As we can see the 3D indicator technicalls have taken a sharp dive downward, a clear break of the upward momentum.
Now we refer back to the trend and what has played out during such times, the prelude to a 50-60% approx. drop in total value.
That would take Btc back to the 11'400-8000 range, imo the golden buying opportunity.
WHAT to consider in the Macro environment
1) CME derivatives for ETH launch 12th Sept - not historically a bullish signal
2) Stock market is correcting further, but also may very well be leading into a depression hence will see another big side IF inflation does not begin to actually fall.
3) Beware sept, historically it is a disastrous month for bitcoin and also the market as a whole - will this be an exception? not likely.
4) the stock market is yet to see a capitulation event, as BTC is tracking the stock market also but in a weaker manor we should expect the same and that is also yet to be seen in any-case.
Hold shorts for the 16-18k bounce, take profit/long.
We then assess if the bounce is significant or as i suspect will be not, then re short in the 20-22k area for another almighty dump in mid Sept.
Goodluck
Asset Mastery
Now we refer back to the trend and what has played out during such times, the prelude to a 50-60% approx. drop in total value.
That would take Btc back to the 11'400-8000 range, imo the golden buying opportunity.
WHAT to consider in the Macro environment
1) CME derivatives for ETH launch 12th Sept - not historically a bullish signal
2) Stock market is correcting further, but also may very well be leading into a depression hence will see another big side IF inflation does not begin to actually fall.
3) Beware sept, historically it is a disastrous month for bitcoin and also the market as a whole - will this be an exception? not likely.
4) the stock market is yet to see a capitulation event, as BTC is tracking the stock market also but in a weaker manor we should expect the same and that is also yet to be seen in any-case.
Hold shorts for the 16-18k bounce, take profit/long.
We then assess if the bounce is significant or as i suspect will be not, then re short in the 20-22k area for another almighty dump in mid Sept.
Goodluck
Asset Mastery
コメント:
On the topic of when we bottom, do not expect a monster green candle given price will likely range in the 14-20k area (something like that) for some time. We need overall market sentiment to return back to bullish which requires inflation/rates to be settled - don't think the bulls are returning until late 2023/early 2024
