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Bitcoin Price Analysis: Today’s Market Opened With A Green Day After Weekend Sell-Off

1. Today's Trading Outlook

BTC / Bitcoin Chart ✅ DXY / US Dollar Index Chart ✅ Flash Services PMI News ✅ Crypto Money Flow ✅ Altcoins ✅ Conclusion ✅ Crypto News

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2. Bitcoin Chart:

Recap: Price went down and was glued to the purple line, then went sideways over the weekend. On sunday price went up quickly due to a breakout move by retail traders, this was a liquidation move and the price went back to the blue line.


3. BTC Chart:

1. Price went back down to the blue line. This is acting as a median level before the news release! 2. Expecting BTC to go down and below the blue rectangle after the news release for the Flash Services PMI data. In a few hours expecting price to be below 19k.

4. DXY chart:

Price bounced off the major support today (black line).

Expecting price to continue to the upside due to the Flash Services PMI data being good for the US dollar.

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5. Flash Services PMI News:

Actual: In 2 hours. Forecast: 49.6 Previous month: 49.3

Expecting the data to be better than last month and to be above forecast.

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6. How to read Flash Services PMI results:

📉 Above forecast good for DXY / US dollar and bad for cryptocurrency such as Bitcoin and Altcoins

📈 Below forecast bad for DXY / US dollar and good for cryptocurrency such as Bitcoin and Alts

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7. Today's Crypto Money Flow:


Stable to BTC 3.2B Stable to ETH 890.6M Stable to BNB 9.2M Stable to MATIC 5.1M

Rest too small to mention.


BTC to Stable 1.1B ETH to Stable 511.9M

ETH to BETH 3.4M

Rest too small to mention.

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8. Altcoins

Mostly a green day so far with the following tokens leading the way:

NULS +60.7% gains

Tokens with gains between 8 - 22%


Rest of Alts gains 1 - 5%

Mostly a quiet day, a few altcoins being pumped and dumped.

9. Conclusion:

Expecting the Flash Services PMI data to be good for the US dollar and bad for the CryptoMarket.

Alts are making small gains mostly with a few pump and dumps currently.

Altcoins will lose their gains in the coming hours.

Bearish day expected.

10. CryptoNews

🎃 Canaan Technology Launches a New Generation of Bitcoin Miners Avalon Made A13 Series.

🎃 Russian parliament rejects crypto payment mining bill, new draft expected.

11. News (cont)

🎃 British and French law enforcement agencies have launched an investigation into the NFT market Sorare.

🎃 Chiliz Announces the Commencement of Phase 4 of the Scoville Testnet.

🎃 Anchorage launches cryptocurrency integration platform.

12. News (cont)

🎃 Bitcoin and gold price correlation is approaching all-time highs.

🎃 Switzerland to open first BoringApe BAYC-themed cafe.

🎃 Safe will start migrating Ethereum mainnet trading services today

13. News (cont)

🎃 Bitcoin Futures total amount of open positions fell to 14,228 contracts

🎃 The SEC and Ripple respectively ask the court to dismiss the other partys motion for summary judgment.

This post is based on this twitter thread.


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