BTC Reaching Inflection Point - Bottom Almost in
Suspect $BTC is very close to inversion point.
KPIs relevant here: Funding Rates have been negative but now finally OI weighted funding rates moving up - gradient moving positively
Global volume picking up - long liquidations spiking (expect this to increase 3-5 days prior to spike) - Buy/Sell volume significantly angled to the near term short far term long
More immediately - Longer term RSI is negatively diverging from BTC Dom/RSI - with negative price trend - historically indicative precedent bullish move - that being said has also led to trending picture in past prior to bullish move, and of course max pain remains significantly above index price.
Overall suspect positive move here. Targets on screen for Potential Reversal Zones.
#1 - 41260
#2 - 39398
#3 - 34889
Overall suspect the move to occur shortly prior to interest rate decision next monday. Hopefully leading a relief rally into Feb - IF no surprises prior.
!!!!!!!!!!!!!!!!!!!!! BUT.... and it is a big but..................................................
There is another option here, which is a liquidation cascade or significant external event - like NASDAQ collapse triggered by an overly hawkish Fed move for example, or tapering speeding up (which already is effecting liquidity and hence bullish sentiment)
There is a real chance here that tightening monetary policy will achieve the bursting of asset bubbles in what is now a highly over leveraged economy without having the ability to reign in inflation. Which would primarily lead to a market collapse and huge loss of liquidity (longer term better for non USD assets like BTC but huge cascade first).
I would buy spot and close your eyes or place short stops that suit your risk appetite. But as always NFI!
KPIs relevant here: Funding Rates have been negative but now finally OI weighted funding rates moving up - gradient moving positively
Global volume picking up - long liquidations spiking (expect this to increase 3-5 days prior to spike) - Buy/Sell volume significantly angled to the near term short far term long
More immediately - Longer term RSI is negatively diverging from BTC Dom/RSI - with negative price trend - historically indicative precedent bullish move - that being said has also led to trending picture in past prior to bullish move, and of course max pain remains significantly above index price.
Overall suspect positive move here. Targets on screen for Potential Reversal Zones.
#1 - 41260
#2 - 39398
#3 - 34889
Overall suspect the move to occur shortly prior to interest rate decision next monday. Hopefully leading a relief rally into Feb - IF no surprises prior.
!!!!!!!!!!!!!!!!!!!!! BUT.... and it is a big but..................................................
There is another option here, which is a liquidation cascade or significant external event - like NASDAQ collapse triggered by an overly hawkish Fed move for example, or tapering speeding up (which already is effecting liquidity and hence bullish sentiment)
There is a real chance here that tightening monetary policy will achieve the bursting of asset bubbles in what is now a highly over leveraged economy without having the ability to reign in inflation. Which would primarily lead to a market collapse and huge loss of liquidity (longer term better for non USD assets like BTC but huge cascade first).
I would buy spot and close your eyes or place short stops that suit your risk appetite. But as always NFI!
Comment:
So it appears to be PRZ #3