BTC Sunday Update 10/2/22
Updated
Check the 2HR and 4HR 375 and 500 Hull averages for short entry targets. We were not nearly as bearish as I would have thought when we ended friday. Obviously we will see what happens on Monday with the Stock market.
I inked Fridays Market update to this, so you can check that out if you want. I talk about spots where I expect we can see a reversal depending on where we start.
TLDW; BTC week end target is 18k. We obviously aren't there and we found support above the 4HR and 4 HR hulls. The short targets are there, but someone or something has to push it down, otherwise its not worth shorting where it currently is.
Pushing to the Week 200 SMMA isnt particularly amazing, because we want to see the candle end UNDER. To do that its going to take another 7 days from now, so selling it early can easily be seen as over selling. Unless the stock market is trash of course.
I inked Fridays Market update to this, so you can check that out if you want. I talk about spots where I expect we can see a reversal depending on where we start.
TLDW; BTC week end target is 18k. We obviously aren't there and we found support above the 4HR and 4 HR hulls. The short targets are there, but someone or something has to push it down, otherwise its not worth shorting where it currently is.
Pushing to the Week 200 SMMA isnt particularly amazing, because we want to see the candle end UNDER. To do that its going to take another 7 days from now, so selling it early can easily be seen as over selling. Unless the stock market is trash of course.
Note
Comment: One clarification. I just re-read what I wrote. for the too long didnt watch TLDW section, I meant to say, the week end target (for a huge short) for LAST weeks candle end was 18k. Starting right under 18k would have been perfect to push the price down incredibly hard. Because we didnt reach that target on the week TF switch, there is a lot of pressure taken off of BTC until either: The market opens and IF the market opens down or unless we end the 2HR 4HR candles under the respective Hull Moving Averages that are below the current price.I explain this correction in the video, but I did a bad job of typing it out. I try to be reasonable. I hate typing if I am talking for 20 minutes with the intention of people watching it, so sometimes I get lazy when I type.
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