A look at #Bitcoin historical bottoming pattern using Fibonacci levels
2013 - 2017 - 2021 - Present
Fibonacci instant reversal zone has never failed to be the EXACT bottom.
Will this time be different?
$1.2b in bitcoin put open interest stacked at the $60k strike on deribit. market makers who sold those puts have to delta hedge by selling spot as price approaches. that's mechanical selling pressure with zero regard for sentiment. BTC at $62k is 3.4% from triggering it. $10.4b in open interest destroyed in 48 hours, $4.4b in ETF outflows over 13 straight days, coinbase premium negative since february. the signal to watch right now: if binance open interest keeps declining while price falls, that's liquidations feeding more liquidations. if OI holds steady or rises on the next leg down, those are new shorts opening and that's squeeze fuel. when the music stops, you're fucked. but if you're watching the right dashboard you'll know which song is playing.
ALERT: FBI places a $10,000 bounty on an escaped prisoner who transferred himself $11 million from a victim's stolen Charles Schwab account he accessed on a contraband cellphone.
Arthur Cofield was serving an 11-year sentence for conspiracy to commit bank fraud and aggravated identity theft at a Federal Correctional Institute (FCI) in Jesup, Georgia.
While in the FCI, Cofield allegedly used a contraband cellphone, gained access to a victim's Charles Schwab investment account, and wired himself $11 million.
With the money, Cofield bought a $4 million mansion and 6,106 gold coins that he had transferred to Atlanta via private plane.
Cofield escaped the FCI on May 26th, and the FBI warns that he is armed and dangerous.
The next bull run after the black swan bottom is going to be the biggest run anyone has ever seen. All stocks, bonds & the derivatives market are all getting tokenized as we speak. That’s $1 quadrillion(1000 Trillion) of liquidity from just those 3 things alone that is about to flood an asset class that has only $2 Trillion in it. They are about to launch a whole new crypto based financial system. They have to use bridge assets to accomplish it. This next run is going to be way bigger than 99% of people realize
I guarantee you a bull run of this magnitude will not start out with a slow months long bottom giving every retail investor that much time to buy the bottom. The bottom will be a MASSIVE capitulation panic sell off wick like a like a giant fuse to a giant rocket.
This is a once in a life time opportunity. You prob won’t experience anything like this again. Make sure you capture it. You can make millions by just holding spot. Don’t mess it up by getting too creative. Don’t ruin it with leverage. Secure it. Make some hard rules and sick to them to the end. This is the great wealth transfer event you heard about.