BTC bottomed or is downside still valid?
Update: Maybe I was wrong. BTC trying to breakout falling wedge. It went from 46k to 49k in a flash.
Bearish scenario: My previous thesis for 40-42k Pitchfork green line proven support is still valid unless BTC breaks above 50k.
Bullish signs: BITO & SPY just made an ISLAND REVERSAL. Maybe the Dec 20 fear is just overblown.
Various signs to consider: VIX returning from 30 back inside the 20-15:positive range for rallies in the next 30 days.(Santa may be late but still coming)
VXX, a measure of the volatility of VIX, turned down at 30 & now returning to 20....a calming before the storm?
HYG high yield Treasury dropped to 86 when SPY was near ATH, a warning DIVERGENCE that I missed. But 86 is a good support so may that is a risk-on sign again for the risk assets like BTC & stocks....explaining the Island Reversal.
This is not financial advise...just my analysis.
If it helps pls follow & like.
Bearish scenario: My previous thesis for 40-42k Pitchfork green line proven support is still valid unless BTC breaks above 50k.
Bullish signs: BITO & SPY just made an ISLAND REVERSAL. Maybe the Dec 20 fear is just overblown.
Various signs to consider: VIX returning from 30 back inside the 20-15:positive range for rallies in the next 30 days.(Santa may be late but still coming)
VXX, a measure of the volatility of VIX, turned down at 30 & now returning to 20....a calming before the storm?
HYG high yield Treasury dropped to 86 when SPY was near ATH, a warning DIVERGENCE that I missed. But 86 is a good support so may that is a risk-on sign again for the risk assets like BTC & stocks....explaining the Island Reversal.
This is not financial advise...just my analysis.
If it helps pls follow & like.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.