Most altcoins look about to drop 20-30%.

Good morning.

$9.5B in BTC options just expired on Deribit. This expiry could increase volatility as market makers, who were previously hedging and maintaining the price within a certain tight range to avoid losses on options, adjust their positions.

The plan is still the same. A range has been formed between $60k and $73k. The liquidity is concentrated just outside the range, both above and below. Right now there's a lot of supply here and the market is overheated (too many longs), so I would think the price is going to test the range low first, and take the liquidity which is below $60k. After that, if price reclaims the range low, we could see a pre-halving run to new highs above the range high, potentially reaching $74k-75k. It will all depend on the interaction at the extremes of the range.

So for now I'm being cautious before adding any more exposure to the market, because if BTC deviates below $60k, which is likely, altcoins might drop 20-30%.

Good morning.


Despite the recent move, fundings remain very high and heatmaps are showing weakness with the demand being pulled, meaning it was being used as spoofing.

It seems this could be the beginning of the move to sub $60k, in order to take that liquidity. If that happens alts would dump 20-30%, where their next support is.

I hope you had a good weekend and I wish you a nice week ahead.

10% already, average. Another 10-20% left to reach support.

BTC hasn't reached support yet, and neither have altcoins. Longs are fueling the move down, price is forming lower highs...

This is not over yet, imo.

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Wait to see a capitulation candle with lots of liquidations, ideally deviating below $60k, before thinking about a local bottom.

Expecting bearish continuation soon.

TOTAL

Currently testing broken support as resistance, with a corrective pattern (DCB). If this level holds, we should see bearish continuation soon, to the next support level, which would match with BTC testing the liquidity below $60k.

ZCX update

Playing out perfectly.

I will probably add some more if it reaches support.

TOTAL update

Decent rejection from resistance.

BTC

Range play is key. I expect it to test the liquidity below the range low first.

Wait to see a capitulation candle with lots of liquidations, ideally deviating below $60k, before thinking about a local bottom.

This is the plan.

Alerts are set and it's time to enjoy the weekend until the volatility is back and we see a strong move.

Have a good weekend everyone!

GM

The price is moving up but something feels very off.

Many altcoins are testing broken supports as resistance, fundings are increasing again and there are a lot of liquidity gaps below.

It wouldn't surprise me to see a strong reversal.

Yesterday's movement felt off, and it has already been completely reversed.

Same plan. Eyes on liquidity below $60,000.

BTC

Update of the range play idea.

ETH

Expecting a test to the $2800-3000 support level.