Bitcoin/Cryptocurrency Market Analysis 8/12
This will be a simple one for the weekend. I don’t see much there. Nothing has changed. We’re bullish on low volume and it’s heavily contested.
Funding data shows longs fading on this pump and/or over the last few days, so that sounds like it’s time for whatever comes next to happen. 50/50 on accumulation or get the fuck out, a lot of people are expecting a drop and I’m still not convinced. Over that yellow MA is another story if a lot changes, but honestly the market is looking for a top right now, not a bottom.
So for me, I’ll sit in cash, relax, not be too worried. Markets are closed for the weekend. we’ll see if BTC tries to gap outside of the CME, which I do suspect. CME closed at 24.2k, so at a minimum anything above that this weekend is going to re-tap 24.2.
I think we’re going to see some yield inversion + dxy moon, but it’s a matter of time.
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