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End Of Week BTC Analysis (everything you need to know)
A friend asked me today about bitcoin so why not share what I see to the world. (IMAGES ARE FOR INTRA-DAY ANALYSIS, I START THIS POST BY DISSECTING THE HIGHER TIME FRAME FIRST) In the higher time frame bias I am seeing bitcoin being bullish by a lot of different factors, but I cannot rule out the idea of the pullback structure we have formed since the drop back in June 1st. For the long term I am seeing a pullback area I would eye around 59,500’s since that was our bottom back in June 5th, a Friday. Why I’m I bullish on the higher time frame? Because we have: - ETF inflows accelerating. - Corporate Treasury adoption rising. - Declining exchange reserves. - institutional dip buying active. - Risk-On environment favoring BTC. Now, this can change in a instant and we have to be careful on these things: - US Bond yields rising sharply. - Stocky inflation risks persist, meaning the energy crisis we are living in. - Fed maintained hawkish tone. - Stronger US data supporting dollar strength. For intraday analysis, see the picture, I have provided support and resistance levels, as well as a target level and the reasons why. submitted by /u/TheForexHouse [link] [Kommentare] reddit.com · reddit.com
A friend asked me today about bitcoin so why not share what I see to the world. (IMAGES ARE FOR INTRA-DAY ANALYSIS, I START THIS POST BY DISSECTING THE HIGHER TIME FRAME FIRST) In the higher time frame bias I am seeing bitcoin being bullish by a lot of different factors, but I cannot rule out the idea of the pullback structure we have formed since the drop back in June 1st. For the long term I am seeing a pullback area I would eye around 59,500’s since that was our bottom back in June 5th, a Friday. Why I’m I bullish on the higher time frame? Because we have: - ETF inflows accelerating. - Corporate Treasury adoption rising. - Declining exchange reserves. - institutional dip buying active. - Risk-On environment favoring BTC. Now, this can change in a instant and we have to be careful on these things: - US Bond yields rising sharply. - Stocky inflation risks persist, meaning the energy crisis we are living in. - Fed maintained hawkish tone. - Stronger US data supporting dollar strength. For intraday analysis, see the picture, I have provided support and resistance levels, as well as a target level and the reasons why. submitted by /u/TheForexHouse [link] [Kommentare]
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