Davide
@0xdavide
đClearly many people are looking at key resistances to close the monthly well. BTC is in a descending channel (retracement, NOT Bear Market) and the ideal would be to recover the origin of the dump (about 94k). On the daily we should find the high at about 91k. Broadening the window instead (months), a very bullish indicator is the funding rate which has become negative. âPositive funding rate: "long" pay "short" to keep the position open. â Negative funding rate: "short" pay "long" to keep the position open. The negative funding rate (excess of short positions) indicates a potential upward reversal if the shorts are forced to close their positions. It is also a bottom indicator, however the consolidation/lateral phase can last 1-3 months before the price expands. It is not mathematical but is based on the past (trend).
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