10.3K @5waps #Bitcoin [GM]:
The Binance perp L/S ratio is ~51% net long [retail], down from ~68% when BTC was at ~66k [inverse correlation].
For more upside this ratio needs to keep falling and we need to clear ~70k/71k.
~67k iceberg [block order] first key level followed by ~65k we need to hold to avoid a trip back to ~60k.
~60k to ~80k remains the near-term range.
OBD / SMC
10.3K @5waps Liquidations + retail L/S ratio ↓. Both data sets are manipulated🔸 https://t.co/F9C8JBLQnE
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139.4K @Washigorira 139.4K @Washigorira #Bitcoin
Weekly close below Tenkan 🔴 in progress.
BTC needs to reclaim it, along with the downsloping trendline. https://t.co/JFKsStYOae
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146.9K @CryptoGirlNova 146.9K @CryptoGirlNova I can quite confidently say that I receive WAY more hate comments when I post a potential bearish setup vs a bullish one.
In reality I know Bitcoin doesn't care a single bit what most of us post. Even if everyone becomes bullish or bearish all together here:
If Bitcoin was going to go down, it's going to go down (previous range proved that quite well).
If Bitcoin was going to go up, it's going to go up.
All of us together don't even fill 0.001% of Bitcoin's daily volume.
"Everyone is looking at that doesn't exist anymore"
We are living in an echo chamber here where Bitcoin's daily 50 to 100 BILLION volume isn't impacted even for a single 0.001%. All of us together.
But if you truly still want to believe there are mote bulls vs bears or vice versa?
Bulls are still plenty. You'll be surprised about how many people are actually bullish because they think others are bearish (amplifying it even more).
That all being said:
When I post a potential bearish setup it's only to highlight that as of TODAY, the
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Bitcoin (BTC) is a digital asset and a payment system invented by Satoshi Nakamoto who published a related paper in 2008 and released it as open-source software in 2009. The system featured as peer-to-peer; users can transact directly without an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain. The ledger uses bitcoin as its unit of account. The system works without a central repository or single administrator, which has led the U.S. Treasury to categorize bitcoin as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value by now.
