ridethepig | BTC Worm In The Apple
Updated
BTC - Choppy trading persists - a touch of excitement as we break back above the prior downward sloping trendline from last week, however the market is mindful that $ shorts are becoming more widely expressed and I am awaiting the spillover into BTC via the next key risk driver.
Expecting BTC dips to continue to be met with demand/covering interest and a close above 7250 is needed for us to get excited. Largely ignoring broader cryptocurrency gyrations and heavily XBTUSD, EOSUSD, ETHUSD and XRPUSD influenced, intraday. For the execution here we have infamous Worm In The Apple alerts triggered... In usual circumstances it will be a good opportunity for bears to load, however smart money who understand the macro flows in play will ping the lows into year-end.
On the longer term chart we can comfortably lean on BTC:
Thanks for keeping your support coming with likes and comments! As usual jump into the comments below with your views, charts, questions and etc.
Expecting BTC dips to continue to be met with demand/covering interest and a close above 7250 is needed for us to get excited. Largely ignoring broader cryptocurrency gyrations and heavily XBTUSD, EOSUSD, ETHUSD and XRPUSD influenced, intraday. For the execution here we have infamous Worm In The Apple alerts triggered... In usual circumstances it will be a good opportunity for bears to load, however smart money who understand the macro flows in play will ping the lows into year-end.
On the longer term chart we can comfortably lean on BTC:
Thanks for keeping your support coming with likes and comments! As usual jump into the comments below with your views, charts, questions and etc.
Note
Trade closed: stop reached
Macro stops tripped here.
Related publications
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.