$GMX Important area to hold to set a higher low.
Many $ALTS showing similar structures. Some stronger than others.
If these alts want to turn this into a higher timeframe reversal, it's key to start bouncing soon.
🚨 Potential Big Catalysts & Volatility Coming:
🔸Tuesday or Friday potential Grayscale vs SEC decision. This is whether they are allowed to turn the fund into an ETF.
🔸Decision regarding 5 #Bitcoin Spot ETF's including Blackrock. This happens by Friday (Deadlines in weekend).
#Bitcoin Price grinding down while Open Interest is up well over $300M.
Funding still neutral. Would assume some open interest puke will take place soon.
Definitely a lot of positions on both sides.