Bitcoin’s recent consolidation phase has come about concurrently with traders stacking up on short positions

This indicates that they expect the turbulence within the traditional markets to continue suppressing BTC’s price action, potentially leading it lower in the weeks ahead

That being said, this has caused negative funding rates to surge as of late, making it costly to be short

Historically, funding rates – when slanted towards one direction for extended periods – work as a reliable counter-indicator

https://bitcoinist.com/negative-funding-could-act-as-a-launchpad-for-a-massive-bitcoin-rally/

Close the longs.

https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers

If you paid attention, you would know we have entered the chop zone

Julio has some updates for you

https://www.tradingview.com/x/hmkeNuP3/


Cardano : The Psychology behind the Break Out Strategy and TA

If you've followed me since a long time ago, you'll understand that my favorite criteria to enter position in the market is based on the break out strategy. I've already acknowledged you about my 3 phases of break out strategy and when to enter the position. Whenever there is a trend line or horizontal level which acts as a support or resistance, I'll patiently waiting for the break out characteristic to enter the position. The main reason why I like to enter at the break out is that there MUST be a lot of volume which enter the market no matter a net buy or net sell. An increase in volume will bring the volatility which means will eliminate or at least minimalize the risk of manipulation in the market. Another reason is that the shifting on the psychological aspect which means the investors see something that could change in the future.

That's why at current Cardano chart, I'm still waiting for a long opportunity. The validation of it is clear, whenever the price can breaks out from the white resistance trend line and the white zone which is moving in alignment with the .382 fibonacci levels. If we see any sign of break out and of course with a decent volume, we can expect a moves higher to the above fibonacci levels. The .5 fibonacci level will be a minor or less significant resistance. On the other hand, the golden pocket is always be a strong resistance zone.

Yes, I know that the latest news and rumor about the Shopify thing has attracted a lot of investors in the market to enter the Cardano. But, we must not be ignorant about the confirmation on the technical analysis too. The above paragraph could be the bullish fact which I am expecting a break out too. But, the bearish could still in the other side waiting for the good opportunity. If we get another confirmation of rejection from current level, we might see further push toward the blue region on the short and middle term.

Almost a month ago we warned everyone not to touch CRV until it was able to then climb above at least $2.215.

We suggested cutting losses early because price could fall -50% from $1.977 but price is currently down -75%. Imagine the number of people bag-holding CRV at the moment.

CRV even had the chance to maintain a potential falling wedge but the support trend-line failed. That is how bearish the asset is.

Now we've established a firm downtrend and seem to not be able to break above it. For CRV to start looking good in our books, it has to achieve the first step of reclaiming $1.1 as support.

Only then will it have the chance of testing $2.2. We're fully bullish on CRB above $2.6. We may start considering longing for a short term target of $2 if we can close above $1.1.

For now, we still consider CRV as a very high risk investment asset.

https://www.tradingview.com/x/H9iHXNZu/

Oh and for all of you wanting to drop a DM for some help, @cryptopotatoes. Remember again. Nothing I post is financial advice. These are my opinions

LTC is telling us the other majors may be poised for some further up moves. Have to be setting stops in profit.

https://www.tradingview.com/x/jj7CyNFx/

Everything still bearish and fortunately we didn't see BTC move significantly higher so our shorts still active.

Daily close is approaching and we may have another daily bearish retest of $10687 if price closes daily above $10540. If we do close below $10540 then we continue lower.

Remember, bears will milk as much bulls as possible for power to dump lower quickly. We're almost there.

https://www.tradingview.com/x/hFIlN51W/

We achieved 1st target ($8.67) on our LINK short and almost hit 2nd target. We don't think LINK is done dropping yet.

As we're expecting one last small push higher for BTC and ETH, we may expect LINK to also move higher, probably testing the new 2H resistance zone at $9.1 - $9.26.

If price does get there, it'll be another shorting opportunity for those who couldn't short at $9.5.

https://www.tradingview.com/x/9IN5J5Sv/

Our DOT short is also down -16% from entry. This keeps looking bearish and bearish and on top of it all, we finally dropped below the first green support, which should now serve as strong resistance.

DOT is on its way to our 2nd green support between $2.74 and $3.18. Price could move a bit up to $3.9 - $4 before finally falling.

https://www.tradingview.com/x/GtFhKes2/

BitMEX Open Interest Drops, Withdrawals 'Stabilize' (UPDATED) https://cryptonews.com/news/bitmex-open-interest-drops-withdrawals-increase-7910.htm

Macro view from OnePoint

https://www.tradingview.com/x/vOkMzt2f/

Here I show you about the comparison between the Gold, Bitcoin and the DXY which is the US Dollar Index price. What seem so interesting based on this chart comparison is that the price of the Bitcoin is having a positive correlation toward the Gold's price in the last 3 months. On the other hand, the price of the DXY which is becoming the US Dollar index is having a negative correlation toward the Gold price.

