BTC back to 50k?!

  • by


– Yello Ladies and Gentlemen🚬😎🍸

💎Firstly Congratulations🤝 Since 12th February (click it), when Bitcoin was worth only $47771, we shared with you in the FREE BTC update where is BTC most likely heading next. Until today BTC has risen by 20% and is following our path exactly as we predicted.

💎At the time of writing, Bitcoin is undergoing a smaller pullback. Right now, BTC is trading at around $56k.

💎A small amount of whale activity has taken place around the highs of the morning. A spike in Exchange Inflows was also recorded around the same time. The spikes in Token Age Consumed and exchange Inflows are not massive yet. They do not currently suggest that Fridays up move could be reversed in a meaningful way at this juncture.

💎Bitcoin’s ratio of longs vs shorts on BitMEX indicates a very high percentage of longs, meaning long traders are paying a premium to short traders.

💎From a purely technical perspective, the bearish MACD price divergence is present until $50,000 and $43,000. The RSI and Stochastic oscillators are also approaching ATHs, further increasing the chances of a short-term bearish reversal.

💎Right now, we see only a 5% pullback. Still, It is also unquestionable that we’re going to see 2 or 3 more 25-35% sharp corrections in the future. We’re in the market cycle stage, one of the final ones, yet one of the accelerating volatility . This means BTCUSD will wash all the new “noob” traders efficiently out of their money if they choose to follow short-term timeframes and trade with high leverage like maniacs, hoping to get rich overnight.

💎10-15k daily candles upwards and downwards are coming, and this will soon become unbearable for inexperienced traders. The most insane roller coaster of price action is coming. The more volatility , the more risk, and the closer to the market top we are. We still think we’d have time until November-December, which are typical reversal periods for BTCUSD , followed by another 80-85% drawdown of the bear market. But once you start hearing how euphoric everyone else is about BTC , exercise discipline and get fearful.

💎However, never try to catch a total top in a bull market. We have seen quite a few significant reputable accounts trying to call the tops wrongly in the past two days. It tells us that themselves and their „whale friends” will likely follow up with short orders trying to catch the top (impossible) and providing liquidity to the buys. Still yesterday’s daily candle close marked powerful. We can be ongoing a larger correction in a short-term however the macro trend is still bullish .

💎Also, feel free to take a look at this mind-blowing Bitcoin’s Net Unrealized Profit or Loss (NUPL) on-chain metric chart 👉click here.