Some thoughts on the price action these last couple days:
Btc was showing weakness as traders sold the treasuries announcements.
The Elon crash out was actually very insightful as the breakdown of higher lows in the market structure was followed by a very aggressive bid twap. (Saylor-like execution but could be another treasury, will know more on Monday).
Bears lose if bulls reclaim $107k.
Expecting volatility to pop off once this level is reclaimed for real price discovery.
Also the open that interest skyrocketed as everyone tried to buy price discovery is now significantly lower.
Looks much healthier.
Downside risk is escalation in trade wars but everything looks fine on that front.
Open interest*
Sector:
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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