BTCUSD Weekly Update
We need to break above 44-46 to go higher.
● Below 40K we nuke to 38 and potentially flush to 34K.
● Whales are de-risking here, they are still net-long but potentially sell the news event.
● Alts going up where BTC is ranging is not healthy.
● If BTC goes down, Alts could nuke, so make sure to take profits on Alts because there is a good chance they go lower.
As mentioned I am cautious about January but bullish 2024 Crypto. So remember markets can experience strong flushes in bull markets and your alts can go 50% down in a day.
Welcome to the last cycle, good luck.
● Below 40K we nuke to 38 and potentially flush to 34K.
● Whales are de-risking here, they are still net-long but potentially sell the news event.
● Alts going up where BTC is ranging is not healthy.
● If BTC goes down, Alts could nuke, so make sure to take profits on Alts because there is a good chance they go lower.
As mentioned I am cautious about January but bullish 2024 Crypto. So remember markets can experience strong flushes in bull markets and your alts can go 50% down in a day.
Welcome to the last cycle, good luck.
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.