BTC has been moving as expected. Bullish on the daily, and I would'nt be expecting any changes soon.
WHY? According to my BTC INFLOW and OUTFLOW custom indicator we can see a strong bullish trend from June 2023.
After seeing the development of March - October ( Bear Trap ) we can see some key entry levels taken by whale wallets. The areas highlighted green indicate large outflows = accumulations which have occured at key level returns and at typical stop loss levels, the perfect discount zone for whale entrys.
Our current market forecast is typical to see with large inflows at Short Liquidation levels above our previous 70k high, this still indicates a strong bullish momentum as early whale investors are now taking profit for earlier positions potentially entered around the market bottom 16k levels.
I would still be confident in seeing a push well above the 100k level, therefore unless you are brave enough to take scalping short positions I would most certainly hold off shorting the market as you will find yourself being another victim of large moneys liquidation filling.
