Basically going to bed now so I can’t make this a long thread, but re #bitcoin $BTC price here (32k):
- Funding rates are apesh1t crazy
- Futures heavily contango
- #tether price > spotprice in real $ (implying harder for Paolo to keep pumping)
- Orderbooks quite empty
...
- Funding rates are apesh1t crazy
- Futures heavily contango
- #tether price > spotprice in real $ (implying harder for Paolo to keep pumping)
- Orderbooks quite empty
...
- Price action looks similar to a blow off top (short capitulation)
- Bubble roof target almost met (its 5% off the current ATH)
- all the action took place on holidays (lower volume)
...
- Bubble roof target almost met (its 5% off the current ATH)
- all the action took place on holidays (lower volume)
...
In summary - this could very well have been the local top that leads to one of $BTC s patented 30% reversals. I still think $23-24k will be tested, but maybe $27.8k is enough. I watch funding rates mostly to see if we have kicked excess leverage or not. Invalidation: new ATH
Whether or not this becomes a local top, I don’t think it ends the bull market as central banks still print and only they will end it. That is UNLESS there is a big regulatory action vs #tether or a large exchange coming which would be brutal.
All this is not advice and it s also good timing as invalidation is only 4% away 🤷🏻♂️. A new $USDT send to #binance might do it.
Still thought I d share. If you want to understand better what I describe here, it’s all in this article:
link.medium.com/LLojPi3eJcb
#bitcoin $BTC #crypto
Still thought I d share. If you want to understand better what I describe here, it’s all in this article:
link.medium.com/LLojPi3eJcb
#bitcoin $BTC #crypto
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