This is playing out so far, BTC using 62457 as a backbone. Note 61591.

Pre-markets slightly in the green for now. I expect s&p to open around 5723 (it closed yesterday at 5695). There is slightly more money in BTC than ALTS as I write this, so BTC points the way and ALTS follow. Very sideways (I expected some volatility now). FOMC minutes will be released in 5 hours, so smart money wants to read the entire minutes of last months rate cut. They want to get an idea of the Feds intention for November, although the FED already made its intentions clear (another 0.5 by the end of the year).

5722, and oil is loosing yesterdays gains.

There are rumours in the US Capital that Israel will only target military installations and individual military leaders in Iran. Oil infrastructure maybe spared. Oil losing considerable ground today (maybe because of this rumour). This week should be bullish as stated in the attached post. Note that this is more true for s&p than crypto today, as more focus will be on the s&p.

This touch on our 63220 level retracted too quickly to be persuasive. Notice how precise our levels are.

Sometimes we need to go down before we go up. We need to reach 624574 or lower (61591) before we go up. This would be a healthy move in my opinion.

62574 got hit while I wrote the above.

edited 62056

edited 62056

So far its playing out as predicted 12 hrs ago.

Also as predicted, focus is on the s&p today.

Everything today so far, has the same ingredients as yesterday. Pre-markets are down, DXY continuous to rise (as predicted by cycle charts), and the market's liquidity between BTC and ALTS is roughly the same. This all leads to a sideways action.

The following is from yesterday's post and is still valid for now "For today, I see some indifference rather than weakness. BTC should range from 62457-63220. I give a higher confidence for BTC loosing some ground, rather than gaining (61591)". For today, this is valid for the next 7 hours, but read the next post very carefully.

The arrows show the daily candles for the past 2 days. I'm not worried because they're red. I'm worried because of their upper wicks. These are bearish candles. it shows that for BTC, bears are in control and yesterday we had BTC etf outflows. I expect bullish news for Thursday and Friday for markets. However, yesterday the S&P was up by 0.97% and BTC was under pressure. So good data coming in on Thursday and Friday may have a larger bullish effect on Wall street and a smaller one on Crypto. For today, I see pressure being exerted on us. A good sign of things to come for the last 2 days of the week, would be for magnified interest within 4 hrs before closure of markets today. Strictly speaking, we been sideways for 5 days now. We cant be sideways forever, we just have to get through today.

Pre markets are flat and BTC is weak as predicted. 61591 will be hit.

These are the 2 important levels for now.

Once markets open, don't be hasty in your decisions. Always wait 1.5-2 hrs after they open to see direction.

This is being repeated in political circles.

There is something that I have to share, that's been bugging me for a few days now. Last week's Non farm payrolls came in at 254K. The expected number was 140K. This is a huge improvement and as a result, markets were bullish for that day. There are now persistent rumors' (never underestimate the power of rumors' in politics), that the Government hired more people to boost up the numbers in order to get more votes. If this is the case, and I think it may be, then nothing stops them from doing the same thing to inflation numbers that are due on Friday. Does this matter to us? In the short term, no. They give better numbers, markets go up. In the long term though, after the elections, when reality sets in, the fall will be greater. I believe that we are already in a recession.

Look how it bounced off our 61591 level. Is this rise sustainable?

Posted earlier today. Nite circled part. Lets watch for another hour.