We've got quite a few things going on with the markets but one thing I can't ignore is the fact that Bitcoin had a massive dump after FTX that liquidated huge players. SBF played games with investor funds where he shouldn't have.
What happeend to Bitcoin, though? It would appear nothing since we're trading higher than we were when that news dropped. BTC has remained resilient while equities have been running through an emotional roller coaster the last few months.
We're sandwiched between some key levels, but if the stock market does have a significant pullback and if it takes crypto with it, I would like to see SPX make a new low while BTC making a higher low. Don't be surprised if your alts pull back significantly. Go look at my thoughts on BTC.D Dominance. There are key hints there.
I've been bullish since the end of December, but right now, I am skeptical for significant upside. Likely we will test the supply near the August highs, but from there we will probably pullback into demand, which I've outlined. That'll be where you *might* be able to catch a decent spot buy.
Good luck!
What happeend to Bitcoin, though? It would appear nothing since we're trading higher than we were when that news dropped. BTC has remained resilient while equities have been running through an emotional roller coaster the last few months.
We're sandwiched between some key levels, but if the stock market does have a significant pullback and if it takes crypto with it, I would like to see SPX make a new low while BTC making a higher low. Don't be surprised if your alts pull back significantly. Go look at my thoughts on BTC.D Dominance. There are key hints there.
I've been bullish since the end of December, but right now, I am skeptical for significant upside. Likely we will test the supply near the August highs, but from there we will probably pullback into demand, which I've outlined. That'll be where you *might* be able to catch a decent spot buy.
Good luck!