Daily Bitcoin Update

Morning all,

First video update for TradingView. The analysis is all in the video.

Notes:
- Possible decoupling from SPX, Nasdaq
- SPX, ES1 sitting under overhead resistance and may see a move lower which could pull Bitcoin down with it.
- FED FOMC had little impact (less volatility than expected) - The expectation is a 50BPS hike in December
- CME Futures - Gap filled! Moving lower

Bitcoin
- Trading in a falling wedge on small and large timeframes - We need volume confirmation and a break of these trendlines and key fib levels for any short term bullish positions
- Short positions are stacked on Bitfinex - Possible shorts squeeze?
- Be patient and remember to wait for the areas of value.
- Very hard to trade right now as any FUD will move the market.


- Should you have any questions feel free to reach out.

Thanks

Simon