Hello, TradingView readers and our subscribers. Now we, the Lemon Insiders team, will tell you the situation as we see it!
In our past ideas, the upward channel was clearly visible, although the “bullish flag” was clearly visible on the Bitfinex chart. Here, yesterday, the spread began to shrink at the expense of Bifinex and now it is $ 175, and just yesterday it reached 250.
Actually, yesterday the price of BitMEX dropped from the ascending channel to support (bold dotted line) and is still held there. Yesterday, there was no strong pressure of the seller on BitMEX, however, on Bitfinex too. We actively watched the order book and there were no real large sales in the market. Just all moved orders, as if deliberately lowered the price.
The fact that there was not a strong pressure of the seller, the MACD indicator tells us, this is also confirmed by the volumes and continuous doji candles along with absorption. This only tells us that the spread is artificially reduced and the BTCUSD rate a bit from this.
The shorts with longs have been slightly reduced, but there are still a lot of shorts and they need to be taken out, and they will be taken out strongly. Even if the candle for $ 700 could not pacify the bears, then there will be more attempts. If the manipulator is firmly set to go down, he will not pull 70% of the market in shorts.
The StochRSI indicator at 4 o'clock begins to unfold, MACD along with it. Bear pressure and so extremely weak, so it also weakens. Now, a “bull flag” figure has been formed on BitMEX, which works upward by the length of the flagpole, i.e. There is every chance to send the price at the price of 6550-6600, to the global downward.
We also do not want to exclude the option of falling, because in the medium term the market remains declining. If support at 6360-6370 does not sustain, provided the support volume, the price may well fall on another support - 6240-6250.
In our past ideas, the upward channel was clearly visible, although the “bullish flag” was clearly visible on the Bitfinex chart. Here, yesterday, the spread began to shrink at the expense of Bifinex and now it is $ 175, and just yesterday it reached 250.
Actually, yesterday the price of BitMEX dropped from the ascending channel to support (bold dotted line) and is still held there. Yesterday, there was no strong pressure of the seller on BitMEX, however, on Bitfinex too. We actively watched the order book and there were no real large sales in the market. Just all moved orders, as if deliberately lowered the price.
The fact that there was not a strong pressure of the seller, the MACD indicator tells us, this is also confirmed by the volumes and continuous doji candles along with absorption. This only tells us that the spread is artificially reduced and the BTCUSD rate a bit from this.
The shorts with longs have been slightly reduced, but there are still a lot of shorts and they need to be taken out, and they will be taken out strongly. Even if the candle for $ 700 could not pacify the bears, then there will be more attempts. If the manipulator is firmly set to go down, he will not pull 70% of the market in shorts.
The StochRSI indicator at 4 o'clock begins to unfold, MACD along with it. Bear pressure and so extremely weak, so it also weakens. Now, a “bull flag” figure has been formed on BitMEX, which works upward by the length of the flagpole, i.e. There is every chance to send the price at the price of 6550-6600, to the global downward.
We also do not want to exclude the option of falling, because in the medium term the market remains declining. If support at 6360-6370 does not sustain, provided the support volume, the price may well fall on another support - 6240-6250.