The entire crypto board has been well supported purely from an excess liquidity perspective and the value trap in the past few quarters, which has set the tone for the MT and LT BTC flows in general.
📍 As I understand it there are a lot of large hands caught short BTC, unless there is a big leg down in equities before ext week then we have room to complete the test of $12,000, which translates to a cascading of short coverings. Additionally, it feels like there is an underlying flow in BTCUSD from the MT and LT hands who know how to diversify and adjust portfolios to the present times.
A lot of focus back on FED this week as the implementation of Keynsian economics becomes hard to navigate. Those who track BTC from an inflation perspective, will know that it is very odd since last time Powell spoke at Jackson and pointed towards tolerance for higher inflation (by default rather than by choice) the 5's - 30's spread has narrowed which is essentially screaming that market expectations do not subscribe to Jerome one bit.
BTC (well better said, tech) is a deflationary phenomenon and points to a decent conviction away from fiat and towards digital money. Add to BTCUSD longs on dips towards $10,585.
📍 As I understand it there are a lot of large hands caught short BTC, unless there is a big leg down in equities before ext week then we have room to complete the test of $12,000, which translates to a cascading of short coverings. Additionally, it feels like there is an underlying flow in BTCUSD from the MT and LT hands who know how to diversify and adjust portfolios to the present times.
A lot of focus back on FED this week as the implementation of Keynsian economics becomes hard to navigate. Those who track BTC from an inflation perspective, will know that it is very odd since last time Powell spoke at Jackson and pointed towards tolerance for higher inflation (by default rather than by choice) the 5's - 30's spread has narrowed which is essentially screaming that market expectations do not subscribe to Jerome one bit.
BTC (well better said, tech) is a deflationary phenomenon and points to a decent conviction away from fiat and towards digital money. Add to BTCUSD longs on dips towards $10,585.
Trade closed: target reached:
First targets cleared @ $11,200 ✅
