Not sure why nobody sees this - it is supported by 7 or 8 taps on a super clean linear regression of highs and lows.
I've been trading this for a while. Stay bullish if you want, I'm not taking profit on this and will let it close flat if I'm wrong about this.
BTC has broken this trend line and will collapse while everyone is buying it on the way down.
Don't get rekt. I can't predict the future, and over 23650 or so I'll have another look but my entry is 0-risked and I'll let it close flat.
Nobody seems to understand the fundamentals either. PPI is high. Rebound inflation was expected. I watched lots of skilled traders, myself included, take a hit on the CPI print. We got smart and remembered to respect the market. All of those traders recovered within a day.
Now we have the edge of information asymmetry. So I can tell you with conviction that unless the correlation to the 000001 sh SSE Shanghai goes up, the price of bitcoin, SPX/ES NDQ/NQ are going to collapse for 6 months. I'm riding this short either to $0 profit or whenever the fed stops hiking again.
I expect a potential 50bps hike. The fed have officially failed. I have a post with a rant in it explaining what powell had to do and he has failed. He will now have to absolutely destroy markets. Destroy all currency other than USD.
BTC may end up rallying sooner than I expect, but the initial rush of fear into the next FOMC may wreck markets.
I've been trading this for a while. Stay bullish if you want, I'm not taking profit on this and will let it close flat if I'm wrong about this.
BTC has broken this trend line and will collapse while everyone is buying it on the way down.
Don't get rekt. I can't predict the future, and over 23650 or so I'll have another look but my entry is 0-risked and I'll let it close flat.
Nobody seems to understand the fundamentals either. PPI is high. Rebound inflation was expected. I watched lots of skilled traders, myself included, take a hit on the CPI print. We got smart and remembered to respect the market. All of those traders recovered within a day.
Now we have the edge of information asymmetry. So I can tell you with conviction that unless the correlation to the 000001 sh SSE Shanghai goes up, the price of bitcoin, SPX/ES NDQ/NQ are going to collapse for 6 months. I'm riding this short either to $0 profit or whenever the fed stops hiking again.
I expect a potential 50bps hike. The fed have officially failed. I have a post with a rant in it explaining what powell had to do and he has failed. He will now have to absolutely destroy markets. Destroy all currency other than USD.
BTC may end up rallying sooner than I expect, but the initial rush of fear into the next FOMC may wreck markets.