This trade idea is to update my thoughts of the macro picture I believe is at play. I had previously warned of the consequences of SPX losing $4050 support and we are seeing the effects in crypto land. Now let's get to the business at hand: In my opinion, $32,658 will act as strong resistance. In my opinion if support at $25,800 is lost, the larger move will likely continue down to $10,000. Below $10,000, I would expect a retest of the $4000 - $6000 region.
Resistance: $32,658
If I were to accumulate spot crypto coins, I'd wait until Bitcoin is at least trading in the $6000's. Please keep in mind that good support is near $0.
This trade idea is not financial advice. I am not a financial advisor of any kind.
Please do your own analysis, responsibly manage your risk, and stay safe.