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AXS big unlock coming up in next few days of about $215 Million of early investors and insiders.
As a result price is taking a hit.
#Bitcoin didn't any good moved yet, just consolidating inside the major support zone of $18,850 - $19,800. #DXY (#Dollar Index) in now short-term bearish, so market is taking minor relief. Keep you Stoploss tight as once the short-sell move is completed, market will experience high volatile move.
#BTC didn't gave any major move yet but price gave a small breakout to the upside but candles were very choppy with less momentum. Take trade accordingly with respect to #BTC movement.
BTC Analysis:
1. BTC seems to have broken out from the range it was trading for 36days.
2. Daily closed above 22.8k which was a major resistance area and range high.
3. Now if we look at chart on daily there is no clear resistance till 26.5k-28k
4. On lower time frame the previous zone 23.7k is acting as resistance.
5. For now expect some positive move for some days.
6. If price gets below back in the range again and starts closing below 22.8m then we can look for possible short setups otherwise longs are favourable.
7. Also many people are anticipating a deviation here and shorting. This may not end well. Use proper setups and risk management. Stay Safe 🚨🚨
JPMorgan: Bitcoin miners are protecting profitability by deploying more efficient mining rigs.
Cost of production may be down from $24000 to $13,000.
This is good if true for struggling miners.
#BTC took a strong jump from the major support zone after thr range in price. Also, price breakout the downtrend resistance line which added more bullish sentiment. #BTC nearly came towards the resistance level of $22,750 - $23,000. Expected a rejection from there.
MicroStrategy just bought $10M worth of #BTC
Here are their top 5 biggest purchases:
1) 19,452 - $1.026B
2) 29,646 - $650M
3) 8,957 - $419M
4) 7,002 - $414M
5) 21,454 - $250M
Current Support & Resistance
I am Little Bearish anytime we can break this Support.