BTCUSDT - Fundamental Idea.
This idea of operative. It's for a 15-minute chart.
There is currently a lot of negative news. But beyond that I am going to base myself a bit on fundamentals rather than on technical terms this time.
Let's write down these little facts that some people don't know. I will write them one by one. Keep abreast :)
1- Falling Open Interest. In general, when open interest tends to decline, to a standstill, Bitcoin usually enters a lateral, cumulative zone where a new possible trend, either downward or upward, is usually generalized.
2- Positions in Binance, the main exchange, continue to remain long, despite the euphoria generated by the USA. Regarding the FED and the Invasion of Ukraine.
3- Currently, most institutional companies continue to maintain their longs in Bitcoin, a number greater than 7 times the shorts in the latest report from the Securities and Futures Commission. (CFTC – February 1, 2022).
4- Regarding Volume, the longs continue to be, compared to the shorts, the strongest resistance point regarding Volume in the short period of 1H is 45K. Level that we mentioned in the previous analysis. Being precisely this point that started this fall, you can review this in the previous uploaded analysis.
Personally, I do not believe that any of the factors provided by the USA or by news reports is the reason for this fall, I believe that they are the investors in cryptocurrencies themselves, taking precautions against a possible fall. However, there is a strong amount holding to their idea of driving the price higher. At least the 48-49K USDT levels.
I think the current point is a build up of resistance from the bears where they will be able to ride their own extension into current levels from 42K-40K. To obtain a better amount and thus take greater benefits. My target is 48-49K USDT. Because there are the 2 main resistances in Volume Profile (Daily, Weekly).
It is an idea, do not take it so literally, I recommend our users to place StopLoss on profits of at least 30% of what we have generated with our signals. Hence let it run.
Support and Resistance Levels, Daily Chart (Volume).
Last Report: 02/11/2022
There is currently a lot of negative news. But beyond that I am going to base myself a bit on fundamentals rather than on technical terms this time.
Let's write down these little facts that some people don't know. I will write them one by one. Keep abreast :)
1- Falling Open Interest. In general, when open interest tends to decline, to a standstill, Bitcoin usually enters a lateral, cumulative zone where a new possible trend, either downward or upward, is usually generalized.
2- Positions in Binance, the main exchange, continue to remain long, despite the euphoria generated by the USA. Regarding the FED and the Invasion of Ukraine.
3- Currently, most institutional companies continue to maintain their longs in Bitcoin, a number greater than 7 times the shorts in the latest report from the Securities and Futures Commission. (CFTC – February 1, 2022).
4- Regarding Volume, the longs continue to be, compared to the shorts, the strongest resistance point regarding Volume in the short period of 1H is 45K. Level that we mentioned in the previous analysis. Being precisely this point that started this fall, you can review this in the previous uploaded analysis.
Personally, I do not believe that any of the factors provided by the USA or by news reports is the reason for this fall, I believe that they are the investors in cryptocurrencies themselves, taking precautions against a possible fall. However, there is a strong amount holding to their idea of driving the price higher. At least the 48-49K USDT levels.
I think the current point is a build up of resistance from the bears where they will be able to ride their own extension into current levels from 42K-40K. To obtain a better amount and thus take greater benefits. My target is 48-49K USDT. Because there are the 2 main resistances in Volume Profile (Daily, Weekly).
It is an idea, do not take it so literally, I recommend our users to place StopLoss on profits of at least 30% of what we have generated with our signals. Hence let it run.
Support and Resistance Levels, Daily Chart (Volume).
Last Report: 02/11/2022
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