It's official.
On July 31st, we called for US government intervention as long-term borrowing costs hit 2008 levels.
Today, it happened. The US Treasury is DOUBLING buybacks to $4 billion per operation for "liquidity support."
What comes next? Let us explain.
(a thread)
Bitcoin didn’t get to the 64,800 CME gap I wanted so that level still remains as a level of interest. Will be taking another hedge long attempt when it gets down there. My preferred scenario would be a first one arrives, second one cleans pattern.
The 68,115 gap is the first level of resistance to the upside and could be an interesting scalp short depending on the OI as it goes up there. (You want it declining if you want to short)
Been around VAL for ages now. needs to reclaim POC to fuel a move up toward VAH at 70k+ ~ or we could see a deeper flush into the low 60s
Prime setups: fakeout below VAL followed by a value reclaim, TP at VAH
or rejection at the current consolidation VAL, TP on the lower wicks