Morning folks,
It seems that everything goes as we suggested. S. Bessent grabs all available liquidity out of the market. RRP is done already, next is a banking reserves. They still need around $500 Bln. This explains, why other markets show reasonable action while BTC totally erased Powell speech effect.
BTC now stands at vital area. Downside breakout of 105-108K support will lead probably to appearing of big daily H&S pattern and following drop under 80K area...
For now we do not consider any long positions. To take the short one, you anyway will have to do it against the Friday's top of 117K, which seems a bit too far for daily/intraday trading. So, you have to find either closer area for stop placement or wait for some upside bounce.
Although it is a temptation to treat daily shape as Double Top, I wouldn't aimed right now on its 101K target. Better to consider closer standing ones around 108K first.
It seems that everything goes as we suggested. S. Bessent grabs all available liquidity out of the market. RRP is done already, next is a banking reserves. They still need around $500 Bln. This explains, why other markets show reasonable action while BTC totally erased Powell speech effect.
BTC now stands at vital area. Downside breakout of 105-108K support will lead probably to appearing of big daily H&S pattern and following drop under 80K area...
For now we do not consider any long positions. To take the short one, you anyway will have to do it against the Friday's top of 117K, which seems a bit too far for daily/intraday trading. So, you have to find either closer area for stop placement or wait for some upside bounce.
Although it is a temptation to treat daily shape as Double Top, I wouldn't aimed right now on its 101K target. Better to consider closer standing ones around 108K first.
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.