#Bitcoin update:

- Trapped in consolidation between $30 and $38k
- Lower highs and supply above c$38k
- Buying interest on the books £30-33k
- Meme consolidation triangle
- 20 wma @ $19.5k
- Accumulation VWAPs in the 20s
- underlying tether fud
- 61.8% retracement c. $22k

- 3 Day predator unconfirmed Orange candle

- Demand at low $30s was tested today and has since bounced & Coinbase led price on the drop

- Market structure is complex - Triangle is misleading

- Lots of orders stacked @ 30-33k.
- Market is fearful in the demand zone as shown by funding; i do not think we are ready to drop quite yet; Expecting longer consolidation.

- New Tether output has been on hold but new money came today

- Tether case request for 30 more days; could be indicative of consolidation
- Breakdown in price deeper than high $20s / lower $30s would IMO most likely require FUD induced event

- If stars align 20 WMA is catching up fast and will probably be resting in with the accumulation VWAPs, 61.8% retracement &d drives into big buy orders.
- Why did we stop @ $40k?
- Miners deep in profit vs. 654 average; time to tp
- SImilar response in other cycles

https://t.co/Iurd68NnZZ
1 Year HODL wave;

- Shows investors holding coins in the cycle dumping to TP.

https://t.co/wCWE23ifhu
MVRV Z Score and SOPR also showing extent of unrealized PL.

https://t.co/FIcsO7I4Cn

https://t.co/rE0THDXgS1
What this tells us is;

- MIners deep in relative profit
- Cyclical Hodlers de-risking
- Market behaviors largely representative of prior cycles.
- WIll be useful to look for dips (SOPR/BE Point)
- Will be useful looking for tops (miners and unrealized PL)
Im sitting on my hands for now, its actually clear to me; clear $38k & turn to support then let's talk bullish; keep it as resistance then Bitcoin is weak & we need to see volume divergences, etc indicating hidden accumulation & dodging FUD.
I welcome both a healthy consolidation establishing $30k as a floor & see any dip into the low-mid $20ks as a cyclical dip opportunity.

Im neutral for now and positioned as such.

Good luck.

More from Bitcoin

$BTC views

Price needs to let volatility wear off before its next big move. Thinking 30K-40K range for the next 1-2 weeks. Then either 50K straight or after piercing 30K and bouncing back above 30K within 1-2 days.


$27500-$27000 is the key area. If price heads back down to 30K, expect 30K to be breached, fall to that area, and bounce back. FAST. All very fast.


What do I do with this information?

Simple.

I'm trading the range against a core position. Buying when price pushes lower, selling when higher. It's like playing the achordeon. There's always air left inside.

Where exactly?

Nowhere.

I don't use limits for that. $BTC is liquid enough to trade at market without issues.

I'm watching PA, volume and rates for buying and euphoria as reflected in rates for reducing.

Decision making is dynamic. Nothing is set in stone. But most likely if price heads back down to 30K 'll be holding off next time. The gameplan is to have ammo to buy the dip (to redeploy). If 30K breaks absolutely no buying until down to 27Ks or back above 30K.

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The name swastika comes from Sanskrit (Devanagari: स्वस्तिक, pronounced: swastik) &denotes “conducive to wellbeing or auspicious”.
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"सु अस्ति येन तत स्वस्तिकं"
Swastik is de symbol through which everything auspicios occurs

Scholars believe word’s origin in Vedas,known as Swasti mantra;

"🕉स्वस्ति ना इन्द्रो वृधश्रवाहा
स्वस्ति ना पूषा विश्ववेदाहा
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The Swastika represents the living creation in the whole Cosmos.


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https://t.co/sLeuV1R2eQ this manner a cross forms in 4 directions in the celestial sky. At centre of this cross is Dhruva(Polestar). In a line from Dhruva, the stars known as Saptarishi can be observed.