The last chance to get on board?

CN
1 year ago

Final Boarding Opportunity?

Bulls are afraid of missing out on the next rally, while bears fear missing a suitable shorting opportunity.

So, what signals can the market give us?

My trading system is based on volume, price, and structure.

Let's take a look at the current volume of BTC on various exchanges from a daily chart perspective.

The first image shows the volume and price situation for the BTC spot trading pair on Binance.

Image 1: Not only is there a divergence in volume and price, but the MACD also shows a divergence. (Ignore the bearish crossover.)

Since the breakout above 32K, the volume of BTC has been consistently decreasing while rising.

Binance BTC Spot Trading Volume and Price

The second image shows the volume and price situation for the BTC spot trading pair on Coinbase.

Similarly, there is a divergence in volume and price, as well as a MACD divergence.

Coinbase BTC Spot Trading Volume and Price

Finally, let's look at the third image, which depicts the trading volume situation for the BTC/USDT.P Binance futures trading pair.

Once again, there is a divergence in volume and price, as well as a MACD divergence.

Binance BTC/USDT.P Futures Trading Volume

Lastly, in the fourth image, at the interim top, there is often a bearish engulfing pattern, followed by a bullish engulfing pattern, then another bearish engulfing pattern, and so on, causing market participants to constantly doubt themselves.

In conclusion,

Summary

In my opinion, I lean towards a bearish view or a larger retracement range, revisiting 25K. Even if 32K is an absolute support level, there will likely be multiple tests. For long-term holders, there is no rush at all. A massive pump is not necessarily just an upward one; it could also be a downward one. 😂

Follow Chi-ge for more trading insights. #BTC #ETH #etf

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