Bitcoin long liquidation dominance has hit 69%, the highest level since the May 2021 deleveraging event.

This means that the majority of liquidations in futures markets over recent weeks were long traders attempting to catch the knife.

Breaking:- BITFARMS BUYS $40M WORTH OF BITCOIN

https://www.trustnodes.com/2022/01/10/bitfarms-buys-40-million-bitcoin

#BTC
The largest option expirations continue to be 14Jan22 and 28Jan22. The max-pain is located at 44k and 50k, respectively. In the last 24 hours, the calls prevail. This indicates a possible uptrend for the coming weeks.

Top traded instruments are $50k Calls for 28Jan22

BTC update in 4 hours timeframe:

We have seen some positive moves coming lately on BTC. This move is certainly creating a bullish vibe in everyone's mindset. It will be great if BTC makes a bullish move but we can't make fake promises.

So, here's a straight talk according to our T.A.
BTC bounced back from the support level of $41k which we talked about in our previous update. Currently, it is at $42700 which is a good bounce so far. We all are expecting BTC to bounce further or rally higher but we have resistance at the $43500 level. That's the area where we also have the upper trendline. This could be a critical area for BTC and to continue its bullish move, BTC must break above it.

If you have gone through our 8 hours BTC update then you will surely notice that so far it is following the path. Now, all we need is a breakout above this resistance level to continue the bullish move.

Note: If BTC fails to break this resistance level then BTC will possibly drop down to retest the $42k or $41k level.

Miners are accumulating #Bitcoin at the fastest rate since May 2021

BTC quick update:

BTC broke above the resistance and it looks good. It is important for BTC to stay above the resistance level even after the daily close. If that happens then we can expect BTC to reach a higher level around $44k to $45k.
At $45700, we have another resistance level which is important for BTC to break.

So far BTC is performing better then the last few days. Let's see what comes next.

Web3 developers are at an all-time high and growing faster than ever

BTC update:

BTC broke out as expected and currently retesting. The retest level is perfect here and we can expect something positive.
We can see that BTC is trying to bounce back after the retest and if BTC succeed in doing so then $45k could be the next level.

We are going long here on BTC with a close SL at $41500. Target will be close to $45k (5% to 6%).

Remember: Do not use high leverage. We know that high leverage trading gives huge gains but it drains away from your portfolio as well if not traded wisely.

Stay tuned.

BREAKING: Rio De Janeiro Mayor announces that the city will put 1% of its treasury into bitcoin.

The announcement was made at Rio Innovation Week by Mayor @eduardopaes during a chat with Miami Mayor @FrancisSuarez.

BTC update:- There is nothing much to update here. BTC is still at the same zone. Holding $42k support very nicely. Soon we see a good bounce in BTC. You just need to have some patience. All we need to break $45k-$46k resistance for further bullish movement.
We are still holding our BTC long position with strict SL of $41,500.

Stay tuned.

Be careful with your trade, guys.

This is the USDT Dominance chart in 4 hours timeframe. As you can see that the USDT.D is likely to retest 3.66% level after which it may bounce back. Currently, the USDT dominance is at 3.8% level and if the dominance drop to 3.66% then it'll give some room for the altcoins to grow.

This growth in altcoins won't be for long if USDT.D bounces back from the 3.66% level. If the dominance drops below the 3.66% then altcoins will pump strong. So, keep an eye over it and trade safe.

Note: It is not necessary that the dominance will exactly bounce back from the said level. If it has to bounce then it can bounce anytime.

BTC update:

BTC is in a do-or-die situation right now. It's been more than 11 days and still, BTC has not come to any conclusion. All we can do is wait for the confirmation.

As you can see in the chart, BTC breaking above the $44k will surely lift the price and the market but a drop on the other hand will further disturb the market in a negative way..

We have been saying this from before that $40k to $41k holds strong support for BTC and until and unless we are above these levels, we have a good chance to bounce back. It must hold this level in order to maintain the balance.

So, keep an eye on these important levels.

We will get back with more important updates.

Bitcoin onchain entities are clusters of wallets which have the same owner.

The proportion of entities with an average coin balance in profit, has now fallen to 71.8%.

Historically, this level of poor profitability has occurred in the later stages of bearish trends.

BTC update in 4 hours timeframe:

BTC bounced but got rejected from the 21 MA. It is back to the support we were talking about in our previous update. BTC must bounce back from here cause if it fails to do so then a drop towards $40k is imminent.
If you pay attention to this chart then you can see that in the past when BTC touched the lower trendline, it had a multiple retest and then a rally towards the upper trendline. Well, we may have the same scenario here (a multiple retest). If not then a quick drop and then bounce back.

We will update more on this so stay tuned.

Reserve Risk quantifies HODLer conviction relative to price. Signaling a buy for BTC.

Reserve Risk is a metric which is a cyclical market indicator which aims to quantify the risk-reward of allocating to bitcoin based on the conviction of long-term holders. Simply, Reserve Risk is a ratio between the current price of bitcoin and the conviction of long-term holders. The current price can be thought of as the incentive to sell, and the conviction of long-term holders/investors can be quantified as the opportunity cost of not selling.

BTC update:

We hope you followed our previous update. BTC bounced back exactly from the support level we drew in our previous update. Currently, it is at the resistance and to rally towards the $45k level, it must break above it.
BTC has rejected the drop towards $40k and now it is trying to make a bullish move.

Stay tuned for more updates.

BTC update in 12 hours timeframe:

BTC did make a bullish move but it all turns out to be fake and sucked many traders’ hard earn portfolios. This 3%-4% pump was trapped inviting many noobs to enter and then a 12% drop to drain them.
We hope and believe that our members were wise enough not to enter into any trades. We have been updating you all about the market and we keep indicating the confirmation point but so far BTC did not hit any of our confirmation levels. Of course, it bounced back, showed some positive move but it never came to a certain confirmation.

Talking about the current scenario, BTC is holding support at $37900 which is crucial and BTC must hold this level. If not then things are dead.

Keep an eye on the $37900-$38000 support level. We will update more on it so stay tuned.

Bitcoin investors have realised large losses during this sell-off, with net daily losses between $600M and $875M/day.

Whilst these are significant sums, they remain small relative to $1B+ losses realised during the May-June capitulation, and the deleveraging of 4-December

- Glassnode

BTC Open Interest has finally been reset to the lowest level since the end of Sept 2021, before Uptober, no more greed.

Should expect lesser volatility from here in the immediate future.

It seems certain OI levels tend to be pretty predictive of potential corrections.

Bitcoin is down ~50% from the November ATH, making this the second deepest drawdown in this halving cycle.

Corrections in 2017, and early-2021 were much shallower between 20% and 40%, whilst July 2021 reached a drawdown of -54%.

TOTAL MARKET CAP UPDATE:- BTC continuously dropping from last few days and right now it is trading above $35k and made a wick to $33k. As you know we are not providing any altcoins setup the reason is market is not good for trading. Always trade when you are fully confirmed and sometimes no trading is also equivalent to trading. Making money is important but to secure your hard earned money is more important.

Now let's get to the chart. According to the chart, two possible scenarios are there.

S1:- We have a first important support around $800B. Total market cap should bounce from here.

S2:- If scenario1 is not played out then our next and last support around $600-$650B. Total market cap must bounce from there.

Now we have to just wait and wait for the confirmation.

Stay tuned and pin our channel at top for more updates.