US Dollar vs Gold
It's normal if we see the negative correlation between this 2 commodity index because the reputation of the gold which always be a safe haven asset and the DXY will represents the favor of the investors in USA market. If they see any good potential of the USA and the global market (as we know that the US Dollar is becoming the world's leading currency), people will accumulate the Dollar to invest in any type of work and business line which will increase the economic growth. Money inflow will occur during this condition and the price of the gold will have a reasonable decrease as an effect from money outflow which most of the investors sell their gold saving to open new business. And also the opposite, the money outflow from the US dollar will cause money inflow toward gold as the investors believe the gold's reputation as the safe haven.

Gold vs Bitcoin
The positive correlation however is totally different aspect between the gold and the DXY. The investors currently look at the bitcoin with the same perspective as they look in the gold, as the safe haven. People certainly believe that the price of the bitcoin could be the hedge comparing to the traditional currency. But, what makes it different with the gold is that the crypto adoption and blockchain technology which becomes an important part inside the industrial revolution 4.0 . The Bitcoin could be another safe haven asset, but of course becoming different with the gold as the traditional safe haven. I do believe that the bitcoin will have more future value comparing to the gold and cryptocurrency is here to stay.

Did some digging into the FCA's reports and there are a few notes to make on the "UK bans crypto derivatives" headline.

The currently standing prohibition on selling crypto referenced products to retail dates back to July 2019 and the commitment itself was published all the way back in October 2018. The newly announced ban just holds a set of rules to aid the prohibition which will come into force in January 2021. (PS20/10)

According to PS20/10 1.24 the new rules will apply to firms operating in or from the UK which is a little vague because pretty much all large cryptocurrency firms offering derivatives to retail customers don't have UK offices but they do accept UK clients. Therefore we need to take a look at the CP on International Firms which states in CP20/20 3.3 and further that firms who do not pass minimal requirement, like an office in the UK, do not subject to the term "Authorized International Firm".

Bottom line is that the scary headline really doesn't change much. UK retail customers can still use crypto derivative platforms such as Binance and Bybit like before, the current rules don't take effect on firms not located in the UK. The FCA operates different from the US entities in the way that they will not go after overseas firms. It's possible that firms will choose to deny access to UK clients by themselves but we don't have any indications for that yet. The efforts to ban crypto services do set the tone for further developments and also give a lead to other countries which smells like the beginning of more active regulations. Possibly because governments are planning on getting more involved into the digital asset environment.

The next likely step for the FCA is to state that firms are avoiding the rules by moving retail customers to non-UK entities (PS20/10 1.26) which could lead to further actions and eventually cause UK customers to use another country's VPN to get access to derivatives platforms. That's not here yet, though. No worries.

https://www.fca.org.uk/publication/policy/ps20-10.pdf
https://www.fca.org.uk/publication/consultation/cp-20-20.pdf

DOT/USDT Short

Polkadot is a very promising project. The market just isn't on its side. Bearish momentum growing. Failure to hold key support level solidifies the bearish scenario.
I strongly recommend buying into DOT in the higher $2.xx or just around $3 if the market stabilises by Halloween.

Thank you @crypto_zombiee for the idea.

The daily does of OnePoint

https://www.tradingview.com/x/bm4ju1GI/

Bitcoin : Strong consolidation is still in play. What's next?

The fact that there is a huge triangle in the higher degree of this current structure is once again show us that current consolidation will last longer than what we've thought. In the last 1 month, the volatility for the bitcoin has been ranging between 11100 - 9800 region which is around 14% and considered as a low volatility on the bitcoin's market. During this consolidation and accumulation zone, there will be a lot of uncertainty occurring and the crypto market in general has lost a lot of market capitalization too.

However, the previous pattern which I've anticipated and covered is still in play and is still valid as well. The huge triangle is still forming here with the price comes closer to the APEX of this huge triangle. This action could be the action of waiting the uncertainty to become certain. The significant factor from fundamental side is the US president election that will take place later near the end of the year and the COVID 19 vaccine development which so far giving a huge effect on the global market, not just the crypto market.

Price is currently trending slightly above the .236 fibonacci retracement level which is becoming the first strong support based on the guideline on the fibonacci itself. Beside that, since the break out point from the yellow resistance trend line, we haven't seen any sign of retesting this broken resistance trend line as a support which is the phase 2 of break out strategy to confirm the bigger upside cycle in the future. I still see a potential downside moves to test the blue region which is moving in alignment with the yellow resistance trend line. However, I'll respect current triangle as the major pattern that is becoming most significant pattern at this condition. Breaks below this lower line of the triangle will become another correction toward the blue region and I'll anticipate the .5 fib level as the end of liquidation zone. Still staying neutral as long as there isn't any confirmation yet.

Founders Arthur Hayes and Samuel Reed have stepped back from all executive management responsibilities for their respective CEO and CTO roles with immediate effect.
https://blog.bitmex.com/leadership-changes-at-100x-group/

Audio update in 10. You're wouldn't want to miss this. Pin the channel and turn on notifications.

Thoughts on Mt. God refunds, gems to pick in crashes

As mentioned, tighten stops on all trades.

Came a little late but was on point