$USELESS For a strong bullish argument: I want to see a deviation here followed by a reclaim of ~$213m market cap. h4 looks encouraging. Price is consolidating just below the lows and starting to attempt a reclaim. If this is *the bounce* it'll be from here imo.
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you can find me staying in my lane tomorrow I’ve never needed macro events (Jerome Powell) to tell me whether the market was trending up or down, so I’ve never allowed myself to care market will guide me.
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$BTC has returned to the previous 4h demand zone. As mentioned in my earlier tweet, the liquidity distribution in the futures market is pretty unfavorable for bulls, which means support in this demand zone is on shaky ground. Looking at the spot premium index, we can see that since the correction started on August 18th, the spot premium has been dropping steadily. This suggests that the first half of the retrace (after the recent high) was mainly driven by futures longs closing out, while the second half was due to spot selling pressure.
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