This signal is hopefully a positive sign of what's to come.
Looking at BTC daily chart starting from a high in June and a second high in January what was a line of resistance has now become support as of yesterday!
Have a closer look at yesterdays wick, I think this is a thing of beauty and I hope it holds.
Right now the water is a little choppy but I think I just want to close out the month above 41k and things should be good to go.
End of month can be hit or miss and weekend trading can be hit or miss so with the month end coming on Sunday personally I'm probably not going to trade and will just sit back and watch.
I think it's totally possible that price touches down to 40k tomorrow, shake out more hands. If it does, hopefully it comes with a mighty bounce.
BTC Miners Done Selling?
It's no secret that for the last couple months BTC mining pools have been selling but from what we see here it's possible that's over for the time being, consider it profits taken, markets toyed with and more coins accumulated.
https://twitter.com/mskvsk/status/1365557599358320642
- mskvsk
Miner net position now appears to be positive!
How long will this last it's hard to say but I think it will help remove some of the Spot trading jitters in the market going forward.
Hopefully this is a sign of good things to come, not financial advice, be safe out there and remember to take profits.
A bird in hand is better than 4 in the bush!
Ciao for now,
