In the wake of one of the craziest weeks in crypto history, we look at the BTC Daily chart.
There's 2 zones to keep an eye on in both the short & mid term.
That being the $16-20K we find ourselves in now
And the "doomsday" zone of sub-$13K BTC.
We have to consider just how systemic the FTX situation is with the amount of assets they might have pledged as collateral via Alameda.
Combine that with an overall bearish macro situation, that doomsday zone sounds evermore likely.
Nonetheless, we will always remain LONG TERM bullish on crypto, however in the short term we'll be eyeing some nice scalp/swing setups, along with great HODL entry points for longer term investing.
Either way - keep your head on a swivel. Crazy times!
-TucciNomics
Chief Overlord, AlgoBuddy
There's 2 zones to keep an eye on in both the short & mid term.
That being the $16-20K we find ourselves in now
And the "doomsday" zone of sub-$13K BTC.
We have to consider just how systemic the FTX situation is with the amount of assets they might have pledged as collateral via Alameda.
Combine that with an overall bearish macro situation, that doomsday zone sounds evermore likely.
Nonetheless, we will always remain LONG TERM bullish on crypto, however in the short term we'll be eyeing some nice scalp/swing setups, along with great HODL entry points for longer term investing.
Either way - keep your head on a swivel. Crazy times!
-TucciNomics
Chief Overlord, AlgoBuddy
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