BTC again selling exact trendline if it breaks that channel center line before next month candle start we will see free fall to 74k if it hold above that center line BTC will show reversal candle by touching this line.
Disclaimer - This is only learning purpose it's not financial advise. Please do your own research and invest carefully
asAs we can see their is weekly support trend line follow by BTC. BTC not break weekly trend line now it rising with wide spike in week.
In my opinion I'll will wait for retest and then enter.
some people say it's star of bear market really?
smart money is not easy to earn
so learn and trade.
I'll be bullish when it retest from previous weekly candle closing. if reversal candle move appere then I'll invest till then wait
1 more scenario if it BTC hold above 60000$ this week above monthly closing trend line then also bullish sine.
Buy the Dip. dont be a greedy market is works on emotions
trade cautiously
BullishBanter
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Here is Market Next moves
The market for long and short positions has seen significant intensification, and many believe this is due to the Bank of Japan's recent actions to ease market tension, causing cryptocurrencies like $BTC to move in sync.
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Here’s my view👇 (No need for lengthy comments, just clear and concise thoughts): 1. The crypto market is highly volatile. Some believe that factors like the German government's coin sales, U.S. government transfers, and the Federal Reserve's talk of rate cuts are contributing to this volatility. Japan, it seems, couldn't remain passive. However, it's crucial not to get swept away by the surface and to consider deeper implications. 2. The crypto market has evolved into a complex environment with significant amounts of hot money flowing in. With minimal regulation and 24/7 global trading, large investors hold a considerable advantage in this landscape. 3. On-chain data shows that 358,000 BTC have been moved to permanent holder addresses in the past month (Figure 1). Additionally, global spot ETF inflows reached 53,000 BTC in July, marking an all-time high. Clearly, the market is seeing substantial buying on dips. 4. On a micro level, over the past 48 hours, 100 wallets have collectively purchased 2,800 $BTC (Figure 2), further indicating that many are buying on dips. 5. Hot money enters the market with the intent to profit quickly. In the crypto space, contracts have turned into a zero-sum game between retail and large investors. Large investors manipulate the market in several ways: (1) Acquiring substantial amounts of coins at low prices in the spot market, creating a bullish environment that convinces the masses that prices will continue rising beyond 70,000, thereby luring long positions; (2) Leveraging international events to shape expectations; for instance, the Japanese yen's interest rate hike on July 31 briefly lifted the financial markets. Despite a slight dip in BTC at the time, many still went long. The proportion of long positions rose from 60.09% on July 30 to 74% on August 4 (Figure 3), signaling danger, which became evident on August 5...
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