$BTC - #Bitcoin-Daily-Update #16 - Day Trader Explains

Hello Lads and Ladies,
Welcome back to TJ's TA sessions.- The Daily BTC Update #16

What happened in the last 24h?
In the last 24h we saw first only little moement, yet at the end we saw a nice dump which is in my eyes a simple re-test of the descending support of the channel we are currently in. Apart from that, we saw that Ethereum took a massive dump yet other altcoins just went down to previous support.

Most important S/R right now?
2939 3030 3100 3160 3200 3250 3333 3434 3550 3666 3730 3812 3929 4077 4123 4169 4382 4658

Gained lost %?
Since the opening of the new daily, we wicked down -3.7%, but gained 0.78%

MarketCap?
Total MarektCap is 117 Billion - -5 -
Of which BTC is 62 Billion - -2 -
With a Dominance of 52.9%
- gained 0.7% -

Volatility?
The 30d avg Volatility is 4.47%
- lost -0.11 -

Shorts/Longs?
Shorts - 23.5k (pretty low)
Longs - 31.6k (high but solid)
- S + 0.2k/ L -0.2k -

Funding?
The last 3 funding rates added -> -0,0876%
- -0.22 -

Momentum?
The TJ-Momentum is showing us a red cloud again, which is indicating us a drag and pull down. This might be important for the next days.

Volume?
Even though we saw a 3.7% dump on Bitcoin, we are still seeing very little volume. The volume is not exceeding the MA and by that not confirming the downtrend.

TJ-MF/TJ-Stoch levels?
TJ-MoneyFlow - Today we are seeing a green money flow indicating us a bullish sign. Just as mentioned in the volume analysis, the market is still not shorting and no really big amounts of shorts are being opened. Finally we are seeing a nice uptrending green cloud on the money flow.
TJ-Stoch
K(blue) - 0.9
D(orange) - 50.8

Divergences?
We are seeing a slight divergence between the longs and shorts in comparison to the chart. AND we are seeing an uptrend on the TJ-Moneyflow which is an important divergence against the down trending market structure.

Market Structure?
So since we have almost no movement on this weekend and started with a significant dump, it is looking like a possible inverted BART. Nevertheless, we are as well seeing a possible bear-flag. Looking at historical data, dumping and afterwards having days of no movement has resulted almost every time in a small to mid pump on the next days. Today we simply re-tested the channel support and did not close below it.

Overall?
Overall we are still seeing a lot of mixed signs and finding ourselves in a very cringe area to be at. We are hitting on support and see buyers holding the price above it, not letting it cross nor close below the most important supports. The channel support has been confirmed once more, which is why a possible safe and small long position might be considered by the market. Hence, the little to no change in shorts and longs today. Nevertheless, the possible long position should be very small and rather waiting for a clear bullish confirmation even if missing out a few percent on the way there.

What do we want?
We want this day to end. Actually we want a close above 3550, yet a close above 3672 would be the best case scenario. We as well want to see a bullish confirmation before entering a significant long position again.

Position?
keeping the yesterday mentioned low leverage, low margin long. STOP at 3430

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Cheers, TJ