After a fake break out of the bullish channel, we made a lower low to come back inside the accumulation range before a next distribution.
- The Longs went above 50% towards a bull trap at the bottom.
- The Funding rate is still positive in favor of the Shorts.
- The price is testing the MA 62 in H4 as a support that we have lost and regained several times since the last drop towards 17.5K, it confirms that we are in a range with false signals and liquidity hunts .
https://coinalyze.net/snapshot/5fO9t3j3
The weekend is full of traps with false signals, but gaps are often left empty, either filled sooner or later and rarely ever.
Finally, it's better to wait for the weekly opening tomorrow Sunday evening to see what they will do to the whales of the stock market with the BTC1 CME, the S&P 500 Futures and the Dollar index DXY.
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