THE SELL IS IN. We cannot get a solid close over 24.6k to push for a 30k test which alludes me to a dive down to the impulse at 15-17K.
The interest rate hikes in the past 6 months have just been another driver in KILLING the price of BTC and majority of cryptos. The banks are broke and are liquidating their initial positions for a possible lower buy in.
The US gov is also looking for crypto regulation which would further dampen the price as this is not what crypto was created for. They will speak towards this in the NOV elections as well. The US GOV wants to us USDC/ USDT
We tested 20K today 9/27/22 but it could not hold over.
BTC wants low LOW. It is in the bottom depths of consolidation towards a cheaper price.
19K flat is a safe buy in zone but you can look for a high 19.5K test to enter. This will not be a fluid drop but a choppy drop.
Anything lower than 16K = 12K SOS
SL: 20.1K
TP: 16K
RR: 1:2.5
The interest rate hikes in the past 6 months have just been another driver in KILLING the price of BTC and majority of cryptos. The banks are broke and are liquidating their initial positions for a possible lower buy in.
The US gov is also looking for crypto regulation which would further dampen the price as this is not what crypto was created for. They will speak towards this in the NOV elections as well. The US GOV wants to us USDC/ USDT
We tested 20K today 9/27/22 but it could not hold over.
BTC wants low LOW. It is in the bottom depths of consolidation towards a cheaper price.
19K flat is a safe buy in zone but you can look for a high 19.5K test to enter. This will not be a fluid drop but a choppy drop.
Anything lower than 16K = 12K SOS
SL: 20.1K
TP: 16K
RR: 1:2.5
Trade closed: target reached:
40 Days later + the FTX collapse and we have hit the target!
Patience is key.
Patience is key.