Thread by @nap_trader

#Cryptocurrency Market/#Bitcoin Market Analysis 9/5
I just got back from a nice vacation (Yay), so I'll keep this one short and sweet. A number of people think Oil is going to be the trigger for Bitcoin moving, and I will say it's quite silly.

Let's sum up what has happened in brief links:

https://twitter.com/finanzru/status/1566361762710126593

Russia: "Why can't we pull out our $100b in China?" But hey you know, #BRICS ever so strong except when reality comes into play. Here's google translate:

"#China "took hostage" $ 100 billion of #Russia's reserves By investing 17% of gold reserves in the #yuan, the Central Bank stated that it was de facto impossible to withdraw money from Chinese assets. To use the yuan, you need permission from China"

Seems in the end, BRICS is all about everyone's self interest. Funny how different that is than the US + EU working together, isn't it? A bit more like...Turkey? Why do I mention this? Because this is going to impact DXY.

$DXY, a reminder: Inverted H&S going back to 1968 or a triple bottom, or a rounding bottom. Yeah. We're not talking some tiny play here, we're talking end times for anything not USD. tradingview.com/x/r3gpW2ur/

What else do we have? BTC playing some games after market close today, eager to fake people out after holidays. Not quite bullish but whatever. tradingview.com/x/VGYWOwMe/

Liquidity hunts like this are just stupid, but you can tell that people are desperate for liquidity, such as #Binance, who says "BUSD is what it's gonna be". - coindesk.com/business/2022/…

Considering the regulations play here I'm not sure if this is just simplification (which is okay) or attempt at marketshare or something else. Mind you, they have BUSD discounts on trading for non-#Americans as usual.

Crypto Market looks absolutely primed to drop, hard tomorrow. Rip calls and hello puts, as this implies SPY is going to drop as well. binance.com/en/futures/fun…

#Bitcoin #dominance ( $BTC.D) is playing games as usual, but is looking like what happened during may of 2018, approx and sitting on supports similarly. Time will tell which way it plays out this time as dominance continues to bleed. tradingview.com/x/2hjP3qs9/

Does that look the same for the market? No, it looks much, much worse. tradingview.com/x/EBuNY4Hg/ This is max ugly right now across basically every indicator I have ever looked at.

Don't forget this week is CPI and plenty of events to change direction as desired. I expect it to be plenty hostile to any non-trader as usual, but I don't see anything showing bear market is truly over or anything of the sort.

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