StormTrading

🔴 Bitcoin's open interest has slightly decreased from yesterday's peak, but approximately $250 million in positions remain from those initiated on Sunday.

🔴 $BTC.D Clean price action around these horizontal levels. Main area to watch for next is 57%. I assume #Bitcoin Dominance will still make another push upon a potential ETF approval. I think it should top out (locally) shortly afterwards.

🔴 #BitcoinOpen Interest slowly rising during the weekend. Usually this is a mixture of longs & shorts and both tend to get taken out on Sunday with some small wicks.

$BTC / $USD - Update #Bitcoin Zooming out, this range and it's levels have been super clean. Experiencing it on a day to day basis with all the news, fud etc it was a different story though... Just shows how these higher timeframes are so valuable and good to never lose the bigger picture.

$BTC / $USD -Update #BitcoinOpen Interest is at it's lowest levels since 2023 after the big short squeeze the past 2 weeks. Usually this means we see some sideways action to generate some fuel again on both sides before making a next move.

🔴 $BTC / $USD - Update #Bitcoinis at it's highest 4H RSI since June. The rally that time around was due to the $BTC ETF Filing by Blackrock.

🔴 $BTC / $USD - Update #BitcoinArrived at the 2023 range high. Whether the trend continues or not will depend on whether $BTC can break through this 31-32K area. If it does, that leaves room for much more upside after.

📊 #BitcoinQuite a few positions entering already during the weekend. Often these just end up getting chopped up on Sunday where both local highs/lows tend to get taken out.

🔴 #BitcoinRough Low Timeframe range I'm looking at. $28K remains an important level on the higher timeframes and the bulls should hold that on the daily/weekly. Until then, this is just chop until either 28K or 29K is broken.

🔴 #BitcoinWe've tested the $25K excessively but as of yet it failed to give in. The 31-32K region has also been a hard level to break through earlier in the year. Which high timeframe horizontal are we heading to next? Currently right in the middle.

🔴 #BitcoinOpen Interest increasing

🔴 #BitcoinAfter closing in the bull market support band last week, we've now fallen below it. Still no convincing close above or below for some weeks now as we trade right around the area.

🔴 Cryptocurrency enthusiasts witnessed a compelling move as Bitcoin ($BTC) confidently breached the $26.9K level and engaged with the monthly open. In the event that the daily open is relinquished, a potential exploration of the lower range appears likely. Amidst this scenario, a robust stock market opening today may offer a stabilizing influence on Bitcoin's price, as the interplay between traditional financial markets and the crypto world unfolds.

🔴 #Bitcoin Low Timeframe Range to watch for today and possibly during the weekend. Pretty straight forward. Break above/below and expect another leg. Sweep and there could be a trade towards the other side of the range. So far the highs & lows remain untouched.

🔴 $BTC.D Got to the level where the $XRP Lawsuit win news came out. This caused a big altcoin rally at the time and also marked the 2023 top so far for $BTC and many other coins.

🔴 #BitcoinOpen Interest back into the region where we've seen squeezes occur (on both sides). Big move soon?

🔴 #BitcoinInteresting how we've only seen OI increase as price has dumped over the past couple of days. I'd argue this is a mix of longs & shorts and it's up to spot to lead. I think moves above 27K will be met with short covering. Below 26.5K is the danger zone for longs.

🔴 #Bitcoin Big walls are playing both sides for the past few hours. Big positions filled on both sides seemingly. That's why I think once one side gives up it will cause for a rather big move. Doubt we stay around this price area for much longer.

🔴 After being the main exchange that saw #Bitcoin Spot bid at the start of October, OKX has recently been pretty heavy on the spot selling. CVD Can give a skewed few as it can show as red/negative if there's for example passive bids scaling in which are being sold into. Vice versa

🔴 #BitcoinCreeping up into that $8.7-$9.1B total Open Interest region again where we've seen squeezes occur the past few weeks. Almost every time it went like: Short squeeze -> Longs ape in -> Spot starts selling off -> Longs get squeezed and the bulk of the move retraces.

🔴 $NASDAQ Still following the plan. Now nearing in on the upper trend line of this falling wedge. Not sure if this pattern has matured enough to see a break out yet. I would assume some more price action around this area first.

🔴 #BitcoinConsolidating after yesterday's buyback. Slight uptick in Open Interest and funding rates moving down. Open Interest still down from last week's highs so nothing crazy going on there.

🔴 $LDO Held up decently the past few days. Still chopping around without clear direction. It's important to keep holding above 1.54-1.57 to keep some form of momentum going. Horizontals are the areas to watch for. Needs to clear ~$1.73 to really get going. Patience until then.

🔴 $ALTS RSI Heatmap Seeing some big moves across the alt sector. These Moves seem to be rather random and mostly consist of big short squeezes on a variety of names. Mostly older coins as well.

🔴 This Wednesday and Thursday we get our monthly PPI & CPI numbers again. As always with these inflation data, the lower the better for the market. High inflation prints now would really not be great with these already inflated bond yields. 📊