Structurally, it's looking good trying to defend this key support level at $90k and also as a stance to retest previous broken resistance trend line which is now acting as support.
This $90k level is the most important level we need to watch for intraday level as this is the psychological level for the traders.
Shorts are also stacking their position here with the vulnerability of getting squeezed if the price can surpass the $92k (just like what I anticipated yesterday).
Let's wait, volume is very low but it's clear that price wants to go up. Current correction is fueled by the short position, not spot selling.
I'll be active during the weekend because there is a heating situation in Iran right now. Source says that some air forces have been sent to Tehran? This is important guys
We reached today's resistance at the $93,400 level from which we are now seeing a pullback sending the price back toward $92,000
However the upward impulse is not being suppressed very aggressively yet
Therefore as I mentioned earlier I am accounting for the possibility of a squeeze all the way to the resistance boundary at $94,000. There, the trend should very likely shift to downward
I will stick to this scenario until we break the $95,000 level and close above it on the daily chart. Only in that case would it be reasonable to change the setup. Until that happens downward expectations remain the priority
Also my quant sent me this behavioral change in term of BTC current movement.
1. Bid/ask ratio with the ob depth of 10% has now flipped positive, means that swing players are accumulating after previously being dominated by the short sellers on period between Nov 21 - Dec 18. 2. Funding rate is hiking after period of contraction, meaning that the long position is now dominating again in term of total positioning.
Still expecting the liquidation on both long and short before we see an expansion in the price.
The good point right now is that the altcoins (based on the TOTAL3ES) are outperforming Total market cap as the base index in this run.
This is important as it means money is flowing into the RISKIER asset which usually becomes the main driver for much higher movement in total market capitalization.
I'm going to watch how the US equity market open today as I have the thesis that buyer will step in after the tax harvesting period at the year-end.
โ ๏ธDECEMBER MANIPULATION ALERT โ ๏ธ Traders, stay sharp. December is one of the most manipulated months of the year โ thin liquidity, aggressive moves, and unpredictable market behavior. This is the month where impatience destroys accounts. Trade light, protect your capital, and donโt chase moves that arenโt yours. Stay disciplined. Finish the year with your account alive โ not blown.
๐ KEY MACRO EVENTS THIS WEEK: A packed data lineup is set to shape market sentiment: 1๏ธโฃ Nov ISM Manufacturing PMI โ Monday 2๏ธโฃ Sept JOLTS Job Openings โ Tuesday 3๏ธโฃ Nov ADP Nonfarm Employment โ Wednesday 4๏ธโฃ Nov S&P Global Services PMI โ Wednesday 5๏ธโฃ Nov ISM Non-Manufacturing PMI โ Wednesday 6๏ธโฃ Initial Jobless Claims โ Thursday 7๏ธโฃ Sept PCE Inflation โ Friday 8๏ธโฃ Dec Michigan Consumer Sentiment โ Friday With critical labor, inflation, and sentiment indicators on deck, markets could see heightened volatility as traders reassess economic momentum and Fed expectations. Macro #Economy #Markets #PMI #Inflation #JobsData
POV: BTC & BTC.D Observing BTC and BTC Dominance together, the charts may be suggesting a potential scenario where Bitcoin might be rising, while dominance could be falling. From a technical perspective, dominance appears bearish, while BTC itself seems to be maintaining a bullish structure. In many market situations, when BTC increases while dominance decreases, altcoins tend to show stronger and faster growth. Currently, some altcoins appear ultra-bullish on the 1-hour timeframe, which may indicate increased momentum in the altcoin market. Based on this behavior, the market could provide bullish opportunities on both BTC and altcoins โ however, market conditions may change anytime, so caution should be maintained.
Bitcoin might be trading around its weekly demand zone and trendline area, where it may start to show a stronger buying reaction. Based on other BTC perspectives, the overall structure could be turning bullish.
Additionally, the correlation between BTC and USD appears to be leaning in a bullish direction for Bitcoin.
We can observe that the USD Index is currently reacting from a major supply zone โ a level that previously served as a demand zone but has now turned into supply after being broken last month. This shift could indicate potential weakness in the USD.
If this correlation continues, the crypto market might show strength in the coming weeks, and Bitcoin should display more bullish behavior on the chart.
Do Kwon really said "5 years is enough" for a $40 BILLION fraud
Thatโs what Do Kwon wants after torching $40B and deleting millions of peopleโs life savings. He did 3 years in Montenegro and thinks the tab is closedโฆ
Meanwhile victims are still living the aftermath. If 5 years covers this level of damage, what even is justice? ๐ญ
We need to watch this closer. This could be another risk for MSTR as the BTC's higher beta play.
The analyst consensus is still bullish but it can soon changing. The average target is at $499 but the main problem is all those portfolio managers are now deep underwater.
We need to see BTC hike to the area above $100k as soon as possible otherwise there is likely these analysts will downgrade the MSTR consensus rating.
If MSTR is getting downgraded, it will be a loophole for BTC too and can drag down the BTC's price.
Look, hereโs the real truth about trading as Iโve come to understand it โ when a person reaches this stage, they usually go silent, because this is where the *real direction* beginsโฆ
The truth is: โ Trading isnโt quick. โ Itโs not about taking trades every day. โ One of the most important rules is **profit in percentage**.
The trader in the attached picture is a very big trader. After blowing many accounts, in the last six weeks heโs made just **5% profit**.
And here, people want **50% profit in 10 days** ๐ As if theyโve found *Aladdinโs magic lamp!*
Babu bhai, the trading you imagine doesnโt exist. Youโve ruined a beautiful thing by misunderstanding it.