Crypto Australia🇭🇲🇭🇲

#Bitcoin started the small range just below the strong resistance zone and in Hourly TF, it forming a Bullish Pennant Pattern, which is a bullish continuation pattern. But incase it broke below then we can see a downtrend move which will correct the market. By Crypto Australia

The following chart displays the mean and ±1 std bands for the Unrealized Profit indicator, revealing the average profit stored in the market for every bitcoin. Currently at an all-time mean level of 49%, this metric hasn't reached the high levels seen in the euphoria phase of past bull markets, such as 60%+. By Crypto Australia

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#BTC.D broke the resistance and given a close above it Index made a immediate retest f the zone as support and rejecting. Well, We already the impact on the market over that, and if #BTC settles down here then we can see more fluctuations in alts. Right now, its better to keep the position with trailing stops. By Crypto Australia

📈 Сoinglass: Open interest in BTC futures on CME is approaching a historical maximum! (levels at the end of 2021) By Crypto Australia

#Bitcoin continues its massive pump to the upside and hit the next strong resistance area of $44,000 - $45,000. Price again reacted to the zone and might pullback a bit. Well, in this case its completely bullish. Well, in Daily TF, it might pullback to some expect around $42,000, which will be a healthy retracement. By Crypto Australia

🤔 Willy Woo: “The SEC will likely approve a spot Bitcoin ETF soon. When the first gold ETF was listed, it grew for 8 years without a single year of decline (from 2005 to 2012).” By Crypto Australia

💰Profit fixations are observed in the crypto market, mainly among short-term Bitcoin holders. Over the past day alone, $1.5 billion in profit was recorded, and over the last four days – as much as $4.5 billion. These are the largest profit-taking since November 2021, when Bitcoin reached its all-time high. 🪙Despite these significant sales volumes, it is surprising that the price of BTC is holding above the key psychological level of $40,000. This demonstrates the stability and resilience of the market despite large movements of funds. ✨Also, one of the key points is the achievement of a negative correlation between Bitcoin and traditional financial markets, which highlights the transformation of Bitcoin from “tech stocks” to “digital gold,” as the CEO of CryptoQuant put it. By Crypto Australia