Bitcoin Price Analysis — A still week comes to an end

Bitcoin Watch Shop

The technical setups posted next use elementary trend detection, support and resistance, channels, settlement and candle analysis. We aim for high-probability trade setups on BTCUSD and use really few indicators. All charts use BNC’s Bitcoin Liquid Index for limit accuracy.

The timeframe for trades is 1 to 7 days, so we’ll use 4h candlesticks. Bitcoin is best traded as a quite suppositional commodity on 4h+ timeframes.

Market Sentiment

This territory is formed on inner (anonymized) Whaleclub trade information and is published exclusively on BNC.

Current Active Long vs Short Volume Ratio: 3.83:1

Average Active Long vs Short Volume Ratio: 2.5:1

We still observe an additional in active prolonged volume relations to a average. Market players are comparatively bullish, though most reduction so than final week where a ratio was above 5:1. As cost has been operation firm over a past few days, desirous longs who were awaiting a discerning burst in cost were left disappointed, and exit their positions.

The normal weighted prolonged entrance cost is $458.20, that means that on average, stream active longs are about even (not losing though not essential either). Players who bought a $465-$470 area have exited their positions, with a expectancy of further

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