We've seen massive capitulation and it has formed a harmonic shark pattern in the process.
It will likely go sideways from here initially but generally we already had our first change of structure under wyckoff accumulation.
Its just a matter of time before this fully reverses.
If you missed bitcoin a decade ago, this is your next bitcoin.
Our trigger is RSI...
If you haven`t sold crypto`s favorite bank, SI Silvergate, here:
Then you should know that Silvergate Capital Corp, the parent company of Silvergate Bank, announced its closure and liquidation of assets on Wednesday.
Shortly after, New York state banking regulators closed down Signature Bank to prevent the fallout from the failure of Silicon Valley Bank.
...
As I mentioned before, the contagion will spread like wildfire because the banking system are so intertwined.
We now see Deutsche Bank potentially get caught in the onslaught. Their share tanked by approximately 15% last Friday.
After Credit Suisse got obliterated and UBS come to pick up the remains with assistance from SNB ($100 Billion Swiss Franc), their...
Hi Traders, Investors and Speculators of the Charts 📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
In a twist of events, an incident that happened within the banking realm created chaos for the crypto realm. I bet you didn't have that...
Sharks are smelling blood in the banking sector and they are loading up to strike. Last week, we saw Silvergate Bank collapse and shortly after that, Silicon Valley bank (SVB).
Within 48 hours, 2 moderate size regional banks went under. Last Friday, several banks tanked at least 20% and few were halted due to massive shorting.
The house of cards are falling and...
If you haven`t bought puts here:
Then you should know that last week, Silvergate's stock plunged by up to 45% following the company's announcement that it would delay filing its annual report due to ongoing investigations by various regulatory bodies, including the U.S. Department of Justice.
This led major players in the crypto industry, including Coinbase...
A development that just last year would certainly crash Bitcoin down to new lows, today only produces a small scratch on Bitcoin's price.
Pressure from all around.
Bad news: Inflation, the SEC fighting everybody in the Crypto-industry in order to advance their personal agenda, companies going bankrupt, all hell breaking loose... Bitcoin drops by $300...
