I was in short last night 😂 and earned well 😃

Whats About. YOU ?

📊 Crypto Fear and Greed Index

🧭 Index Value : 50
😱 Sentiment : Neutral

What is a Spot Bitcoin ETF and why does it matter?

Lots of talk this past month around ETF's. Let me explain what it is and how it affects the market. ETF stands for "exchange-traded fund". A BTC Spot ETF is one that directly invests in Bitcoin. You know what "Spot" means, it is buying and selling of real Bitcoin on an exchange or directly from someone.

A spot ETF would would hold real Bitcoin as its primary asset. This means that the price of the ETF would be directly tied to the current ("spot") price of Bitcoin. This is a big step, as it would cause massive demand in the spot market, tied directly to the demand for the ETF.

Why do we need it? Can't we just buy real BTC?

Yes, WE can. But a BTC ETF will allow US based investors to gain exposure to Bitcoin without dealing with the complexities of buying and storing it directly. It also allows them to buy and sell that exposure easily, as the ETF would trade on a regular exchange.

There are trillions of dollars that can't access BTC due to regulatory or trust issues. These people don't trust Binance or Coinbase, but they trust Blackrock and Fidelity, that's really what it comes down to.

ETF's make BTC bigger. Bigger = more liquid. Liquid = more people can buy in. That is how the next phase of adoption begins.

#STORJ LONG

wait for entry price

SmartMoney Planning For Discounted Entry

When All In Panic Smart Money Will Buy !
When All Im Greed They will Sell

When People On Panic
SmartMoney Makes Lots Of Money!

observation regarding the potential actions of smart money pumping the market for liquidity and then initiating a sudden dump to a specific price level of 28.5k is an interesting hypothesis. However, it's important to note that such predictions and claims should be approached with caution, as the cryptocurrency market is highly complex and influenced by a multitude of factors.

While short-term price movements can be influenced by various market participants, accurately predicting specific price levels and market actions is inherently challenging. The cryptocurrency market is known for its volatility, and price movements can be driven by a combination of factors including news, market sentiment, and trading behavior.

Furthermore, attempting to time market movements requires advanced analysis, technical expertise, and a deep understanding of market dynamics. It is essential to conduct thorough research, consider multiple perspectives, and be aware of the risks involved in trading.

As always, it is recommended to stay informed about reliable news sources, monitor market trends, and exercise caution when making investment decisions. It's important to remember that any investment or trading activity carries risks, and it's prudent to seek advice from qualified professionals or financial advisors before making any decisions.

🚨BIG NEWS🚨

Uber's CEO said it again:

𝐖𝐞'𝐥𝐥 𝐛𝐞 𝐚𝐜𝐜𝐞𝐩𝐭𝐢𝐧𝐠 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐩𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐬𝐨𝐨𝐧!💰

Distance between shorts and longs appears to be tightening up on the long side. This could be a short squeeze in the making

Mind you, it wouldn't be very large due to the short scale of the coinglass liqs

**Tue 1 Aug - Daily Levels Summary**

1. Monthly Close
Monthly close on BTC was bearish, with a deviation above range high to almost 32k, but closing below 30k ($29250). Looking across the alt market, most alts are bearish and closed with bearish candles. I’m still firmly bullish on BTC but short term more downside can come. Needs to stay above 27500 to hold the 12/21 EMA bands for the monthly chart.

2. BTC paths
August and September of pre halving year typically produce a pullback in crypto markets. But for today, it’s important not to over react to the early month dip, as we normally see a wick on both sides of the candle. My expected path is drawn in the image below. I think ultimately we go lower at least one more time over the coming weeks for a shakeout, possibly like we did in June where price got choppy. Everyone is bullish BTC on high timeframe, so the low timeframes can get messy.

Key Events This Week:

1. ISM Manufacturing data - Tuesday
2. JOLTS Jobs data - Tuesday
3. ADP Payrolls data - Wednesday
4. Jobless Claims data - Thursday
5. July Jobs report - Friday
6. ~25% of S&P 500 companies reporting earnings

A lot of important jobs data this week.

ISM Manufacturing PMI
46.4 exp 46.9

JOLTS Job Openings
9.58m exp 9.61M

ISM Manufacturing Prices
42.6 exp 43.8

Bitcoin had a small drop, price tried to push lower but buyers tried to bought it back up, the wick is practically the same size as the candle.

For me it looks like that bitcoin will range for the next few days.

The two scenarios i think are most likely to happen
1. Price will range and fill out the gap I've marked and continue to go higher and sweep the liquidity at 293. After this I think price will retest the orderblock (now breakerblock because price broke through it) and continue to go higher. This is the scenario I think which will happen if price fills out the gap and breaking through the OB. Also if there are any bullish news (Yellow line).

2. Price will range for the next days, sweep out the liquidity at 287 and another leg down and continue going lower with small ranges in between. Probably it it will fill out the gap as well. I still think that there will be a big drop because because i think that blackrock and other institutions and hedge funds want to buy bitcoin cheaper before the bull run starts and that therefore bad news will be spread to buy bitcoin cheaper. I did an analysis once where I said that price will go to around 24-25k. (red line)

I explain the other scenario as well:
3. Bitcoin will range for the next few days and fill out the gap and break through the orderblock, go back below it and retest and going lower.

EMA bands on 8H, 4H and 2H still bearish.

Price is still ranging so I am still neutral.

Will make an analysis on the weekly chart now

#FET/USDT