Bitcoin dancing with the devil -- White/RED

2023年9月2日

I feel for anyone trying to day trade this asset as it really test your patience.

Bitcoin has only acted like this once and its back in 2013-2016 where the Red Line shows the average Bid/Ask price hovers just above the previous high.

The White Line is telling us the major support is around here too.

TSI is indicating a trend shift indicating price stabilization 24-26k range.

There's major issues in the world right now with the Chinese Currency and Japanese Yen.

But the fact still stands that Bitcoin and Gold are both in the same camp of "Risk off" and acting like a fortified hedge.

So while the SPX could climb or fall and Bitcoin and gold remains very stagnant indicates extreme uncertainty. . I suspect a very volatile move before end of 2023 that for sure at least. For now Sideways.