BTC is a victim of liquidity problems

3 Okt

Morning folks,

So, we've planned just perfect last time, and BTC actually has dropped but much faster than we thought. It was not even able to form the right arm of H&S pattern and collapsed.

But don't search the explanation on cryptomarket. The reasons are more pragmatic - short-term liquidity fall in the US. First is BofA collapse yesterday, then SOFR rate has jumped above RRP. Sea ports are under strike, which also bring a mess in mutual relations of all counterparts.

So, current BTC drop is a pure run into liquidity. We do not know when it will be over, hopefully soon. But now we do not consider any longs and prefer follow to the market and see what reaction will be around strong support areas. Next one is 58K