Cryptostarbot

Let’s get it. Happy Monday!

Let’s get it. Happy Monday!
It’s a brand new week, and you know what that means — fresh market moves, new setups, and the bots are back in action!

Drop your questions — the team is here!

Where will BTC stop?

The direction of the entire market depends on the movement of the first cryptocurrency.

Currently, it’s deciding which of two scenarios Bitcoin will follow:

1). The first is positive.
In this case, Bitcoin will hold the mirror zone around ~$112,000 to ~$113,500. From there, the final segment of a compression pattern will form — the right shoulder of an inverted head and shoulders pattern. This would resume the bullish trend.

2). The second is negative.
If the zone between ~$112,000 and ~$113,500 fails to hold, a drop is expected with a target of around ~$107,000 to retest the low and clear liquidity below.

☝️ Overall, everything depends on Bitcoin’s reaction to the ~$112,000–$113,500 zone. Watch closely in the next couple of days.

WHY IS THE MARKET DUMPING?

BITCOIN JUST DROPPED IN A MATTER OF HOURS, WHILE ALTS DROPPED 5%-10%.

HERE ARE A FEW REASONS BEHIND THE MARKET DUMP.

1️⃣ NVIDIA DUMP

● TODAY, CHINA SAID THAT NVIDIA HAS VIOLATED ANTI-MONOPOLY LAW.
● THIS CAUSED A DUMP IN NVIDIA PRE-MARKET, WHICH ALSO BROUGHT NASDAQ FUTURES DOWN.
● AND BECAUSE CRYPTO FOLLOWS NASDAQ, A DUMP HAPPENED HERE TOO.

2️⃣ LEVERAGE FLUSH

● RECENTLY, BITCOIN OPEN INTEREST HIT A NEW ATH WHILE PRICES ARE STILL DOWN 7% FROM ATH.
● THIS SHOWS THERE'S TOO MUCH LEVERAGE, AND WHALES USUALLY FLUSH THEM BEFORE THE NEXT MOVE.
● DURING TODAY'S DUMP, BITCOIN OI HAS GONE DOWN BY $2B, WHICH IS A GOOD SIGN.

3️⃣ MARKET DE-RISKING

● THE FOMC RATE CUT DECISION WILL HAPPEN IN 2 DAYS.
● IT'S ALMOST CERTAIN THAT THE FED WILL CUT RATES BY 25 BPS.
● BUT MARKETS ARE DE-RISKING, PROBABLY DUE TO POWELL'S HAWKISH STANCE, AS CPI IS NEARING 3% NOW.
● THIS OFTEN HAPPENS BEFORE A BULLISH EVENT, SO THERE IS NOTHING TO PANIC ABOUT.

𝗠𝗬 𝗧𝗛𝗢𝗨𝗚𝗛𝗧𝗦
● NOTHING GOES UP IN A STRAIGHT LINE.
● ALSO, BIG MONEY IS TRYING TO GET BETTER ENTRIES BEFORE BULLISH Q4.
● ALL YOU NEED TO DO IS HODL AND WAIT.