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📍#Bitcoin Update (Continuous)
🔹Bitcoin is trying hard to maintain its position above $60k
🔹Today's market will be volatility due to the release of CPI data.
🔹It's expected to come 3.4%, but if it above this, we might see a market fall.
🔹The CPI data will play a crucial role in determining whether interest rates will be cut in the future or not. However, I don't believe it will exceed 3.4 today.
- Hong Kong's Bitcoin and Ether ETFs experienced a significant outflow.
- The outflow amounted to a record-breaking $39 million.
- This wiped out the gains made by these ETFs over the course of two weeks.
#Avax is forming a triple bottom pattern, indicating a bullish trend.
Potential target price is $40 if the pattern is followed.
However, there are lower probabilities due to the increasing Bitcoin dominance, currently at 55.2%, which is unfavorable for altcoins.
If signs of reversal appear in dominance i will inform you. So be Active and stay tuned 👍
📍#Bitcoin Update (Continuous)
🔹Bitcoin's weekly candle closed in the red, just like we thought it would.
🔹Around the 56k to 57k range, we're seeing a trendline that seems to be supporting the price.
🔹If Bitcoin breaks below the support at 59k, it might reverse in price with the help of the trendline support.
Stay tuned for more information!!
📊 CME Fed Watch: There is a 96.5% probability that the Fed will maintain interest rates in June, and a 3.5% probability of a cumulative 25 basis point rate cut.
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📍#Bitcoin Update (Continuous)
🔹Bitcoin has returned to its support level at $60,000 because there was liquidity available
🔹However, this support has been tested multiple times before, making this level Weak and could break Possibly.
🔹Grayscale's selling pressure was higher yesterday, contributing to the downward movement.
🔹The total outflow from Grayscale was $103 million.
Stay tuned for more information!!!
📍#Bitcoin Update (Continuous)
🔹Bitcoin has successfully retested its support and shown an upside move in its price thereafter.
🔹On the upside, the 50MA at 65,000 is acting as a resistance, so if the price reaches there, we might see a rejection.
🔹The support at 60,000 has been tested multiple times which is why it becomes Weak
Stay tuned for more information!!
Bitcoin Update Continuous
▫️Bitcoin's price is currently retesting the falling wedge pattern, where we're also seeing significant support.
▫️If this Support breaks There's a chance for Bitcoin will back Below $59,000 and potentially reach $57,000 where it will form a Double bottom pattern.
▫️After this, we might see a bounce back and the price could move towards reclaiming its upside liquidity.
Stay tuned for more information!! ✅
#Bitcoin Update Continuous
🔹On the one-hour time frame, Bitcoin is forming a descending channel.
🔹Along with this, there's also a double bottom pattern forming, indicating a potential upward movement in the price of Bitcoin which could send the price above $64,500.
🔹However, if the pattern isn't followed, we might see a drop down to $61,000, which is an immediate support level.
Stay tuned for more information!!🚀
We may spend some time in a tight range before the pump. Greed is on the streets again!
I don't really use this indicator for positioning, but sometimes it helps understanding the bigger picture.
🔹 Shiba Inu forming a descending triangle, indicating a bearish pattern.
🔹 Price experiencing rejection from the upper trendline of the triangle where the 50M.A also lying.
🔹 Possible correction of 10% to 15% before an upward movement.
👩🚀 #REVIEW BITCOIN WEEKLY
A few hours left until weekly candle close. Thus far this chart looks bullish as hell!
One big wick into the weekly support level with a precise bounce may be the start of the new mid-term pump!
A major liquidity is near $68k to $70k
Do you guyz think Bitcoin will reach at that point before $52k
Yes 👍 No 👎
Legendary trader Michael Burry, who predicted the 2008 financial collapse, warns about the U.S. government's debt:
"When interest on your debt surpasses your tax income, it's a Ponzi scheme."
&
Bitcoin:
1⃣ Fixed Supply
2⃣ Backed by Energy
3⃣ No one can control it
Bitcoin’s 90-day correlation with US equities rose to 0.17 last week, after reaching a multi-year low of just 0.01 in March.
Overall, Bitcoin’s correlation with risk assets remains well below its bull market highs of over 0.6
#Bitcoin Update ( Continuous)
🔹Bitcoin faced rejection around $63,500 and is currently experiencing a downward trend.
🔹The next potential support level for Bitcoin is around $60,500.
🔹The outflow from Hong Kong ETFs has impacted Bitcoin's price, but the negativity may not persist for long.
