StormTrading

🔴 #BitcoinSeems to like hanging around in this $8-8.5B Total Open Interest area. Any moves above tend to quickly get slammed back down by squeezing either longs or shorts (longs in the case of the picture below). I'd say anything within the box is the "healthy zone".

🔴 #BitcoinImportant week ahead! The fight with the Weekly 200MA goes on. Whether or not BTC trades above this moving average tends to be a indication of whether the market has bullish momentum or not.

🔴 Important support for $EUR / $USD. $DXY Has been on a roll lately and it's basically been up only since the middle of the Summer.

🔴 #BitcoinThis is why we don't long resistance. Daily closes will be important but I suspect we might consolidate here for a while as the momentum is lost. LTF trend still up but for that to transfer to a higher timeframe trend, the $28.2K region needs to get cleared.

🔴 #BitcoinFor some time now, the state of the market has looked like this. Breakout candle followed by a (near) full retrace to take out all the longs that aped in. Longs are scared the second time around so chill out. Only then price actually goes higher. Second attempt every time. Of course this has only started "working" the past few weeks. Prior to this we also had these full retraces but they only resulted in further downside and new lows. It's been pretty recent that these actually started going up again. What will happen this time around is of course anyone's guess! I am still keeping it simple and assuming the trend is up until proven otherwise.

🔴 So while no one actually got this right at the time... here's the answer: It was ETH/SOL but inversed. Below is the chart "regularly". So far following the idea from last tweet. I am expecting this to move to the range lows which means $SOL will gain against $ETH.

🔴 $ARB Got the retest at the green area which I wanted to see. Key to hold that going forward to keep the lower timeframe up trend. Still has to break through that diagonal & horizontal resistance at $1 to really get a bigger reversal going.

🔴 After some end of the quarter flows, it seems like the $USD Liquidity is moving back up. This tends to help #Bitcoin but keep in mind this is all very high timeframe and a rough direction.

🔴 #BitcoinWith the 3rd consecutive long squeeze down. Giving back about half the gains of yesterday's squeeze up. This recent dump was the biggest in terms of Open Interest lost with about $250M in positions wiped.

🔴 #BitcoinYesterday was a rollercoaster. Open Interest is now back to where it was before the initial short squeeze to $28K. So I'd say we're mostly reset here on both sides and that spot would have to take it from here.

🔴 #BitcoinBig area. - Horizontal Resistance - Daily 200MA - Weekly 200MA Closing a Daily and later a Weekly candle above this region would likely mark the start of a bigger move. Until then it has to be considered as resistance.

🔴 #BitcoinStill hanging around the Bull Market Support Band. This indicator shows the Weekly 20MA & 21EMA. It's often a good indication of whether $BTC is in a bull or bear market but has it's deviations above & below every now and then as every indicator does.

🔴 #BitcoinStill holding on to weekly support. Don't make it more difficult than it is. Zooming out often tell you all you need to know.

🔴 #BitcoinLiquidation Map: Important areas are the $26.6K and $27.4K levels. $26.6K was the previous resistance area. $27.4-27.5K was the local high 2 weeks ago which is an important one as well.

🔴 $ALTS / $OTHERS.D Update: Following last cycle's action quite well. That ~12.4% area will be an important one to break as it would mean a higher timeframe trend shift.

🔴 $ETH Slow and steady. No massive moves but it's enough to help $ALTS find some proper relief this past week. Big level would be ~0.0645 where ETH meets the falling wedge and Daily 200MA/EMA.

🔴 #BitcoinOpen Interest came down a lot as price held steady. I said it yesterday but I'll say it again, it's looking a lot healthier than any prior dumps. This does not mean this can't go down obviously. It does make it less likely to see these volatile up and down moves.

🔴 #BitcoinStill hanging around the Bull Market Support Band. This indicator shows the Weekly 20MA & 21EMA. It's often a good indication of whether $BTC is in a bull or bear market but has it's deviations above & below every now and then as every indicator does.

🔴 #BitcoinLiquidation Map: Important areas are the $26.6K and $27.4K levels. $26.6K was the previous resistance area. $27.4-27.5K was the local high 2 weeks ago which is an important one as well.

🔴 $ETHEREUM'S Open Interest is still nowhere close to what it was prior to last month's dump. After that flush, ETH's OI was back to June 2022 levels during the Luna collapse. Shows there's been a big reset. Would suspect ETH sees some more love post BTC Spot ETF decision.

🔴 After grinding up for a few weeks, USD Liquidity has since come down by about ~$100B which has in return also slowed #Bitcoin's bullish momentum. Liquidity is everything in this market so keep an eye on this.

🔴 $ARB It's slow but it's good to see these coins grinding up while $BTC has been extremely choppy. Decent up trend on some ALT/BTC pairs for the past two weeks. Obviously most $ALTS are still down bad but at least there's some life showing.

🔴 #BitcoinVolatility at multi-year lows. It's pretty clear that a large move is due relatively soon. I just think the market is waiting for some kind of catalyst to give it the spark to make the move. Likely ETF related I would assume.

🔴 $LINK Giving it another go. Has now retested the Daily 200MA/EMA back as support and seems to be holding steady. Mid range is the first level to clear. That upper half of the range has been hard to sustain the past 1.5 years so let's see how it does when price gets there.