The shorts continue to open positions and it is visible on the biggest peak at 24K with 85 million dollars in liquidation, but first are we going to take the liquidity via the peak towards 21.1K? and until then to also see if the shorts have closed their positions at a loss or they will still continue to believe that will bring us back to the next big peak at 24K or another new peak before 24K!
I have already posted an analysis towards a Bottom at 10K with the 3 moving averages (19 / 38 / 62) in Weekly in order:
- The MA 62 above the other 2
- The MA 38 in the middle
- The MA 19 at the bottom.
MA 19: white
MA 38: orange
MA 62: the blue one
You will find more details in the link below:
https://www.publish0x.com/the-king-of-crypto/btc-daily-and-weekly-technical-analysis-down-trend-continuat-xxzyxjg
What I have just seen now is at each Weekly close at the same time as the bearish crossover of the MA 38 at the bottom of the MA 62 so the orange that crosses at the bottom of the blue, I noticed that on the 2 last two cycles we went down from -50% to -58%, and now if we do the same thing +or- I see a 10K towards -52% since the bearish crossover of the 38 MM with the 62 MM at 20850 $
https://www.tradingview.com/x/0B4GIf2y/
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