Morning folks,
So, in general as you can see our upside AB=CD that we discussed last time is working. But...
as you know BTC is strongly related to liquidity dynamic on US domestic system. This month Mr. Bessent wants to re-finance 1Trln in debt, with net borrowing around 250 Bln. Hardly BTC will get a small chunk of this funds.
it means that the volatility could rise significantly in nearest 1-2 weeks with downside price gravitating. Overall action looks rather heavy. Maybe BTC somehow will complete AB=CD target around 116.20-116.25K, but now this action looks like retracement - no thrust, slow action a lot of overlapping candles. So lows might be re-tested or even broken.
In current situation we think it would be better to not take any new longs and watch for clarity. If you have position already - move stops to breakeven.
So, in general as you can see our upside AB=CD that we discussed last time is working. But...
as you know BTC is strongly related to liquidity dynamic on US domestic system. This month Mr. Bessent wants to re-finance 1Trln in debt, with net borrowing around 250 Bln. Hardly BTC will get a small chunk of this funds.
it means that the volatility could rise significantly in nearest 1-2 weeks with downside price gravitating. Overall action looks rather heavy. Maybe BTC somehow will complete AB=CD target around 116.20-116.25K, but now this action looks like retracement - no thrust, slow action a lot of overlapping candles. So lows might be re-tested or even broken.
In current situation we think it would be better to not take any new longs and watch for clarity. If you have position already - move stops to breakeven.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.