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Market showing don't think about SHORT or Down...
#BitcoinCrash #bitcoin #crypto #altcoin #ethreum #StockMarkets
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Alien Party Planet retweeted
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Alien Party Planet retweeted
Wyckoff distribution pattern:
It is too early and still needs the "Phase D" for confirmation.
but good to have it in mind if happens.
#Bitcoin
Alien Party Planet retweeted
No change in FED rates.
Range remains same 4.25-4.5%.
FED has warned risks of higher inflation and slower growth have risen.
#FOMC
Alien Party Planet retweeted
$BTC Steadily grinding higher relative to equities.
This is good to see during this market turmoil as it shows some relative strength.
Bitcoin obviously did have a bad February but that was also due to the strong performance into the inauguration.
BTC just needs to hold up it's current relative strength and I think it should do well as long as equities don't completely nuke to new lows again.
$BTC vs $SPX Still the chart to watch here. This filters out all the equities weakness "noise".
The BTC/SPX ratio held its 2024 highs and Daily 200MA/EMA nicely during all the volatility.
Once equities find some sort of bottom and/or some uncertainty gets removed out of the market, I'd expect this ratio to climb higher.
Especially with bond markets showing cracks and the Bank of Japan (emergency) meeting today. Once you see signs of QE/YCC that's your cue to watch very closely in my opinion.
Don't think the Fed is likely to step in just yet but if the pain in the bond market get worse they might. That's why it's good to watch the BOJ as potential first steps.
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