$BTC Sunday update:
This is going to be a heavy update.
So let's dive into it with a brief look at SPX and other assets... to try to understand where the market is heading to.
Will the FTX situation affect the market?
This is going to be a heavy update.
So let's dive into it with a brief look at SPX and other assets... to try to understand where the market is heading to.
Will the FTX situation affect the market?
The recent events in crypto make $BTC look more like a risk asset than a store of value asset, as confidence is one of the characteristics of a store of value asset.
Some money might start to flow into store of value assets like $GOLD i.e.
Some money might start to flow into store of value assets like $GOLD i.e.
This is another thing I'm not liking:
I posted a $SPX chart some days ago with the 2 liquidity pools (LP) and a potential scenario.
Let's see if it follows the plan, but so far it is recovering the LP to the upside first 👀👍
Remember that $BTC tends to follow $SPX
I posted a $SPX chart some days ago with the 2 liquidity pools (LP) and a potential scenario.
Let's see if it follows the plan, but so far it is recovering the LP to the upside first 👀👍
Remember that $BTC tends to follow $SPX
There are some good news though.
$BTC hit the main liquidation level in high time frame at $17.4k and filled the wick at $16.2k (1W) chart.
There is no many more retail liquidations below really.
But there is still an imabalance around $14k.
$BTC hit the main liquidation level in high time frame at $17.4k and filled the wick at $16.2k (1W) chart.
There is no many more retail liquidations below really.
But there is still an imabalance around $14k.
Ideally, I would like to see a range between $16k and $18k for 1-2 weeks. That's when CT will be impatient and call this a bottom.
Then a dump to $14k to fill the liquidity pool below. But time will tell...
Feel free to share your analysis/thoughts below 👌
Then a dump to $14k to fill the liquidity pool below. But time will tell...
Feel free to share your analysis/thoughts below 👌
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