System Administrator - love WIFE, tech & finance - 100% accurate being wrong most of the time. Providing HI-QUALITY useless information...completly organic
@MikeASperrazza Let me ask you a question Mike- if Iโm telling you I smoked crack, why in the world would I lie about snorting it? Thereโs plenty of pictures of me smoking crack doing all sorts of stupid things, with all sorts of people and rarely with clothes on. But not snorting cocaine.
$BTC is building another range with increasingly compressed price action.
We see this pattern all the time in markets:
Balance (fair value) โ Impulse (unfair value) โ Balance (new fair value)
(This is just Auction Market Theory)
Right now, BTC appears to be back in a region of balance.
To get a clue about the next likely move, we need to look beneath price and analyze the order flow:
โข OI โ
โข Spot CVD โ
โข Perps CVD โ
This is a very interesting combination.
While perp traders continue selling into the range, actual spot demand is starting to step back into the market.
That makes this balance region fundamentally different from the ones we have seen over the past few weeks.
Usually, whenever price compressed, spot demand remained weak or completely absent.
This time, we are seeing genuine buyers showing interest again.
For me, this is obviously not enough to blindly enter a long position.
But it is definitely enough to pay very close attention to US open on monday.
If order flow continues to improve, it could provide an opportunity to position for the next impulsive move.
As I already mentioned in yesterdayโs post, I continue to lean towards a short-term bounce on the LTF while remaining bearish on the higher timeframe.
$BTC High Leveraged Liquidation
Possible run towards 75k...
There's a HUGE chunk of high leveraged idiots just above the current price.
Heaviest between 74.4 - 74.7k.
I owe you chaps an apology.
It has been far too long since I last posted, but life has been rather unkind.
Mrs Ptardio has left me.
It is entirely my fault. I recklessly gambled away the pension on a series of crypto-currencies that promised much and delivered little.
When the market turned, so did she.
A woman of refined tastes, she took one look at the balance sheet and packed with the efficiency of a Lehman risk officer in 2008.
I am wounded, yes. But not finished.
Some of my finest trades were made with a broken heart.
I have moved into the spare room of my dear old friend Simon Pennyworth and resolved to win back my losses, both financial and romantic.
It is good to be back, gents.
You are emphatically stupid crazy!
You had 100 million and you lost it
You should bury your head in a hole like an ostrich and never ever get on X again . โ๐ผ #bitcoin
the win rate of these types of trades are typically less than a gas station lottery ticket . Yet people keep coming back like flies to a bug lamp to them ๐คฃ #bitcoin