Nimble Crypto
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Bitcoin Binance Breaks $500, Can They Break Sunday?

BTC Binance shorts increasing while liq map shows increasing high lev longs close by. Funding rate shooting up with barely any high lev short liqs, indicating large volume low lev shorts while high lev longs pile in....

I don't expect BTC price to close Sunday far from CME's Friday close. After that, we have a larger timeframe backtest of the breakout as only had a quick wick + now have mounting high lev longs. Bearish div on 2h MACD + RSI + highly over-extended Adv Stoch....

This is going to an interesting week because of Mid Term's potential red wave + CPI. If DXY continues down BTC may just follow that regardless of indices, which will react to CPI. Then FED in Mid Dec. We'll have to be prepared for delusional bulls till then....

There are delusional specs about China opening up, which were slammed down by officials, at least temporarily. In any case, this would cause inflationary pressure due to increased use of energy.

China to ‘Resolutely Adhere’ to Covid Zero as Cases Rise

China won't budge until it has a way not to lose face. It won't just back down on its policy coz of domestic pressure. This is a social engineering effort; they very well know it is a failed policy. But they need a way out that is confluent with their geopolitical objectives....

Here...

This post is based on this twitter thread.

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