Another 9K BTC which have just arrived on the exchanges today, in the majority of cases it's to be sold.
Traders with high leverage have calmed down, and now the first big spikes in liquidation are within +or- 10% of price either north or south, but a lot of liquidation in the south to look for just below the last Bottom that we had in June 18 at 17.6K
Today's large engulfing candle is a pleasure to see, it will be supported by volumes or just a hunt for short stops to clear the train before continuing lower?
Short term bullish signals in Daily:
- The rebound on the support at 18.5K
- The MACD has gone bullish.
- The OBV (On Balance Volume) rises with the price.
- The RSI has just confirmed the bullish divergence by crossing above the 50 level.
- The next resistances to watch: 22.6K and 24.4K
We are still bearish in Weekly, and the news doesn't correlate with the rise, just Europe has just increased interest rates like the US to 0.75%, electricity which could be very expensive this winter in Europe, Russia blocking Europe, China struggling with Covid, maybe I missed something positive that drived the price up?
https://www.tradingview.com/x/nkKfxzZG/
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