Its a given that BTC will revisit the 50s in the near future, now the question is what are the repercussions once it breaks. Many are expecting a wick, but as prior red breaks have shown us, i dont think we will see 500 red dollar candles.
We can see that it is still strongly correlated to tradfi markets, many people hoping for sell continuation, but many people are also not taking into account that we are in the lows
We can see the tops on 20,300 even as early as thursday getting immediately sold. We can also see early today and Monday tops also getting sold on a whim. Textbook blow off top.
hige rejection just above 20,100, also we are looking for end of quarter portfolios rebalance among other things. Not good place to acquire risk assets.
As of few weeks, we have been seeing shakeoffs on the tradfi markets, as consequence bitcoin has taken as well a toll. We have seen from some weeks now, some strong correlation with the tradfi markets, does this mean general indecisiveness in crypto markets?
Alts also reflect the overall uncertainty in the markets. They usually are a prime indicator on how...
