As expected, the Full moon in Pisces coincided with a rapid expansion of volatility. And yes, the move did not disappoint.
BTC is currently consolidating on Gann level 41884.
An idea could be to play a potential breakout to the upside if BTC breaks the green trend line. In that case we shall watch the 50-60% retracement area of the previous wave (blue box) if sellers step in there. That would be around 45k roughly.
Today we have two minor but bullish constellations: Sun sextile to natal Venus and Sun trine to natal Jupiter. (Remember that planets do not 'cause' movements, they are just one more layer of confluence to a constellation of factors).
Today and tomorrow are important FED meetings. It is possible that the market has already priced in any statement regarding tapering. That means an “unexpected” relief rally could occur and crypto may correlate with QQQ.
Tether: The company said it does not hold Evergrande debt, but we don’t know how much of their securities are China-related. Should stablecoins be affected, this could be:
- Bearish for BTC due to the loss of trust in the crypto space
- Bullish for BTC because stablecoin holdings can only be converted back into crypto, unless they are withdrawn as fiat currency.
We will see how this unfolds. I recommend Steven Van Metre’s coverage on Evergrande on YouTube. Debt default crises need to be watched carefully because they like to spiral out of control.
______________
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand (momentum), and to use options premium decay for consistent income when markets may contract (range).
Get a 14 Days Free Trial: constellations.trade
Open an account here if you'd like to support my work:
Deribit - Trade Bitcoin option premium decay strategies here:
deribit.com/reg-14912.6680
Binance - 10% off trading fees with this link:
accounts.binance.me/en/register?ref=LLBB97HL
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
These abbreviations in the chart are ideas provided as educational information and do not constitute financial advice.
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
BTC is currently consolidating on Gann level 41884.
An idea could be to play a potential breakout to the upside if BTC breaks the green trend line. In that case we shall watch the 50-60% retracement area of the previous wave (blue box) if sellers step in there. That would be around 45k roughly.
Today we have two minor but bullish constellations: Sun sextile to natal Venus and Sun trine to natal Jupiter. (Remember that planets do not 'cause' movements, they are just one more layer of confluence to a constellation of factors).
Today and tomorrow are important FED meetings. It is possible that the market has already priced in any statement regarding tapering. That means an “unexpected” relief rally could occur and crypto may correlate with QQQ.
Tether: The company said it does not hold Evergrande debt, but we don’t know how much of their securities are China-related. Should stablecoins be affected, this could be:
- Bearish for BTC due to the loss of trust in the crypto space
- Bullish for BTC because stablecoin holdings can only be converted back into crypto, unless they are withdrawn as fiat currency.
We will see how this unfolds. I recommend Steven Van Metre’s coverage on Evergrande on YouTube. Debt default crises need to be watched carefully because they like to spiral out of control.
______________
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand (momentum), and to use options premium decay for consistent income when markets may contract (range).
Get a 14 Days Free Trial: constellations.trade
Open an account here if you'd like to support my work:
Deribit - Trade Bitcoin option premium decay strategies here:
deribit.com/reg-14912.6680
Binance - 10% off trading fees with this link:
accounts.binance.me/en/register?ref=LLBB97HL
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
These abbreviations in the chart are ideas provided as educational information and do not constitute financial advice.
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.