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.

That's why we must have patience. BTC retraced giving lower highs and lower lows. The only thing up, is dxy and US10 government bonds. Flight to safety continues.

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Remember this post?

Well this is how todays candle is shaping up so far.

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