@CryptoCapo_ Currently, it is a fight between bears and bulls around the monthly close. If it is under the former all-time from 2017, at $19,891, and a weekly close under the 200-week moving average it would probably set about enormous technical selling.
If you look at the #Bitcoin Exchange Inflow and Outflow charts it certainly seems that there is very little to stop the market grinding lower until real volume, institutional, and new or existing retail interest returns.
#Crypto#BTC
#GM#Crypto
Portfolio Update -
Current PnL: +288K
Open Deals: 9
Overall, #Bitcoin is gearing up for its next big move post-Jackson Hole. Unless the price starts to anchor above $21,700 and then $22,700 things look bleak ahead
#WAVES#LTC#DOGE#DOT#MKR#VET#EGLD#THETA
#GM#Crypto
Portfolio Update -
Current PnL: +215K
Open Deals: 8
Currently, I am not seeing any signs of distress on-chain that would imply more downside. However, I have seen some divergence has been reversed.
#SXP#ICX#KSM#HBAR#MKR#VET#EGLD#THETA
#GM#Crypto
Portfolio Update -
Current PnL: +222K
Open Deals: 9 (Increased exposure)
The next few days are crucial for #BTC. Failure to crawl above the $23,000 level could lead to a retest of yearly lows, possibly lower.
#KSM#HBAR#SXP#ICX#UNI#MKR#VET#EGLD#THETA
#GM#Crypto
Portfolio Update -
Current PnL: +239K
Open Deals: 4 (Closed most of the positions)
Overall, I am still short-term bullish and still hopeful #Bitcoin can show me something and start to rally again. But it needs to happen quickly.
#VET#EGLD#MKR#THETA
#BTC#Crypto
Portfolio Update -
Current PnL: +315K
Open Deals: 3 (Mostly out of market)
Overall, Bulls need to break past the $25,000 resistance level to really turbocharge a move higher. I hope BTC doesn't need to move lower before moving higher again.
#VET#EGLD#THETA
#GM#Crypto
Portfolio Update -
Current PnL: +340K
Open Deals: 3 (Closed most of the positions)
Overall, #Bitcoin and the #Crypto market has an excellent shot at heading higher.
#EGLD#THETA#VET