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A little thread on #Bitcoin before some mega content drops later in the week.
As we all know the majority of #cryptocurrency moves in relation to #Bitcoin so important we monitor it.
If you like it please retweet + tag a friend π§΅π
A little thread on #Bitcoin before some mega content drops later in the week.
As we all know the majority of #cryptocurrency moves in relation to #Bitcoin so important we monitor it.
If you like it please retweet + tag a friend π§΅π
1/ DEATH CROSS
The short term outlook has looked somewhat bearish with a death cross forming on both the 1HR + 4HR. However momentum on the 1HR looks like it might swing positive again.
So somewhat bearish but not the end of the world.
The short term outlook has looked somewhat bearish with a death cross forming on both the 1HR + 4HR. However momentum on the 1HR looks like it might swing positive again.
So somewhat bearish but not the end of the world.
2/ TAX
Whilst this may seem a little bearish. I am personally not worried. I think people may be selling some #bitcoin & #cryptocurrency in general to pay taxes.
A view shared by the @TheRealPlanC below
Whilst this may seem a little bearish. I am personally not worried. I think people may be selling some #bitcoin & #cryptocurrency in general to pay taxes.
A view shared by the @TheRealPlanC below
https://twitter.com/TheRealPlanC/status/1476456098819420161
2/ MAYER MULTIPLE
If people are selling simply to pay tax, now might be a good time to buy. On the MM we have fallen below 1 again which indicates a buy zone. Personally i have buy orders all the way down to $42k to snap up #bitcoin at cheaper prices.
If people are selling simply to pay tax, now might be a good time to buy. On the MM we have fallen below 1 again which indicates a buy zone. Personally i have buy orders all the way down to $42k to snap up #bitcoin at cheaper prices.
3/ BUY ORDERS
My reason behind this is because there seems to be a thick wave of buy orders between 43k - 40k. This indicates to me a potential support band, although always be weary whales might be playing mind games.
My reason behind this is because there seems to be a thick wave of buy orders between 43k - 40k. This indicates to me a potential support band, although always be weary whales might be playing mind games.
4/ INSTUTIONS - PT1
Overall volume hasn't reached the levels it was at back in April.
BUT this great post by @WClementeIII digs deeper & shows that bigger orders (possibly institutions) are still buying big. In short - smart money is still buying.
Overall volume hasn't reached the levels it was at back in April.
BUT this great post by @WClementeIII digs deeper & shows that bigger orders (possibly institutions) are still buying big. In short - smart money is still buying.
https://twitter.com/WClementeIII/status/1475974590522445824
5/ INSTUTIONS - PT2
This correlates with the @coinbase data i shared in my last #Bitcoin thread i wrote. In short whilst retail buying is lower, institutions are still snapping things up.
This correlates with the @coinbase data i shared in my last #Bitcoin thread i wrote. In short whilst retail buying is lower, institutions are still snapping things up.
https://twitter.com/Willbrandblock/status/1473980063225888770
6/ BTC on EXCHANGES
One thing that does concern me/one to keep an eye on is there has been a relatively small increase in the number of #btc coming back onto exchanges.
Possibly because people are putting #bitcoin back on exchanges to sell for taxes....but who knows?
One thing that does concern me/one to keep an eye on is there has been a relatively small increase in the number of #btc coming back onto exchanges.
Possibly because people are putting #bitcoin back on exchanges to sell for taxes....but who knows?
7/ FIB LEVEL SUPPORT
We can see from @TechDev_52 great FIB chart, that we have bounced off a key level of support. Indicating a possible upward move is around the corner... if we repeat previous cycles
We can see from @TechDev_52 great FIB chart, that we have bounced off a key level of support. Indicating a possible upward move is around the corner... if we repeat previous cycles
7/ CONCLUSION
-Large buyer orders (ie smart money) are still buying.
-Strong buy order support between 43k-40k
-People may be selling due to tax BUT keep an eye out on BTC on exchanges...don't want upward trend to continue.
-Overall bullish...we are seeing extended cycles imo
-Large buyer orders (ie smart money) are still buying.
-Strong buy order support between 43k-40k
-People may be selling due to tax BUT keep an eye out on BTC on exchanges...don't want upward trend to continue.
-Overall bullish...we are seeing extended cycles imo
8/ OTHER THREADS covering the following, found in link below:
-RESEARCH SMALL CAPS
-RESEARCH TOOLS
-TOKECONOMICS
-MY FAV BITCOIN INDICATORS
-AND MUCH MORE
-RESEARCH SMALL CAPS
-RESEARCH TOOLS
-TOKECONOMICS
-MY FAV BITCOIN INDICATORS
-AND MUCH MORE
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