$BTC 74,400 with US CPI less than 24 hours out, and the liquidation map has a wall on each side.
What I see: the biggest long cluster sits at 73,400 to 73,700, just above Sunday's 73,333 low. Shorts stack at 75,650 to 75,850 and again near 76,400. Open interest is flat on the day (minus 0.9%) and funding is 0.01%, so nobody is paying up in either direction. Accounts sit 2.9 long per short, top traders 2.1 by position.
What I think: the closer wall tends to get tested first. 73.5k is 1.2% away, 75.7k is 1.8%. I lean on a sweep of 73.5k before any run at 75.7k.
What changes my mind: an hourly close above 75,000 before the print.
For $JTO: at about 1.65x BTC that maps to roughly 0.329 below and 0.346 above, from 0.336 now.
Which wall breaks first, 73.5k or 75.7k?
Not financial advice.
#CPITestsDecemberRateOutlook #BTC #MarketUpdate
What I see: the biggest long cluster sits at 73,400 to 73,700, just above Sunday's 73,333 low. Shorts stack at 75,650 to 75,850 and again near 76,400. Open interest is flat on the day (minus 0.9%) and funding is 0.01%, so nobody is paying up in either direction. Accounts sit 2.9 long per short, top traders 2.1 by position.
What I think: the closer wall tends to get tested first. 73.5k is 1.2% away, 75.7k is 1.8%. I lean on a sweep of 73.5k before any run at 75.7k.
What changes my mind: an hourly close above 75,000 before the print.
For $JTO: at about 1.65x BTC that maps to roughly 0.329 below and 0.346 above, from 0.336 now.
Which wall breaks first, 73.5k or 75.7k?
Not financial advice.
#CPITestsDecemberRateOutlook #BTC #MarketUpdate
