₿itcoin: Fell To A Key Support... Will It Hold This Time?
Bitcoin: Will This Support Hold?
We saw an 11% slide as Bitcoin broke down today from the $8,000 zone. Miner capitulation and longs finally getting squeezed out as rates finally rolled over. Let's dive into this key support and look at a few big differences on this one.
TIME STAMPS:
1:39 Early 2019 Trendline Finally Gets Tested As Support.
2:29 What Is Confluence?
2:57 - Fibonacci from the swing low to the swing high from $3,200 to $14,000.
3:27 - Fibonacci from $20,000 to $3,200.
3:50 The Channel Support Also Gets Tested As Support
6:39 RSI and Stochastic Indicators
7:50 What is a swing low failure pattern on the RSI?
8:19 Hacking The RSI Guide - http://bit.ly/RSI-Guide
10:44 Key level to watch that could be a key rejection on low time frames for a potential short opportunity
12:29 Bitmex Funding has finally flipped negative where shorts are paying longs to hold the positions open. Very important information that goes along with our support level.
13:49 Difference between fees for perpetual swap contracts and futures contracts.
14:58 - Deribit funding indicator is a rolling rate rather than the every 8 hours that bitmex funding gives. So it is a more up to date funding indicator for more accurate information.
https://www.deribit.com/1.6.0/static/funding_chart.html?instrument=BTC-PERPETUAL
15:54 Real time break down rejection after demonstrating it on the chart
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