BTC- Go lower in order to bounce higher
Hello traders!
Despite the 100 millions long liquidation and the drop of 10% open interest during the epic bull trap last week, the maximum selling pressure still seems far away.
The only way to go up is to dip down further in order to reach for more selling liquidity.
I believe we will continue to see more moderate supply runs follow by weak demand runs until strong limit sell orders and sell walls show up with the conviction.
Of course, not completely ruling out the possibility of the bull flag momentum run yet. Though unlikely judging by the weak daily buy volume.
Please click like and follow me if you find my analysis useful. Happy trading :)
Please do your own due diligence and research. My analysis is only my opinion, not the investment advice.
https://twitter.com/Game_Of_Coinz/status/1230949673646428161/photo/1
Despite the 100 millions long liquidation and the drop of 10% open interest during the epic bull trap last week, the maximum selling pressure still seems far away.
The only way to go up is to dip down further in order to reach for more selling liquidity.
I believe we will continue to see more moderate supply runs follow by weak demand runs until strong limit sell orders and sell walls show up with the conviction.
Of course, not completely ruling out the possibility of the bull flag momentum run yet. Though unlikely judging by the weak daily buy volume.
Please click like and follow me if you find my analysis useful. Happy trading :)
Please do your own due diligence and research. My analysis is only my opinion, not the investment advice.
https://twitter.com/Game_Of_Coinz/status/1230949673646428161/photo/1
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