1/4
Morning update:
Bitcoin is again trading above our trackline while the Coinbase Premium remains positive👌As expected, we did not spend much time below the trackline💪$BTC
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1/4
Morning update:
Bitcoin is again trading above our trackline while the Coinbase Premium remains positive👌As expected, we did not spend much time below the trackline💪$BTC
2/4
Furthermore, it printed the first positive MACD in 50+ days and has broken above the 65+ day RSI downtrend. The trend is shifting and things are looking good. Since RSI and MACD are very popular indicators, many institutions are likely looking at them when it comes to their trading setups and decision-making. In other words, we are expecting bigger ETF inflows over the coming days🤔$BTC
3/4
Funding rates remain low, showing no signs of hype or euphoria✅
4/4
Overall, the market saw a nice reset and is ready for the next leg up. It looks like the coming weeks should be fun. Altcoins are also looking good and should soon bounce from the lows. Some already started to print nice gains while others are still in the accumulation range👀
Have a great start of the week and we will be back with you tomorrow🙌
Quick update: looks bullish. A little…too bullish for a Sunday. Low volume pumps into underside resistance.
Maybe it’s a pivot out of bearishness. We see. Needs to prove itself first.
We wait for next week
The rebound in $BTC is very promising so far. 64k is the resistance zone we are fighting now. A break above the 64k level would confirm the new uptrend. We stay convinced this bullmarket is far from over and are happy with our positioning.
Before the drop, I was looking a Puell Multiple, about which I have already posted about a few months ago.
For clarification, puell multiple is a metric defined as the ratio of the daily value of the issued BTC, devided by 365 moving average of the daily value of issued BTC.
The Puell mutliple dropped from 2.63 to 0.65 after the halving. The value of Puell multiple with BTC at 63k is at the similar level as when BTC was 22k. The longterm outlook of this is bullish.
Yestedays ETF Flows came in at +$378.3M.
Big inflow as we were expecting already, seeing the Coinbase bid all day and premium getting green.
IBIT saw net flows of $12.7M. FBTC saw net flows of $102.6M. GBTC Saw $63M in inflows! First time ever since converting into an ETF that it took in money.
keeping my fingers crossed.