🔹Major banks like JP Morgan and other institutes are buying Bitcoin ETFs, indicating a positive outlook for Bitcoin's future.
Stay tuned for more information!!
🇺🇸 Spot #BitcoinETFs Positive inflows with $65.96M ( 13-05-024 )
🔹 #Grayscale & #Blackrock saw Zero Inflow/Outflows
🔹 Total Value Traded: $1.36 Billion ( As of 13th May )
🔹 Total Net Assets ~$52.86 Billion in 🇺🇸 Spot ETFs
🔹 Only #Fidelity #Bitwise #VanEck saw +ve Inflow
Total inflows of $65.96M in Spot 🇺🇸#BitcoinETF
1⃣ $BITB $20M ( 330.32 BTC )
2⃣ $FBTC +$39M ( 628 BTC )
3⃣ $HODL +$7M ( 115.53 BTC )
4⃣ Others = Zero Inflow/Outflow
🔰 3 ETFs = +ve Inflow
🔰 8 ETFs = 0 Inflow/Outflow
US Bitcoin ETFs Bought 1074 $BTC Yesterday which is Equal to Approximately 2 and Half days supply.
🚨 Big News for #Ethereum Coming Soon! 🚨
Only 12 Days to Go!
In just 12 days, something important is happening. The #SEC will decide on three #EthereumETF applications by May 25th.
This is big news for $ETH
We're watching closely and will keep you updated.
#Bitcoin Update (Continuous)
🔹There haven't been many changes in Bitcoin, and it's still accumulating above $60k.
🔹Tomorrow is weekly candle closing, and this time, a red closing might be seen.
🔹From the On-Chain perspective, there's a chance of the price dropping below $59k due to available liquidity.
Stay tuned for more information!!
- Liquidity between 60k to 59k levels is still available.
- However, liquidity near 64k is higher.
- Bitcoin may revisit the 59k level.
- Then, it could potentially rise back to around 64k to capture the liquidity there.
JUST IN 🚨 : 🇮🇳 Binance obtains registration with India's Financial Intelligence Unit. 👀
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Wow!! European regulators may let #Bitcoin join the $12 trillion UCITS market which is almost double the size of US ETFs! 🌍
👉 Source
🚨 Breaking News! 🚨
🇺🇸 VanEck US, a major investment firm with assets under management worth $89.5 billion, has just launched a #memecoin index!
🔹 Featured Coins:
$DOGE ( #Dogecoin )
$SHIB ( #ShibaInu )
$WIF (Dogwifhat)
$BONK (Bonk Inu)
$PEPE (PepeCoinETH)
$FLOKI (Floki Inu)
#VanEck #BitcoinETF
Bitcoin Dominance has risen above 54%, leading to a weakening of altcoins....
However, there's a chance of some accumulation in Bitcoin Dominance, possibly stabilizing altcoin prices with less significant drops.🤞
During this accumulation phase, low-cap coins might witness more pumps compared to high-cap coins...
#Bitcoin Update (Continuous)
🔸Bitcoin is retesting the trendline of the falling wedge pattern.
🔸Once we see a successful retest, then can expect a bounce back in its price.
🔸$62,500 is the support area.
🔸If BTC breaks this level, then $61,600 is the next support area.
Stay tuned for more information!!
#Bitcoin Update (Continuous)
🔹Bitcoin's weekly candle closed with a bullish hammer.
🔹The price is already back inside the range area.
🔹We can expect a bullish move up to $67,500, where it may encounter some resistance.
🔹The Nearest support area is $62,500.
Stay tuned for more information!! ✅
#Bitcoin Update continuous
🔸Bitcoin is trying to break out of the Falling Wedge pattern.
🔸For a bullish move, $BTC needs to stay above $63,800.
🔸However, if rejected, it can push the price to the $61,000 level.
🔸Today, we also have the weekly candle closing.
🔸If BTC closes above the $61,000 level, then it is going to be a bullish closing.
Stay tuned for more information!! ✅
BITFINEX DATA BREACH CONFIRMED, 2.5TB OF DATA AND 400K CUSTOMERS DATA LEAKED: SHINOJI RESEARCH
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$169.9M Liquidated in last 24 Hrs.
Long Liquidation : $38.7M
Short Liquidation : $131.2M
High Liquidations : (#Binance)
Longs : #BTC $4.8M, #ETH $2.9M, #SOL $2.1M, #TRB $844.0K
Shorts : BTC $17.4M, ETH $16.6M, SOL $2.3M, DOGE $1.5M