0/10 The market continues to move sideways in what we're calling No Man's Land. It's punishing the impatient as they jockey for position, while the rest of us wait to strike. The question is what are the signs we are looking for?
Here is a thread on those signs.. 🧵👇
Here is a thread on those signs.. 🧵👇
1/10 Ten days ago we cautioned the market was entering No Man's Land. And believe or not, we still lack certainty in the market. Here's what we mean...
jarvislabs.substack.com/p/no-mans-land
jarvislabs.substack.com/p/no-mans-land
2/10 Our in-house onchain signals have remained silent for days. Nothing bullish nor bearish coming in. Meaning market movers are on the sidelines happy to wait for the market to take shape.
3/10 USDt is drying up on exchanges with less than 2 billion Tether on exchanges, contrasting to the 60 billion USDt in the market. Concerning.
4/10 We even saw Tether burn 2 billion USDt a few days back after some chain swapping and house cleaning. First time this has happened in about six months. This highlights a lack of demand.
5/10 Times of high volatility are always followed by periods of low volatility while periods of low volatility are followed by high volatility. Implied Volatility (IV) is a way to price in volatility, and it's still coming down. It will likely need more time for this to reset.
6/10 So what is the market waiting for outside of volatility to reset? What will bring market movers and USDt demand back into the market?
7/10 Here are onchain supports and resistances. This doesn't exist anywhere else. We call is the Feeding Grounds Whalemap chart.
The white arrow is pointing to a major selling point and marks the breakdown of $50k range.
The white arrow is pointing to a major selling point and marks the breakdown of $50k range.
8/10 The green area represents the last line of defense at $35k. If we get another sweep here, price needs to hold. Otherwise, could get a bit rocky fast.
9/10 These two regions are where we expect to see signals begin to reappear. Depending on what comes through, it'll likely be the time to act.
10/10 If you like market musings like this. Read the newsletter read by over 10,000 hedge funds, financial journalists, and investment advisors.
Have a read for yourself, thanks for reading. Please retweet if you found this helpful. Have a great weekend!
jarvislabs.substack.com/publish/post/3…
Have a read for yourself, thanks for reading. Please retweet if you found this helpful. Have a great weekend!
jarvislabs.substack.com/publish/post/3…
Not market movers nor signals, just general moves.. interesting to witness the bag filling taking place at $35k.. This was over the last seven hours.
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