grega

Cryptos are higher this week, they bounced nicely and the main reason was the news regarding the crypto exchange FTX which found nearly $5 billion of liquid assets. This sounds very positive for their clients but it's unclear what is the amount owed to customers. Another reason for higher cryptos is also lower USD and US CPI report where inflation once again comes lower, to 6.5%, so seems like investors are willing to take more risk now as they believe that FED is closer to an ending of a hiking cycle. On the chart below we can also see some increase in liquidations of BTC shorts so some may see this as supportive for the crypto, but notice that at the same time there were also more exchange inflows which is actually a contrarian indicator as some are looking to sell their BTC, which makes sense after this nice bounce. So IMO cryptos can consolidate here at 19k-20k resistance with flows from both sides. Be aware of some short-   

Cryptos have some nice intraday bullish patterns as recent pullback unfolded in three waves. I think we can see more upside, but just be aware that the higher degree trend is still down so if you play the long side, play it small. Why I am pointing out this is also because the US yields are higher/notes lower which is USD positive, so risk-on is not confirmed. I am afraid that bitcoin and SP500 can catch the downside if yields will continue to rise.  

Cryptos have some nice intraday bullish patterns as recent pullback unfolded in three waves. I think we can see more upside, but just be aware that the higher degree trend is still down so if you play the long side, play it small. Why I am pointing out this is also because the US yields are higher/notes lower which is USD positive, so risk-on is not confirmed. I am afraid that bitcoin and SP500 can catch the downside if yields will continue to rise.  

Bitcoin is coming down, now testing the channel support, but five wave drop indicates a strong intraday bearish trend, so be awre of further weakness after rally. I also see room for more upside on US yields, back to 4% which is bullish for the USD across the board. Not easy to call end of a bearish market on crypto with these developments.  

when SP breaks the bitcoin follows. Bitcoin is still ready to break IMO  

Nvidia drops after 2Q prelim revenue misses estimate. But before that there was a five-wave recovery, think now a correction,a nd once we stabilze it will be good for crypto as well. https://www.tradingview.com/chart/NVDA/8SkwiOYq-NVIDIA-Seeking-For-A-New-Support-After-Revenue-Misses/  

As you know, the technology sector is very important for cryptocurrencies, especially companies that work on graphic cards. Well, what we see on AMD is a nice and clear five waves up on AMD; meaning that low is in and that more upside should be seen after a pullback. This should allow bitcoin to attract more buyers as well.  

As you know, the technology sector is very important for cryptocurrencies, especially companies that work on graphic cards. Well, what we see on AMD is a nice and clear five waves up on AMD; meaning that low is in and that more upside should be seen after a pullback. This should allow bitcoin to attract more buyers as well.  

Crypto total market cap is back above $1T as USD turns down. DXY still has only one leg from the high, so even if its a correction we need three waves down, so we can expect more upside on cryptos after a retracement, and on stocks as well #Elliottwave #crypto Grega  

When the price and time of two pullbacks are similar then we should pay closer attention to it, because most likely the sentiment is also very similar compared to the previous cycle. https://www.tradingview.com/chart/BTCUSD/3G6Z1BFL-Bitcoin-Cycle-And-Sentiment-Analysis/