you can say this was an abcd correction
you can say it didnt pass the 50ma or whatever ppl use on 1 / 4hour
you can say it was long weekend mess blah
in the end we consolidated, went up to tap the stops as in so many times before.
we dropped a few hundred $ not bad, was quick tho.
argument: but ppl are still scared, and this drop shook people more than normal.
counter : bitmex open interest is getting back, more players are interested. Quite a few large longs got raped on okex and bitmex on this relatively small drop.
i have a feeling, partly due to this being monday, that we spend a decent retrace back up this week to 6.8-7k depending on the exchange. if we dont get past the 6700 bottom area of the recent consolidation bottom, i would guess 62/58 next targets to the downside.
fear greed index has been especially low lately, so has mex vol.
i noticed stamp, bitfinex didnt have alot of vol on this drop compared to prev candles. CB however had more, also the vol voids are more visible. what does it mean? we can all make our own narratives, im not sure.
lets watch legacy markets, no doubt btc will follow, or maybe even lead.
bitmex chart
also watching eth and xtz to see whats up with most alts.
you can say it didnt pass the 50ma or whatever ppl use on 1 / 4hour
you can say it was long weekend mess blah
in the end we consolidated, went up to tap the stops as in so many times before.
we dropped a few hundred $ not bad, was quick tho.
argument: but ppl are still scared, and this drop shook people more than normal.
counter : bitmex open interest is getting back, more players are interested. Quite a few large longs got raped on okex and bitmex on this relatively small drop.
i have a feeling, partly due to this being monday, that we spend a decent retrace back up this week to 6.8-7k depending on the exchange. if we dont get past the 6700 bottom area of the recent consolidation bottom, i would guess 62/58 next targets to the downside.
fear greed index has been especially low lately, so has mex vol.
i noticed stamp, bitfinex didnt have alot of vol on this drop compared to prev candles. CB however had more, also the vol voids are more visible. what does it mean? we can all make our own narratives, im not sure.
lets watch legacy markets, no doubt btc will follow, or maybe even lead.
bitmex chart
also watching eth and xtz to see whats up with most alts.
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have too many chart layouts open, dunno why the mas there, i never use them in case anyone was wondering
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everyone including myself is looking for this. not sure if we just dump more...or miracle/scam pump? good question.
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