As previously noted in the first part, ETH contested that upper red channel, couldn't break the blue and as of yesterday, had difficulty maintaining the .236 level.
I expect that many traders are scared at the moment, as another Weekly Doji candle is forming on the
TOTAL
. Into late Friday sessions, we saw DXY soar as ES futures bounced off the previous 4115 resistance set in late July. It will be an interesting futures open in a few hours.
Since BTC is looking to flip it's VDVR resistance into support, I imagine that most high IQ traders are long BTC here and waiting to add more fuel to fire, despite the sharp rise in
BTCUSDSHORTS
at the start of this past week. I think noobs are scared by the possible regulation which won't take hold until the end of this calendar year at the earliest.
I'm still expecting heavy volatility between the 20th and the 22nd. Many memes on twitter about the power of the moon would coincide with a pump to the intersection of my fib levels on the ETH chart. If we see a cloned BTC rejection again at the intersection on the last moon cycle (Sep 6-7), I'd be scared despite anticipating volatility.
Ultimately, while ETH and TOTAL will largely move based on BTC movements, it still feels like the federal reserve's regime over the market is not over. You can see the
RRPONTTLD
(or a similar overnight repurchase ticker) overlayed on the Total chart. As long as they're buying and levels aren't lost in legacy markets, most will posit a goldilocks regime, leaving me to opine that I don't see why Crypto should dump...
I expect that many traders are scared at the moment, as another Weekly Doji candle is forming on the
TOTAL
. Into late Friday sessions, we saw DXY soar as ES futures bounced off the previous 4115 resistance set in late July. It will be an interesting futures open in a few hours. Since BTC is looking to flip it's VDVR resistance into support, I imagine that most high IQ traders are long BTC here and waiting to add more fuel to fire, despite the sharp rise in
BTCUSDSHORTS
at the start of this past week. I think noobs are scared by the possible regulation which won't take hold until the end of this calendar year at the earliest. I'm still expecting heavy volatility between the 20th and the 22nd. Many memes on twitter about the power of the moon would coincide with a pump to the intersection of my fib levels on the ETH chart. If we see a cloned BTC rejection again at the intersection on the last moon cycle (Sep 6-7), I'd be scared despite anticipating volatility.
Ultimately, while ETH and TOTAL will largely move based on BTC movements, it still feels like the federal reserve's regime over the market is not over. You can see the
RRPONTTLD
(or a similar overnight repurchase ticker) overlayed on the Total chart. As long as they're buying and levels aren't lost in legacy markets, most will posit a goldilocks regime, leaving me to opine that I don't see why Crypto should dump...