Bitcoin has followed the ascending scenario from yesterday's article, but has not yet reached the le
BTC has overcome the resistance that I indicated in yesterday's article as the main one before the upward movement. Confirmation has not taken place yet, but Bitcoin is close to doing it. On the other hand, the price is kept at a bearish level. Therefore, it is important to know how to enter a trade correctly so as not to catch negative growth.
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On the two-hour chart, we see that the price has overcome the resistance level, overcoming which entails a high probability of an increase in the asset price.
We also see that the price is trading the zone between our main weekly level of $22887 and orange $22600. So far, everything is going to confirm the penetration of the resistance, which will take place over the EMA Ribbon moving grid. Remember that the grid breaks through only by impulses, so if the price gets into it, then you will need to closely monitor the seller.
On the MACD histogram, we have a hidden bullish signal with a price chart, which I am just waiting for. I have a limit order to confirm the upward movement and is waiting for execution.
I drew this scenario yesterday for subscribers of the closed tg channel. As we can see, the situation is still developing clearly according to this scenario. It remains to reach the zone confirming the further upward movement. I repeat, this will happen if you leave the EMA Ribbon on the current chart.
Yes, I prefer conservative trade entries.
The funding is negative. This suggests that shortists use excessive leverage and pay a premium to shortists every 8 hours to hold their positions and balance the margin market.
Historically negative funding indicates the probability of local growth of the asset.
Only the increased percentage of longs on ratio is confusing. But based on experience, I will say that bullish convergence on the chart begins to work out first, and only then does liquidity begin to move on the ratio.
Therefore, we are waiting for the continuation of the movement.
Disclaimer: not financial advice.
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