levels after breaking down from a triangle consolidation. Since there is more downside to go for Gold, I think it will drag BTC along with it #BTC https://abs.twimg.com/hashflags... draggable="false" alt=""> #Bitcoin https://abs.twimg.com/hashflags... draggable="false" alt="">" class="img-responsive" style="max-width:100%;"/>
5/ Put Options Open Interest for the expired 25th Sep positions
If you take a close look the the below chart of OI for the 25th Sep expiry (already expired), the OI at 9K$ strike was the maximum. While the institutions got the timing wrong, they certainly know what& #39;s going on.
If you take a close look the the below chart of OI for the 25th Sep expiry (already expired), the OI at 9K$ strike was the maximum. While the institutions got the timing wrong, they certainly know what& #39;s going on.
6/ Next support levels
This chart from my old update is still working accurately so Im gonna post the same.
The answer to the next signifcant levels is in the unspent whale BTC holding chart.
Next supports are 9.8K, 9.4K & finally 8.8K (biggest bubbles)
I feel 8.8K must hold!
This chart from my old update is still working accurately so Im gonna post the same.
The answer to the next signifcant levels is in the unspent whale BTC holding chart.
Next supports are 9.8K, 9.4K & finally 8.8K (biggest bubbles)
I feel 8.8K must hold!
7/ While I understand, most of the players are bullish right now, but I think there is more short term pain to come. 8.8K must hold though I feel we should bottom around 9.4K.
All these charts will be explained in detail in my blog http://coinmaster.substack.com"> http://coinmaster.substack.com . Subscribe & stay tuned
All these charts will be explained in detail in my blog http://coinmaster.substack.com"> http://coinmaster.substack.com . Subscribe & stay tuned
