After rejection of 48-50k range the target in my previous video was around 39-42k.
We already meeting those targets but as books reshape and futures data is delivered to us we can see that open interests are still high while price coming down and on top of that the amount of liquidations so far are quite disappointing.
We need so see some serious liquidations volume coming from futures because they didn't even meet half billion so far (ideally a billion)
In the video I talk about the expiration of September 24 Futures and Options contracts. This is very significant because they are "Quarterly" ones AND they are currently the highest with Open Interest allocated.
Options volumes are not really impactful from a raw absolute volumes stand point BUT they are meaningful from a psychological standpoint since it reveals good sample of market sentiment.
From here we are likely to bounce toward the 44.5 then revisit lows again. Once we tap 48k I expect major bounce to test 45k or the 47 range again.
hands down the best analysis on tradingview. you cover every aspect of what resonates thank you for your hard work.
D7R
⋅
@iamoptions, thanks sir 🤝
GoingDutch82
⋅
Thank you again for sharing. Your video’s inspire way more than the average chart with some lines and patterns. I like to understand the finer nuances around market sentiment and you explain it in an excellent way. Thx and respect for your work 👍🏻😎
lanehammet22
⋅
Thank you so much. So much great information
solveandscaleit
⋅
Thank you so much for this analysis. Confirms My thoughts of a possible bottom at 37k - Fib 0.38. Similar to the May consolidation. The Two patterns are very similar. Pattern 1 on 4 hr chart starts 12 dec, 2020 - 21 Jul, 2021. pattern 2 starts 21 Jul - Today.
D7R
⋅
@solveandscaleit, it depends a lot on sentiment. If big size swing traders decide to sell there is a chance those orders around 37k get destroyed. So we should take everything with grain of salt. Either we see strong volumes and complete strong bounce OR we get to lows where volumes will start disappear. We must see the extremes of each side to signal potential bottom. of course we are still missing massive liquidation events as I explained in the video.
Heather820406
⋅
Confirming my much simpler analysis with some quality content. Thank you!
D7R
⋅
@Heather820406, yeah I could go for 3-5m video. The idea is to provide different context and allow people to take away useful points where people can look for
Thank you for your analysis! I spent a little time on your site, it seems the value is for someone who has much more knowledge on the market than I do, yet you explain your thought process very well. Still over my head, but sinking in.. so again thank you !