Bitcoin is moving aggressively past significant orderbooks orders (17.5).
The next big demand zone in most orderbooks sit between 15k and 14k range. This zone will require extra effort to be pierced through.
I personally believe at this point that even if we bounce there. There will be good chance we mark down lower (around 11k) after the pull back.
Funding rates keep flip flopping too quickly to my taste. Which implies people too keen to buy the dip even against falling knife.
If you want bit more nuanced and in-depth view check my last video post few hours ago.
The next big demand zone in most orderbooks sit between 15k and 14k range. This zone will require extra effort to be pierced through.
I personally believe at this point that even if we bounce there. There will be good chance we mark down lower (around 11k) after the pull back.
Funding rates keep flip flopping too quickly to my taste. Which implies people too keen to buy the dip even against falling knife.
If you want bit more nuanced and in-depth view check my last video post few hours ago.
D7R
