Btc

$BTC Open Interest flushed a lot on this little move down. It never really got up during this rally, and now whatever longs were in also took profit or got flushed out. Open Interest back to levels when BTC was trading in the low 60Ks. There isn't a lot of leverage in this

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$BTC Place your bets

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$BTC Pretty much flat in Q4 so far. Generally, Q4 sees big moves. It is the quarter where cycle tops and bottoms are set and where big breaks occur. Volatility will happen into the last two months of the year.

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$BTC Price action been far from clean the past 3 weeks, but here we are. Right back near the bottom of the range and now sitting on this diagonal support. Tomorrow is CPI. Good chance this is not going into the weekend with its current price. Expecting more volatility ahead

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$BTC Prime example of weekend price action. It's easy to move price when books are thin and liquidity is low. Makes people think something good or bad is happening while in the end barely anything considerable happens. When a sizeable move does occur during the weekend, it has

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$BTC Q4 has historically been Bitcoin's best and most volatile quarter. We have seen multiple market cycles top and bottom in the fourth quarter. Only once did we see a single digit percentage move (2021). Every other quarter generally sees a large move in either direction.

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$BTC Quite a bit of short interest entered around the $78K mark. These are sitting comfy in profit as we speak. Funding rates are starting to turn negative as BTC is approaching its $76K range low. Market is in need of a cool CPI print or this flushes lower. Otherwise, a

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$BTC Quite a few late longs trapped above $86K today. No open interest flush yet so that $85K level will be pretty key in the short term. Below there this starts accelerating. Especially with the near equal lows from before.

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$BTC Range as it stands. $85K level lost after being tested multiple times as support. Price failed to move higher after a few failed rallies. Level to watch are those near equal lows around the $83K region. If we get there it will likely cause a squeeze as it marks a range

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$BTC Rejecting below its breakout level after chopping around and failing to see continuation. Good to watch closely here because this is signaling weakness if you see multiple daily closes below $83K and bulls fail to retake it properly soon.

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$BTC Remains at its range low region ahead of FOMC today. Hike is priced in for ~90%. The key will be to see whether Warsh brings a hawkish presser with it as well. If he wants to crush inflation no matter what and keeps the door open for more hikes that'd not be great for risk

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$BTC Respecting the horizontal level still. Easy invalidation from here. Lose the green zone would signal weakness to me. Above the green zone the up trend momentum is there.

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$BTC September has been a rollercoaster so far but the past week has seen a big turn around. And Q4 is coming up. And Q4 is what is historically Bitcoin's best quarter. But in a bear market year, Q4 is also when BTC sets its bottom. This is why a lot of investors have been

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$BTC Since the local low all we've pretty much have seen is Open Interest go down and some local squeezes here and there. A lot of short covering by taking profit caused most of the move. Now the key for the bulls will be to A. Retake and hold above $83K and B. See spot bid

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$BTC Sitting at its big $83K level for the past few days. The longer we sit here, the bigger the risk it falls through. Bulls need to get this going because a rejection below would make things look quite ugly after that May High sweep. Trend is up, no doubt. But you need to

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$BTC Sitting at the range low and 4H 200MA/EMA. Until $82K is lost this is still a strong support area. Above $84K the bulls will be back in control as this moves back to the mid/top of the range. Doesn't hurt to just wait for either $82K or $84K to give in and then reassess.

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$BTC Starting to move higher as shorts are closing out or getting squeezed. Like I said, a lot of derisking and uncertainty has happened already into this week. If nothing happens then the base case is a grind higher I think. But we're yet yet to see a lot of events unfold.

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$BTC State of the market and my view: Funding rate remains positive, heavy spot selling from Coinbase with the deepest Coinbase discount in 2 months, Open Interest keeps rising. Meanwhile price is just slow bleeding as dip buying longs keep getting squeezed. For these moves to

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$BTC Still chopping around right at its major high timeframe resistance level. Price has been slowly grinding lower and FOMC is coming up on Wednesday. In my opinion, I do still think that at least sweeping that $83K level makes sense from a liquidity perspective. So even if

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$BTC Still consolidating right around its previous highs. During the down trend, these were the signals to be careful of every time. But in the past few weeks/months, the bigger market structure has flipped bullish. So that's a big difference to note in today's scenario.

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$BTC Still sitting at its big support & resistance level. This has been the 3rd drawdown of 7% or more since the local bottom at $58K. RSI levels have been reset and sentiment is quite neutral overall. So that's positive. In terms of price action, the trend is still clearly

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$BTC Still sitting at the main support & resistance level. It has been choppy the past few weeks and price essentially unmoved in ~50 days now. We are also entering the earnings season. This was a very choppy time period last quarter in July as well. We'll see a decisive break

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$BTC Still sitting right at the August lows and 4H 200MA/EMA. Price flat on the rate hike. Presser up next. But most importantly, after this we cleared out two big events that have dominated price action the past week. Getting them out of the way, regardless of outcome,

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$BTC Still yet to really test the shorts that came in above the $82K region after the hot CPI report on Wednesday. I suspect price will start squeezing once it tests the entry of the majority of those shorts in the white box. Because most of those positions are still comfortably

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