BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Here we are tracking Bitcoin as a barometer of measuring animal spirits...once again leading with S&P in heavy red today, BTC is looking once more ready to diverge from capital flows in a league of its own.

For those tracking the infamous "Bakkt floor" as widely expected price finding support after the cascade of stops:


Sentiment is once again changing in Cryptoland, direction is shifting and we can expect sharp moves across the board. What is concerning is that the direction will not stay inline with Equity markets as we enter late cycle exuberance. Bitcoin will come in handy for many of those wanting to clean portfolios for Christmas...

Good luck all those in BTC and thanks for keeping the likes and comments coming.

Comments

BTC double-bounced off a hard 400 EMA on 1D TF

Since then the 300 EMA seems to be a support
Reply
ridethepig Hazel-Ra-Owsla
Indeed @Hazel-Ra-Owsla, strong support found here in the low $8,000's
Reply
Hazel-Ra-Owsla ridethepig
@ridethepig, 300 EMA broke, but 400 EMA held...dead cat or are we going to moon town?
Reply
Maybe a little bit too optimistic?
I think this will drop in BTC. Such a heavy fall with little stopping volume usually just doesn't turn around on a dime
Reply
ridethepig speedracer1234
It will be used as a medium to help cleanse portfolios @speedracer1234
Reply
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