$BTC Oh no, this is bad!!!
This price action is honestly a little scary!!!
BTC just hit a new low again. How are your wallets holding up, guys?
Don’t rush to call the bottom! U.S. October CPI came in hot, and the prospect of a December rate hike is still hanging over us.
Initial jobless claims came in at 200,000 last night, slightly above expectations, but the labor market is still resilient.
U.S. October PPI is out tonight at 21:30. Expectations are 0.4% month-over-month for headline PPI and 0.3% for core. If it comes in hotter than expected again, prices could take another hit in the short term.
First watch resistance at 71,200, then 72,700. Both levels have flipped from support to resistance.
For ETH, watch 2,000–2,030 overhead.
The plan is still to favor shorts on rebounds.
But don’t blindly chase the price near 69,000 right now. Be prepared for a rebound here—this doesn’t mean you should wait until support to add to your shorts.
Close most of your old short positions for now, and move the stop on the small remainder lower for protection.
If you’re flat, wait for a rebound into 71,200–72,200 to stall, then try a small position.
PPI is out tonight. Don’t get trigger-happy, and don’t overleverage. The market will give us the answer.
That ETH short from 2,083 was a sweet little win too 🤏!! Now let’s keep waiting for the next opportunity to get positioned 🫡🫡🫡
$ETH $SNDK
This price action is honestly a little scary!!!
BTC just hit a new low again. How are your wallets holding up, guys?
Don’t rush to call the bottom! U.S. October CPI came in hot, and the prospect of a December rate hike is still hanging over us.
Initial jobless claims came in at 200,000 last night, slightly above expectations, but the labor market is still resilient.
U.S. October PPI is out tonight at 21:30. Expectations are 0.4% month-over-month for headline PPI and 0.3% for core. If it comes in hotter than expected again, prices could take another hit in the short term.
First watch resistance at 71,200, then 72,700. Both levels have flipped from support to resistance.
For ETH, watch 2,000–2,030 overhead.
The plan is still to favor shorts on rebounds.
But don’t blindly chase the price near 69,000 right now. Be prepared for a rebound here—this doesn’t mean you should wait until support to add to your shorts.
Close most of your old short positions for now, and move the stop on the small remainder lower for protection.
If you’re flat, wait for a rebound into 71,200–72,200 to stall, then try a small position.
PPI is out tonight. Don’t get trigger-happy, and don’t overleverage. The market will give us the answer.
That ETH short from 2,083 was a sweet little win too 🤏!! Now let’s keep waiting for the next opportunity to get positioned 🫡🫡🫡
$ETH $SNDK
