Those following the previous chapters in BTC will know we have been expecting a test of the highs all year long;
Here we are tracking a final leg before we enter into the next chapter with Bakkt. There is no rush for the leg up, it is only a matter of time before it comes. To put simply, this is a very advanced technical call taking advantage of soft retail attempting to bet on the floor ahead of Bakkt. We are going to sweep the lows and clear the board in a healthy reset.
USD devaluation in the next couple of weeks might appreciate BTCUSD
ridethepig
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@ArnaudKleinveld, expecting an underlying USD bid to remain until we clear Fed
Deep-Peat-Shark
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@ridethepig, Yes, I hear that a lot, however concluding like that gives me the feeling one overlooks macroeconomics. Seasonal behaviour has big impact on the timing of such events and it would be difficult to shift these macro cycles in time. Outcome from the FED would cause instant speculation price changes but the long term effects will only be seen later. My honest personal opinion though, what do you think?