Trump's one sentence... made today's market completely meaningless.. 😂 Better to focus on 2 aspects today.. 1) Before Trump's announcement, what was the market condition like, can we see any clues.. 2) After the announcement, what market data can guide us to potential shorting opportunities in this wave.. Let's start with the first question... --------- Chart 1 From order book imbalance perspective.. During Asian hours today around 67k, the buy-side imbalance in the order book approached the level we saw on March 7-9.. Both in the 5% price range, Binance buy orders > sell orders by 3x, while across the network buy orders > sell orders by 2x.. Meanwhile, with gold crashing sharply today.. BTC showed its resilience.. Yesterday's dip below 68k in CME pre-market liquidity, thought the market was too chaotic so didn't enter.. Today's Asian hours had two waves of weak long models with dips, but missed them while sleeping. However, some friends in the group using my entry model caught a wave at 67.7k low long. So today I was originally planning to wait for a US market open opportunity to find another model setup and enter for a mid-term swing trade.. But then the news came out, no opportunity given, so forget it for now. Next time. ---------- Chart 2 Capital flows.. First, looking at Coinbase, they had an abnormal wave of selling before CME open today.. This caused during the first dip to 67.3k, where all contract deltas were positive, but price accelerated downward - a strange sight (The reason behind it was Coinbase spot's reckless selling this period) Subsequently, throughout the Asian session, Coinbase started stable TWAP buying.. same with the rest of the network spot. This at least shows one thing.. Today with gold and silver crashing, BTC didn't fall, 1 is because there's demand below (buy orders stacked below, order book imbalance) 2 is also because in reality nobody is selling (spot CVD rising) Then comes the news market, so let's look at the next question... Next part to follow
Today's Market Review (1)
Trump's one sentence... made today's market completely meaningless.. 😂
Better to focus on 2 aspects today..
1) Before Trump's announcement, what was the market condition like, can we see any clues..
2) After the announcement, what market data can guide us to potential shorting opportunities in this wave..
Let's start with the first question...
---------
Chart 1 From order book imbalance perspective..
During Asian hours today around 67k, the buy-side imbalance in the order book approached the level we saw on March 7-9..
Both in the 5% price range, Binance buy orders > sell orders by 3x, while across the network buy orders > sell orders by 2x..
Meanwhile, with gold crashing sharply today.. BTC showed its resilience..
Yesterday's dip below 68k in CME pre-market liquidity, thought the market was too chaotic so didn't enter..
Today's Asian hours had two waves of weak long models with dips, but missed them while sleeping.
However, some friends in the group using my entry model caught a wave at 67.7k low long.
So today I was originally planning to wait for a US market open opportunity to find another model setup and enter for a mid-term swing trade..
But then the news came out, no opportunity given, so forget it for now. Next time.
----------
Chart 2 Capital flows..
First, looking at Coinbase, they had an abnormal wave of selling before CME open today..
This caused during the first dip to 67.3k, where all contract deltas were positive, but price accelerated downward - a strange sight
(The reason behind it was Coinbase spot's reckless selling this period)
Subsequently, throughout the Asian session, Coinbase started stable TWAP buying.. same with the rest of the network spot.
This at least shows one thing..
Today with gold and silver crashing, BTC didn't fall,
1 is because there's demand below (buy orders stacked below, order book imbalance)
2 is also because in reality nobody is selling (spot CVD rising)
Then comes the news market, so let's look at the next question...
Next part to follow