Bitcoin and Finance Charts to Start Week
This is NOT investment advice.
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Starting with the Nasdaq as the elephant in the room remains Risk Off vs Risk On and the market's perception about growth prospects. Wondering why not all are diving in headfirst to "buy the dip" or "stay the course"? Look at the volume and torrent of distribution last few weeks.
That said - last week's candle presents some bullish hope could be carving around looking for a place to launch a counter-trend rally.
Personally - I'll continue to let it prove it to me. Look at that candle on the daily. Does Friday's volume make you think that was a robust attempt at Day 1 of a rally attempt?
Bitcoin Weekly
- Money Flow still pouring out on higher timefames
- volume declining on this correction/drawdown*
- decent looking weekly candle putting up a fight
Bitcoin Daily
- Money Flow not exactly roaring in the green on the daily
- Volume tepid and declining on this bounce
- Very open to another flushing out into zone discussed before, let's see what happens. Also not shocked if it tries to run higher again on light volume, might depend on how Nasdaq opens/behaves Monday AM
Getting closer to another barrage of players throwing in the towel (courtesy of Glassnode)?
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