We’ll look at Bitcoin’s future prospects and charts for the third week of May today! ※ My own viewpoint could vary from reality.
A Bybit main-bong chart is shown above. Bitcoin has been decreasing for seven weeks in a row, as you can see. Last week, the Luna-Tera shock resulted in a massive trade volume and a price drop. It seems to be more difficult than a comparable fall last year. This week, I don’t believe things will get much easier.
The ratio of long and short positions over the first 24 hours of each exchange is shown above. It displays a 50% return, but it’s around $1,700 less than the current market price at the time of writing. Due to interest rate increases, the Russia-Ukraine conflict, and the Luna-Tera shock, I believe this condition will persist for some time, and I believe it will collapse as a selling trend every time it rises.
A Bybit Ilbong chart is shown above. As you can see from the chart above, it’s been on a downward trend since 48K and is now on the box’s side. I believe the box will move sideways this week, and long positions must first pierce 32K, which is a strong buying trend with a huge trading volume, and if it goes sideways around 32K, it will most likely fall again. At this point, I believe the short position will alter depending on the resistance at 32K. For a few days, I believe it will be a downhill spiral.