฿ Bitcoin BTC/USD Daily Video, January 04, 2024

Sive Morten

Special Consultant to the FPA
Messages
18,646
Good morning,

Sharp BTC reversal on rumors from no-name source shows market nervousness and exhausting of ETF driving factor. We suggest that before direction could change - BTC, due to strong downside momentum could try to touch ~41K area again:

 
When i saw BIG Jump on Tuesday i suspected this to be 'Bull Fakout'. I did not take short position as i don't normally trade BTC. I will monitor PA today/tomorrow as i still think there is good Sell Opportunity as i think oversold on Monthly chart. Targets back down near $35K.
 
When i saw BIG Jump on Tuesday i suspected this to be 'Bull Fakout'. I did not take short position as i don't normally trade BTC. I will monitor PA today/tomorrow as i still think there is good Sell Opportunity as i think oversold on Monthly chart. Targets back down near $35K.
Maybe, in general downside action here looks logical. But right at this moment - it seems that this is not our game to play as market turns to absolute mess, with 2.5+K daily volatility. It seems that somebody shakes the boat and want to shave hamsters right to the skin
 
Wait for end of week PA on weekly Candle..before taking any positions..but i will not trade BTC unless very clear Set-UP! :rolleyes: Too much speculation around ETF and other News etc..:rolleyes:
 
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