PrssXBT

Crypto Trader
NFA | DYOR
Stay humble (always)

[PrssXBT @prssXBT]

@cryptorover yeah, several signals lining up for that $68K - 70K pullback imo

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@CryptoTony__ that's part of the game🫡

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@TedPillows imo we are most likely losing this level

https://t.co/zDaIzhQLfj

[PrssXBT @prssXBT]

bitcoin:native update:

Few days ago i flagged this $81k - 85k area as a strong rejection area, expecting a pullback to $72k first then my main zone lower at $68k - 70k before any real continuation higher.

Price is chopping at this resistance so far, getting rejected every time it tries to break through.

Several signals are still lining up with the original thesis.

Liquidations changed since my last update, longs now down to $5.97B below around $69.5k, shorts down to $2.12B above around $89k. Both sides have thinned out but longs dropped less in %. The imbalance is still there but just smaller than before.

Spot's also started net selling into this move while perps are doing the buying which tells you this push is becoming more leverage-driven than real demand. Bearish RSI divergence showing up as well.

All of that adds up to my chart analysis: as long as we are staying below this key level, we are going down from here.

If we flip it that's another scenario playing out and i'll post my analysis on it.

[PrssXBT @prssXBT]

bitcoin:native update:

Few days ago i flagged this $81k - 85k area as a strong rejection area, expecting a pullback to $72k first then my main zone lower at $68k - 70k before any real continuation higher.

Price is chopping at this resistance so far, getting rejected every time it tries to break through.

Several signals are still lining up with the original thesis.

Liquidations changed since my last update, longs now down to $5.97B below around $69.5k, shorts down to $2.12B above around $89k. Both sides have thinned out but longs dropped less in %. The imbalance is still there but just smaller than before.

Spot's also started net selling into this move while perps are doing the buying which tells you this push is becoming more leverage-driven than real demand. Bearish RSI divergence showing up as well.

All of that adds up to my chart analysis: as long as we are staying below this key level, we are going down from here.

If we flip it that's another scenario playing out and i'll post my analysis on it.

[PrssXBT @prssXBT]

bitcoin:native EXCHANGE FLOWS - AUG 27 🧵

IN: 29.3K BTC
OUT: 34.8K BTC
NET: -5.44K BTC

5th consecutive day of net outflows.

Still more BTC flowing out than in. Outflows remain elevated.

Let’s see if this continues.

[PrssXBT @prssXBT]

$BTC EXCHANGE FLOWS - AUG 26 🧵

IN: 23.0K BTC
OUT: 30.0K BTC
NET: -6.94K BTC

4th consecutive day of net outflows.

Outflows picked up significantly compared to the day before.

Let’s see if this continues.

[PrssXBT @prssXBT]

@JesseOlson same, expecting a bounce around $72K first then $68K - 70K for the deeper pullback

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@cryptosymbiiote less likely to flip $83K rn. too many leveraged longs piling up while spot is selling. $68K - 70K comes first imo

[PrssXBT @prssXBT]

@MylesGinvest exactly, perp-driven moveeee

https://t.co/8MPJTilVCI

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$BTC

Spot is selling into this pump while perps are doing the buying.

Pretty clear divergence here

The move is more perp-driven than spot right now.

Not the cleanest setup to be chasing longs here.

Still expecting a small bounce around $72K then a deeper pullback into $68K - 70K before the next move higher.

[PrssXBT @prssXBT]

@TheCryptoLemon spot selling while perps buy

https://t.co/8MPJTilVCI

[PrssXBT @prssXBT]

$BTC

Spot is selling into this pump while perps are doing the buying.

Pretty clear divergence here

The move is more perp-driven than spot right now.

Not the cleanest setup to be chasing longs here.

Still expecting a small bounce around $72K then a deeper pullback into $68K - 70K before the next move higher.

[PrssXBT @prssXBT]

$BTC

Spot is selling into this pump while perps are doing the buying.

Pretty clear divergence here

The move is more perp-driven than spot right now.

Not the cleanest setup to be chasing longs here.

Still expecting a small bounce around $72K then a deeper pullback into $68K - 70K before the next move higher.

[PrssXBT @prssXBT]

@Crypto__Haris same, small bounce around $72K then a continuation pullback into $68K - 70K

[PrssXBT @prssXBT]

@Jackthetrad mostly whales moving to cold storage imo, that's usually the more common

[PrssXBT @prssXBT]

$BTC EXCHANGE FLOWS - AUG 26 🧵

IN: 23.0K BTC
OUT: 30.0K BTC
NET: -6.94K BTC

4th consecutive day of net outflows.

Outflows picked up significantly compared to the day before.

Let’s see if this continues.

[PrssXBT @prssXBT]

$BTC EXCHANGE FLOWS - AUG 25 🧵

IN: 18.8K BTC
OUT: 19.9K BTC
NET: -1.08K BTC

Another day of net outflows but smaller than the yesterday one.

Let’s see if this continues.

[PrssXBT @prssXBT]

@TedPillows I still think $68K - 70K gets tested before the next leg higher

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@KillaXBT I’d still expect a $68K - 70K pullback before we go way higher.

[PrssXBT @prssXBT]

@CryptoTony__ Same take here 🤝

[PrssXBT @prssXBT]

@MuroCrypto yeah watching $72K first but $68K - 70K is the main zone to look at for continuation imo

[PrssXBT @prssXBT]

@CryptoTony__ looking for $2,100 for the main pullback 👀

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@Crypto_R0D yea i think the same, a deeper retracement before higher would be ideal

https://t.co/eKej1IMdjx

[PrssXBT @prssXBT]

$ETH pretty much the same read as $BTC

Watching for a pullback into this gray zone, $2,060-2,120, before continuing higher

If it skips that and keeps running instead, i'd be watching $2,800 as the next stop.

Either way, that's the level i keep an eye on.

[PrssXBT @prssXBT]

litecoin:native

Watching for a continuation pullback into the $47.6-48.6 demand and support zone