#BTC We were having a reasonable weekend and within expectations, moving sideways, but the weekly opening was disastrous, as just hours earlier Iran began making statements that a US attack was imminent.
The fear is evident, we don't even need to look at the USDT.D chart, which surged +4.25%.
Despite both sides, the US and Iran, continuing to publicly claim that they are making progress on the agreement, they also make it clear that they are ready for military action. This all seems like a big theater, as 7 months ago the US said that Iran's nuclear program was devastated and that it would take years to recover, and now we are already talking about Iran being 1 week away from creating a bomb. How is this possible?
Anyway, the charts quickly retreated, but we are still seeing altcoins print greater strength against Bitcoin. Look at OTHERS/BTC, it rose +1.60% and some altcoins dropped less than BTC itself.
Bulls are in a complicated situation at this moment, with the price returning to the lower part of the red range, around $64.5K. We need to close today above $65K to continue showing strength in this region.
Spot buyers are not playing around and the demand around $60K is growing rapidly, at this moment it is already greater than at any other time. It seems that this is the region where the bottom will actually form.
Although prices are at a crucial point, I am not very interested in them. Thursday is the day I am most interested in and will probably be the most important day for the price this week. Before people ask me if my interest on Thursday is because of what Zach has to say to the crypto world, no, it has no relation and, to be honest, whoever he is going to expose I will not be surprised, as trading on insider information is something common in any market, so I have zero interest in that.
There are good opportunities for Traders, we are at the extremes.
The fear is evident, we don't even need to look at the USDT.D chart, which surged +4.25%.
Despite both sides, the US and Iran, continuing to publicly claim that they are making progress on the agreement, they also make it clear that they are ready for military action. This all seems like a big theater, as 7 months ago the US said that Iran's nuclear program was devastated and that it would take years to recover, and now we are already talking about Iran being 1 week away from creating a bomb. How is this possible?
Anyway, the charts quickly retreated, but we are still seeing altcoins print greater strength against Bitcoin. Look at OTHERS/BTC, it rose +1.60% and some altcoins dropped less than BTC itself.
Bulls are in a complicated situation at this moment, with the price returning to the lower part of the red range, around $64.5K. We need to close today above $65K to continue showing strength in this region.
Spot buyers are not playing around and the demand around $60K is growing rapidly, at this moment it is already greater than at any other time. It seems that this is the region where the bottom will actually form.
Although prices are at a crucial point, I am not very interested in them. Thursday is the day I am most interested in and will probably be the most important day for the price this week. Before people ask me if my interest on Thursday is because of what Zach has to say to the crypto world, no, it has no relation and, to be honest, whoever he is going to expose I will not be surprised, as trading on insider information is something common in any market, so I have zero interest in that.
There are good opportunities for Traders, we are at the extremes.