Gm and happy Friday! ☕️
Bitcoin update & Hyblock Heatmaps BTC has broken below the range low, so we’re headed for one of 3 scenarios:
1. Short deviation / higher low
We already had the huge liquidation event for Bitcoin a couple of days ago.
What was missing was the real flush in ETH and altcoins - now the major downside liquidity is hit and the whole crypto market can resume higher. Makes the most sense to me sentiment-wise.
2. Hit the liquidity below the last low at 107k.
This would correspond with a bounce from the daily 200 MAs in the area 104-107k. Makes the most sense to me chart- and liquidity-wise.
3. Deep correction to the weekly EMA50. With stocks at ATH I don't see a reason yet why BTC should go this low - but in crypto, everything is possible.
Overall I expect a bullish October - why?
We are in week 34 of the current 4-year cycle and should see the weeks with the most gains soon.
We just saw the beginning of the rotation from Bitcoin into large-caps.
A blow-off top alongside stocks and gold makes the most sense to me.
Have a great start into the weekend!
#PCEInflationWatch #MarketPullback