Bitcoin/Cryptocurrency Analysis 6/29 — standard bearishness
Yet another day, more ugliness ahead. Bitcoin appears to be starting to find another bearish run ahead of it. Notice how the volume on the drop was immensely bearish, and then…..some bullish response, and now…back and forth? That’s consolidation.
Daily charts show that this bullish move up went into nothing, effectively. More bearishness is sustained, despite Microstrategy buying more bitcoin.
Futures funding shows us that we’re having the standard bearish control setup. Where fake longs come out, shorts move the market. 3 times recently where OI has matched shorts every single time but hasn’t moved on longs at all, for the most part. What we’re looking at is an imminent market collapse coming.
Aggr is showing us that nothing has really changed, just liq hunts abound because people are stupid.
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Aggr shows constant liq hunts, which is pretty normal. All in all, standard market goes down.
