Summary and additional points:
In the video I talk about the current TA and QA, talk about all the narratives as to how we got here, the current landscape of the market and many other things.
Bitcoin should be bouncing here but looks too weak. Too many longs... Funding, open interest and premiums agree with that. The market could get to 8400 but that's as far as I can see it go. Definitely don't expect any new highs and time soon. New highs and ATHs in Q1 or Q2. Currently all I see is potential capitulation in Nov-Dec with a change occurring with the new quarterlies in mid December
As I've been saying Bitcoin has been bearish for a really long time. Personally was bullish on alts for quite some time and got a few decent plays as I mentioned on twitter, but now I am out of most alts. Have separated my accounts in Trading, Hodling and 'investing' where investing consists of gems in which I have 5% of all my coins.
Alts are suffering too as there are too many ALTUSD longs and there is an Adam and Eve formation on BTC.D. Imho there are still plenty of good opportunities in alts if you look at mid-low caps as large caps with leveraged show high correlation to the downside as BTC goes down.
Key areas to the downside : 7500 - 6850 - 6400 - 6100/5900 - 4900 - 4300
In the video I talk about the current TA and QA, talk about all the narratives as to how we got here, the current landscape of the market and many other things.
Bitcoin should be bouncing here but looks too weak. Too many longs... Funding, open interest and premiums agree with that. The market could get to 8400 but that's as far as I can see it go. Definitely don't expect any new highs and time soon. New highs and ATHs in Q1 or Q2. Currently all I see is potential capitulation in Nov-Dec with a change occurring with the new quarterlies in mid December
As I've been saying Bitcoin has been bearish for a really long time. Personally was bullish on alts for quite some time and got a few decent plays as I mentioned on twitter, but now I am out of most alts. Have separated my accounts in Trading, Hodling and 'investing' where investing consists of gems in which I have 5% of all my coins.
Alts are suffering too as there are too many ALTUSD longs and there is an Adam and Eve formation on BTC.D. Imho there are still plenty of good opportunities in alts if you look at mid-low caps as large caps with leveraged show high correlation to the downside as BTC goes down.
Key areas to the downside : 7500 - 6850 - 6400 - 6100/5900 - 4900 - 4300