9120 and 9022 were key levels. The negative momentum on the 4 hour and daily were too much. 4 hour, daily and monthly momentum are all in the same camp. The weekly is now on its own and waiting to get bent over. Believers now must be wary of 7980, 7310, 5614 and .786 back of 4934-80. If the weekly breaks down and the 4900 level comes apart for any length of time, then the 3400 level is an option. This level will bring Tether down (IMO) and then things get nasty. Institutional interest is still rock solid. They have been convinced. If they start to smell blood, they will only smile at the discounted opportunity. They get the math behind 33k and 150k etc. (at least some of them do). Are you ready to take a stand at the above levels 4900 and above?
"On Monday, the Federal Reserve Bank of San Francisco and a Stanford University professor released a report concluding the launch of bitcoin futures last December contributed to the ensuing price collapse." OPEN INTEREST at the time did not in any way influence price action at the old top. Correlation - yes, duh. Things are different now. Both the CME and the CBOE are getting their legs. So, there is that in relation to the smiles above. It is the old saying, "careful with what you ask for".
Hope you are ready for a fight.
"On Monday, the Federal Reserve Bank of San Francisco and a Stanford University professor released a report concluding the launch of bitcoin futures last December contributed to the ensuing price collapse." OPEN INTEREST at the time did not in any way influence price action at the old top. Correlation - yes, duh. Things are different now. Both the CME and the CBOE are getting their legs. So, there is that in relation to the smiles above. It is the old saying, "careful with what you ask for".
Hope you are ready for a fight.