#Bitcoin finally broken & closed below the range. $DXY is looking strong & #Tradfi looks weak, so I think we see those lower level targets hit soon, with tradeable bounces on the way.
No real change on the higher time frames for #Bitcoin. A test up to 22.9-23k is still possible before a further leg down to claim the liquidity below. Similar to last week grinding up, with stops building below on every HL, just ripe for the taking.
Not much change in the low time frames for #Bitcoin since the update yesterday. I'm still looking for lower before a bigger bounce. 20K's looks likely but will that get hit this week or do we have to wait for the CPI #'s next week for the next big move?
#Bitcoin finally got the push back up to retest the high 22k levels overnight taking all the liquidity from the late over leveraged shorts. I'm still looking for the Feb lows to get swept, but if #BTC were to close & hold above the mid range, then my bias will shift
So it all hinges on today's CPI prints. With all the #BUSD FUD and regulation talks, a hot CPI would be a good catalyst to start the next collapse of the Crypto house of cards. Any high time frame closes below 20k and #Bitcoinis likely revisiting lows.
#GM#Crypto New month and the FOMC today. You do have to admit that's a pretty impressive Monthly bullish engulfing candle for #Bitcoin Today we see volatility, so no high leverage pls.
Using the #1 Distribution Schematic on #Bitcoin, If this push falls back into the range, then maybe we have the UTAD. Lets see what happens when CME opens later.
My #Bitcoin bias still remains as it ranges around 23k. A larger correction down to 21.5k and as low as 20.5k is most likely IMO, especially with the Core PCE numbers later today, which i think will come in slightly above forecast, & hence weigh on Risk assets.
Nothing has change in my plan for the last couple of days, in fact the fact #Bitcoin has dragged out and down since the start of the week, make it less likely to have that smaller degree wave 5 up before the bigger correction, & just look at #Ethereum
#GM#Crypto#Bitcoin has swept the September lower High & so far rejected. I'm still looking for the pull back into the low 20K's & a retest of the Daily 21 EMA before any continuation. Momentum is dropping, so a pullback is logical, but u don't always get you what u want.
#GM#Crypto So the pull back has started, i am still looking for lower before any attempt to break back above this weeks high on #Bitcoin. For bulls they want a shallow retracement, anything below 19.3k & #BTC starts to move to a bears bias. Trade #SAFU
So we got the sweep of the high / SFP on the LTF over night, now we wait to see if #Bitcoin is going to fill the CME gap and some of the inefficiencies left by the move on Friday.
It could just keep blasting up, but $DXY looks like it may be ready to bounce.
Using the #Bitcoin CME chart, its a clean sweep of the range high SFP. I'm looking for more profit taking into the FOMC at the start of Feb, then we wait to see if there is continuation or the FED look to crush the market rallies.
#GM#Crypto#Bitcoin is coiling up with low volatility, like most weekends. The Key for me will be what happens at the CME open later this evening. I think a pull back into the open at around 19.8k is likely.
⚠️A H4+ close below the 38.2 would point at lower targets.
#GM#Crypto As the dusts settles on the markets post CPI, i think we are going to see some profit taking & repositioning for the Feb FOMC meeting in 3 weeks.
Both #Bitcoin & #ETH need a cooling off period, so a pull back today into the weekly close is likely.
Critical level for #Bitcoin, break here and accept back in the Q4 2022 range and the mid 20k is a good possibility. Reject hard and we are likely to see 15K's or lower. All hinges on CPI data later today.
What a day we have today CPI and #Bitcoin is back above 18k. #ETH is hitting resistance and we are likely to see moves in both directions today before CPI as people position for a bigger move. Do we get a pull back to fill the FVG's left from the overnight move?
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