BitmexDegen

Btc short term outlook

BINANCE:BTCUSDT   Bitcoin / TetherUS
Once again crypto got hit by high correlation to equity markets. This is what happens in risk-off situations when everyone's fleeing to cash.

Pretty much the same scenario as when we dropped from the 11k range driven by trad markets, but less violently this time and didn't really go deep into demand block.

LTF (H1) BB Bot already giving multiple long signals for scaling into a swing long and SCMR turning neutral. Would like to see the same signals develop on H4/H12 and equity behave from here.

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ThanksForSharing
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we also have a nice M formation on the daily, we could definitely see a move higher
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BitmexDegen transparent-fx
@transparent-fx, yes mate, that would be the expectation. Also, looks like some miners anticipated the equity drop and sold out their inventory, spot inflow from miner wallets has been high
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