On Wednesday, I will have the honor of receiving this award, where thanks to the votes from the Community that supports me, I was among the top 20 globally for the biggest award in the crypto universe.
I am truly very grateful to all of you who trust in my work! Thank you 🙏
At some point, the altcoin market will turn, just like the $BTC
However, until that happens, the meltdown should continue. Here, I have significantly reduced the risk. Cash is high, waiting for a better moment to increase risk. And what about you?
The daily chart is terrible, the 50-week moving average has been broken, as well as the support.
After the initial break, the price frequently tests the moving average from below again. If the retest fails and the price cannot return above it, a more pronounced drop and a long-term downtrend should be expected.$BTC
With the end of the longest shutdown (halt in various segments of the government) in U.S. history, we will once again have relevant data for the markets regarding economic activity, such as employment data.
It is not the already anticipated end of the shutdown that affects asset prices, given that every expected event is already priced in, but the actual data, when it comes in above/below market expectations.
These data influence positively or negatively future interest rate decisions and movements in stock and crypto markets.
After 43 days of shutdown, everything begins to be gradually resumed.
When the teams return, there is a race against time to process the accumulated data. Historically, the BLS takes 7 to 14 days to publish delayed reports; in longer shutdowns, such as in 2018/19, some series were consolidated in the following month.
Many liquidations, whales sending crypto from wallets to exchanges in a clear sign of selling and pessimistic market sentiment after Powell's statement about the possibility of not cutting interest rates in December.
It was a bucket of cold water, taking the momentum out of the exchanges as well.
But where can the knife stop falling? The strongest support is in the range of $102-104k.
The bear market zone (major downward trend) at this moment is at $98k.
If BTC shakes during these hours, altcoins do much more. Be very careful with leverage, both ways. Volatility has returned.