52kskew-1

$BTC
Market consolidating here just under HTF supply & resistance

Two notable points:
- asks have moved closer to price
- orderbooks remain skew to asks

when asks move closer to price often it's to front run HTF levels

orderbook depth & skew does influence risk taking as well

don't think market will be vocally bullish still we trade back above $110K but that being said keep note of the passive flow leading price

I post frequent flow & market updates in the trading talk channel in cantina

you're missing out if you aren't in the cantina
http://discord.gg/cantina

PS $107K key price for today's direction

$BTC
Update:
$103K will be the level where market fights for trend
- previous support
- market supply

Closes today will be important imo

$BTC
Houston we have a problem

Keep in mind this is a weekend move thus far but highly important area here ($102K - $100K)

Gm

What's everyone doing this weekend?

Personally going to be spending the weekend working on passion projects & charting up some plays for next coming weeks

let me know if you guys want some chart updates later

$BTC
Update:
Same market entity strikes again leading to another flush to pre-FOMC low

Market positioning continues to decay with declining OI

Notable Perp CVD divergence here which has been created from a combination of new longs & shorts closing out

Given today's price action, shifting my focus towards $105K as the needed price area to auction above for sustainable upside

$BTC
Update:
Market reacting so far positively off headlines of de-escalation (we see though)

Orderbooks are skew towards bid depth
- More bids closest to price vs asks

Perp positioning is pretty short with all the stacked defensive positioning here

however some initial longs opening post headlines here

FOMC later as well

$104K is the price
Let the fight begin
$BTC

$BTC
Price now trading towards aggregate spot bid liquidity
$104K - $100K (Spot Demand)

$BTC
So far this has been pretty well managed by the market
- no uptick in market vol yet
- avg volume
- no panic positioning yet

For a 3% or so pullback so far market isn't panicked yet, although on LTF there's clear hedge bias

Previous dips were 5% or so but had aggressive shorting, spot selling & uptick in volatility with sell momentum/Volume

So this means the big move has yet to occur & is brewing

$BTC
GM looks like i missed some action & big tonality changes

Market clearly pricing in & reacting to further escalation here with weighing odds of US involvement against a nuclear interest (Iran)

Market flow changes:
- spot de-risked ($108K -> $106K)
- shorts that chased price yesterday took profit
- Currently shorts are opening into price weakness

$BTC
Update:
Price now testing first cluster of asks around $108K - $109K
~ Market supply

Shorts have chased price higher all day & are now offside especially if price maintains momentum higher from here leading to a short liquidation event

going into US close & Asia session spot flow will be the deciding factor of the market

Shorts getting margin called at your local exchange

So many charts & setups looking like pure art

again though entire market is gonna require BTC to full send for setups to successfully play out

$GOLD 4H
gold remains pretty strong here & decent looking chart

could explain the passive bid on BTC currently

gold marching higher from here would expect further escalation against Iran
~ likely striking their oil facilities

$GOLD 4H
gold remains pretty strong here & decent looking chart

could explain the passive bid on BTC currently

gold marching higher from would expect further escalation against Iran
~ likely striking their oil facilities

$BTC
Pretty muted market response so far despite impacts deep into Tel Aviv

Keep an eye on what gets hit next in this third wave of ballistic missiles

Current market demand is around $103K - $100K
Current market positioning is flat (surprisingly)

Will be dropping some crypto cantina exclusive indicators over time

Feel free to join the next best crypto community
https://t.co/5ImfYvMJdd

Step 1
Read Rules & react/click on the ✅to join the cantina

Step 2
Head to the 📚resources channel in the Cantina section for access to Complete EMAs & MAs

tbh about the expected % decline in reaction to pre-emptive strikes thus far

probably a bit more with a response from Iran, at least that's what we saw previously

$102K - $100K still most important area to hold for $BTC & rest of the market

Bigger washout may come with greater escalation than the market currently expects

At this point it's a matter of when traditional finance & the old system caves to new age finance (crypto & stablecoins)

not if

increasing fiscal & deficit problems globally
increasing efforts to push for global reach on taxation, this won't solve much

Traditional finance is late stage & on it's way out now

they know this as well

CEX was the start & catalyst
DEX & DeFi is the end game & future