Last weeks high: $28351.8
Last weeks low: $27165.3
Midpoint: $25978.9
As September and with that Q3 comes to a close BTC saw a late price rally of 4.4% in a single hourly candle to finish the month strong.
Going into Q4 I still expect a sell off and revisit of the yearly open. With credit card debt at levels comparable to that of the 2008 financial crisis, as well as a 22-year high for FED interest rate, no confirmation of ETF approval and still 6 months out from the halving. These points all lead me to believe there will be one final flush out.
For this week I'm looking for weakness in BTC to potentially go short, however the stop loss would be tight. 32.5K is still a massively pivotal and would be a key area to watch.
ALT's such as LINK have served as a top signal for BTC in the past, currently LINK has rallied 40% in the last 2 weeks to reach local high, if the pattern stays true then that could be an early sign of where the rest of the market will end up in the coming weeks.
Last weeks low: $27165.3
Midpoint: $25978.9
As September and with that Q3 comes to a close BTC saw a late price rally of 4.4% in a single hourly candle to finish the month strong.
Going into Q4 I still expect a sell off and revisit of the yearly open. With credit card debt at levels comparable to that of the 2008 financial crisis, as well as a 22-year high for FED interest rate, no confirmation of ETF approval and still 6 months out from the halving. These points all lead me to believe there will be one final flush out.
For this week I'm looking for weakness in BTC to potentially go short, however the stop loss would be tight. 32.5K is still a massively pivotal and would be a key area to watch.
ALT's such as LINK have served as a top signal for BTC in the past, currently LINK has rallied 40% in the last 2 weeks to reach local high, if the pattern stays true then that could be an early sign of where the rest of the market will end up in the coming weeks.