TLDR Bitcoin Chart Analysis — Crypto Kai (29/06/2021)

  • Market sentiment improves as miner sell pressure starts to dwindle and regulatory FUD quietens
  • Open interest across the market is still over 50% down from it’s peak as price continues to range within the low 30K region.
  • DeFi and NFT sectors continue to publish bullish outlooks with Jay-Z diving into Crypto Punks and Compound Treasury being announced, bridging TradeFi and DeFi together.
  • Weekly BTC (left) following the range low sweep and spring we showed on last weeks chart we’re now consolidating comfortably back in the weekly range for the 6th week.
  • Daily BTC (right) still following our trajectory set out, continuation to range high would be the bullish case to indicate a macro accumulation (wycoff) pattern which would likely last months. Bearish signs I would be looking at for downside continuation would be a breakdown of 34K support (daily close).

Bitcoin (BTCUSD) | Weekly — Daily

BTCUSD (29/06/2021)

Last weeks reference

BTCUSD (23/06/2021)

Check us out!

Explore the Crypto Kai Dojo, our free crypto ecosystem compendium and enjoy finding the best educative resources in the space from popular podcasts and insightful newsletters to technical chart trading and on-chain fundamental analysis tools.

Check out our YouTube channel where we journal our investing journey, on-chain using the popular DeFi project Set Protocol.

--

--

--

Founder @ Galleon | Advisor @ Set Protocol

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Improvements proposed to the 1inch governance model

Improvements proposed to the 1inch governance model

PROCEDURES ON HOW TO BUY $TKM ON HOO EXCHANGE

Trending on #LunarCrush:

Cardano Network Records Significant Growth In Number Of Plutus-Based Smart Contracts

A Guide to Crypto Mining

The Rules To Go From $0 To $100K in 2022

The Rules To Go From $0 To $100K in 2022

Top Companies that Accept Cryptocurrencies as Form of Payment

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Andrew Wilkinson

Andrew Wilkinson

Founder @ Galleon | Advisor @ Set Protocol

More from Medium

BTC Analysis Using Options Flow

btc bitcoin crypto cryptocurrency put call options cryptotwitter cryptonews cryptocurrencies btcusd btcusdt eth ethereum blockchain onchain CryptoQuant barovirtual.io Baro Virtual

Kollider Lite: Trading is Easy Again

DeFi Deep Dive

Crypto price thankful for the Fed