The Bitcoin Seer on Nostr: ...
7/8/2024
Overnight we saw Bitcon drop down to the mid $54k area. A great reaction so far but no surprise to see the resistance is still $58.2k (Prev Month Low & Daily EMA200.) As this level was such a long term support it is normal to see it flip into strong resistance. A daily close above $58.2k and I will have more confidence of the bottom being in.
If we continue to reject, not only have we got a significant block of orders at $45k, but there are also increasing bids in the $40k area. Although a move this low seems unlikely, we cannot ignore growing liquidity there.
A great start to the week, let's make it another big one!
Published at
2024-07-08 10:44:07Event JSON
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"pubkey": "1af1bf41e89ec41167dece4cb2148fc6173a0593d2b8b611bc4778a79983c379",
"created_at": 1720435447,
"kind": 1,
"tags": [
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],
[
"imeta",
"url https://image.nostr.build/3253eafce30d832161caa4dc8ef60e05f2896cd9334e0379bece4ee90c107a47.jpg",
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"alt Verifiable file url",
"x c6a36f4c3aae8c579e0b1ea74bd193583586941c1e19969857a1d331f8c79815",
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"ox 3253eafce30d832161caa4dc8ef60e05f2896cd9334e0379bece4ee90c107a47"
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"content": "\nhttps://image.nostr.build/3253eafce30d832161caa4dc8ef60e05f2896cd9334e0379bece4ee90c107a47.jpg\n7/8/2024\n\nOvernight we saw Bitcon drop down to the mid $54k area. A great reaction so far but no surprise to see the resistance is still $58.2k (Prev Month Low \u0026 Daily EMA200.) As this level was such a long term support it is normal to see it flip into strong resistance. A daily close above $58.2k and I will have more confidence of the bottom being in.\n\nIf we continue to reject, not only have we got a significant block of orders at $45k, but there are also increasing bids in the $40k area. Although a move this low seems unlikely, we cannot ignore growing liquidity there.\n\nA great start to the week, let's make it another big one!",
"sig": "190359bdb579d665e3cf1da8fd1f6614d5ea7bdb04228e9c9f7e49b460a87ffa391c9120dd82b635268af68dd8ea30818247eb2e9da9dd5862e063b6ec7fbb08"
}
