Thread by @nap_trader

This is the problem - everything ties together, in some ugly ways.
#Cryptocurrency Market/#Bitcoin #Market #Analysis 8/30

First, let's do some TA. tradingview.com/x/lmjBtqFy/ - we have a macro inverted head and shoulders on the quarterly DXY. So....that's possibly a year, two years? More? Not going to be bullish for crypto, for sure.

Next, we have 3 month BTC - which is just starting to turn for the first time in a long time. Yep....tradingview.com/x/s7Z7H7ok/

Catch is, that's bitstamp for reasons of macro viewing, so let's look at volume from #Binance, who leads the market. tradingview.com/x/aw3oea96/

This is not a happy 3 month, even with a month to go there is nothing that would not confirm further down short of BTC closing September above 33k.

Meanwhile, BTC.D continues to bleed. A reminder of course, that so far this is letting alts run more than anything, as people are praying for alts more than #BTC. Which is okay so long as you ignore what's likely to happen.tradingview.com/x/oAC3WKXC/

Should BTC.D correct as I have warned many, many many times - it would be heading towards either the end of this market cycle or the end of the crypto #bubble, as a whole. Time will tell how far the doom goes.

Meanwhile, what does Binance want? They want you to be their exit liquidity.

https://twitter.com/cz_binance/status/1563713718902558720

This is "please buy the following from us so we can exit".

On the flip side, a reminder that the Tornadocash scenario is messy (eff.org/deeplinks/2022… from EFF on the free speech issues), but that it wouldn't be if it weren't for as acknowledged - that both North Korea and Russia are involved.

This is where people get silly and claim new world order, as well. Russia and Iran of course are happy to get Cryptocurrency, especially through Tornadocash.
cointelegraph.com/news/russian-p…

Do I expect that to work out for them? lol, no. washingtonpost.com/business/2022/… This is why they want you to be exit liquidity - because nobody wants to be. And why they're trying to turn to third world countries for crypto adoption.

Don't be the bagholder on the way down.

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