Expectation that an increase in the Bank of Japan’s interest rate would act as a trigger for the start of a correction did not pan out. Just like last time, this time too we failed to see the levels and the marks of a potential top in the TOP-200 crypto assets (yesterday evening’s candle for 36 assets showed a potential top mark on the 4-hour timeframe).

As long as it’s Friday, it’s green—and not just for #BTC, but for a number of altcoins too. The P73 CryptoMarket Monitor shows that today, 61 assets out of the TOP-200 have already switched into a stable uptrend on the 4-hour timeframe. And on the last candle, 45 assets switched into an uptrend on this timeframe at once, including #ADA, #DOGE, #SOL.

The key thing is that today the BTC price has again moved into a stable uptrend on both the 3-hour and, just now, the 4-hour timeframe. Base targets, liquidity zones, and potential breakdown levels are shown in the screenshot.

In the end, we covered almost all of our short add-on from yesterday. Restoring the short to break-even at the 71,678.53$ level, and raising the liquidation level to 86,562$. We covered at 77,793$ as well.

The presence of a large number of stable downtrends on the 12-hour timeframe (26 assets, transition on September 16) keeps a high probability of a market correction. At least until they are broken. But for now, local stable trends are against that.

With major events—three of them, all of which brought negative signals for the crypto market (haha)—this week is over. Neither the failure of the CLARITY Act nor the rate hikes by the US Federal Reserve and the Bank of Japan managed to push the price down the way the crowd expected. We were waiting for a drop and only bet on it ahead of the Bank of Japan decision. And solely based on the technical picture and extreme-conditions signals. But that rate hike didn’t work either. The bears have been wiped out again.

By logic, the crowd should now believe that it’s “only up from here.” Since the negative news items are over, and the price has risen on them. And, as per the classic genre, it’s on this that they should shave the bulls already. But for now, the stable Bitcoin uptrend on the 3-hour timeframe goes against that scenario. And that’s why we’re just waiting again.