Notcoin showed strong signs of building a sustainable uptrend but the trajectory of Bitcoin might stall the bulls' efforts.
Even though the price action and volume were firmly bullish, the spot CVD has not climbed noticeably from its slump in June.The OI increase showed speculators are eager to go long, but this might also set up ideal conditions for a long squeezesaw a 62% rally over the weekend after the 40% drop over the past week. The price of Notcoin is now higher than it was on Monday, the 1st of July.
The final one was defended over the last few days even though the market-wide sentiment was bearish. The increased trading volume during the price bounce was also encouraging. This bounce saw Notcoin break the bearish market structure and also the trendline resistance. The Open Interest rose considerably to indicate short-term bullish sentiment. However, the funding rate was barely above zero.
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