Long hiatus from crypto... I've reentered the asset class and the current risk/reward odds here is a buy.
- breakout $1700-$1750 zone + retest of resistance-turned-support
- weekly hammerhead + confirmation candle
- macro environment suggests sentiment leans towards dovish fed in short term
- 3 quarters of fed tightening undone in just the last week ($500bn expansion)
- eyes on regulators and banking contagion
Risk/reward 1:2
Holding period 2-8 weeks
- PT1 : $2000
- PT2: $2650
- breakout $1700-$1750 zone + retest of resistance-turned-support
- weekly hammerhead + confirmation candle
- macro environment suggests sentiment leans towards dovish fed in short term
- 3 quarters of fed tightening undone in just the last week ($500bn expansion)
- eyes on regulators and banking contagion
Risk/reward 1:2
Holding period 2-8 weeks
- PT1 : $2000
- PT2: $2650
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Note: SI, SVB collapse with regional banks collateral -- illiquidity is not the same as solvency...