$BTC
🔞🔞 We went from a breakout and reclaim of the range to a breakdown 🔞🔞
Even worse we cracked on what many believed would be the catalyst for the bottom, metals topping 📢
That said we have the Monday Crypto meeting at the white house and I would highly caution that it takes a few days and weeks before flows settled🤔
In the past metals topping was a positive catalyst but it took a bit of time for the trend to establish itself ↩️
The funniest outcome now would be a bad crypto bill being accepted. I see this as stable coin yields not being passed through to customers as a major win for banks and against crypto and done in the name of stability or at least argued so through US banks lobbying ✴️📢
An outcome like this might price in all bad news while metal flows stabilize the backwind in the asset type 👀📢
To be back in a bullish environment I would need to see a reclaim of the range and 200ema 👀
Equally important is the speed to me, if we can quickly reclaim the range I would expect a very violent recovery of the uptrend, should we just fizzle lower, I think we are in for a larger bear market 📢
The biggest risk to crypto is a general recession hitting us with sticky higher inflation. If we see that we would get retail and institutions pulling back while higher rates than needed would kill risk appetite 🚸
🚸 Warning 🚸 I do not provide financial advice 🔞The intent of this content is for you to be aware of market conditions before starting to invest 👌Thank you for reading 👌