$BTC The weekly low was taken out which had a high probability of occurring.
But we're still right in the middle of the current monthly range between $100K-$110K.
As mentioned earlier, the total discplacement (low to high) of ~10% is the smallest range we've seen for a month in the past 4 years.
This means that it is still very likely that we will still take out either the monthly low (100K) or monthly high (110K) this month. I would also argue that taking out either of these levels likely causes a larger move in that direction.
But as price is currently right in the middle of everything, I am personally trying to keep my trades to a minimum. Had a good streak the past few weeks and don't want to give that back to the market during the sideways chop.
We'll get clarity and a solid trend forming sooner or later.
If one Bitcoin Hash Ribbons buy signal wasn't enough, we just got another one back to back.
This, in combination with low volatility, has never failed to produce a good run.
Oh, and no moves to the High Volatility zone where we've seen all cycle tops!
This is the weed-out cycle. Only the patient will make it to the end
Exactly what structure has $ETH lost during all this madness?
Of course a run of the lows is always possible, but still targeting higher. nPOC targets above are $2,631 $2,742 and $2,799.
Bring on the hate fellas, everyone is already so pissed off.
#Ethereum
FOMC today, where J Powell announces the new interest rate (11h20 from now)
The market is 99.9% sure rates will remain unchanged, despite Trump's continued pressure on the Fed to cut.
JPow's speech will be telling. Any sign of future cuts (or hikes?) will cause volatility.
#Altcoins - TOTAL3
The only chart you need at the moment.
Market is very news driven at the moment, but every dip is still a great buying opportunity imo.
Invalidation is clear.
The number of bitcoin on exchanges is closing in on < 2 million coins. This is the lowest since the 2017 bull run.
For reference, in just the last 6 months, Strategy alone has acquired over 300,000 coins or 15% of the remaining supply.
A violent upside correction is coming.
For macro cycle investors here, our Risk Model which measures drops BTC liquidity is hinting BTC has entered its late phase of its bull market.
Still upside to go.
We expect a BTC bear market once Global Macro markets turn.