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In the BTC update on May 14, in the previous update, we mentioned that there were too many long orders and long orders that came too soon, which led to a decline in price from 28 to 258.

The current situation has not shown any positive sign yet as SPOT still maintains selling pressure and perp only slows down the price decline and is unstoppable (h1). Whale wallets in the last week and month frame have bought in but the volume is very modest (h2,3). btc liquidity is lacking as the pending buy orders are large in the last update we mentioned a big buy wall at 26 and 258 is in fact a liquidity trap for people to push the price up and when The wall appeared at 26 mn and pushed the price up to 283. The fish that succeeded in buying and selling liquidity was sold at the highest price around 28k and when the price returned to close to 26k (h4) they removed the wall again. This is a very good fish job and very successful. The conclusion is that when large buying walls appear below, there will be a short-term bullish scenario and a medium-term bearish scenario. Long term BTC still waiting for SPY to re-open can increase to the range of 412(h5) and pull BTC up slightly. However, it is possible that the recovery momentum will not last long when at 412 positive gamma, similar to BTC, will be 27 and 27250(h6).

Source: Collector



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