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Binance Update: Price Analysis (BTC Downturn)

BTC liquidation profiles have changed since earlier in the day UTC (images 3 + 4). Now barely any high lev shorts, while more high lev longs down to 16.2K. Overall, the distribution looks bearish🤔

Rest of analysis in thread👇🏼

BTC Binance shorts approaching longs but with low lev + positive funding rate; 1h open interest rising....

BTC inflow daily M7 with red block, while 4h + 1h reacting to price movement but relatively neutral + exchange balance live turning down. Seems to be preparing for next down trend, but could need catalyst higher first....

BTC broke out of bearish descending triangle but struggling at resistance, while rising wedge makes the struggle look worse; wicks possible. Meanwhile 2h advanced stochastic approaching extremes with volatility percentile rising + 4h turned up from weaker middle range....

BTC MACD poised for extension of bearish divergence or failed attempt at making a higher high in price while Bollinger Bands are expanding from extreme percentile lows as shown by BBWP on 2h + 4h....

BTC 4h RSI developing bearish divergence, while 2h still clean, but likely to generate it with local high if price doesn't extend well above rising wedge formations soon, which seems unlikely given other data above....

Ugly 2h close to the day🤔 with advanced stochastic pivot rising much closer to price on 2h + 4h....

This post is based on this twitter thread.

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