BTC/Crypto, See you next year
Fundamental aspect:
Due to the fall of FTX, there will be a lot of aftershock. Let's alone the unrevealed FTX investment that is circulating around the whole industry. You may see that lots of money were withdrawn from Solana's and NEAR's DeFi for instances.
Regulators will become more harsh on the industry. Binance will get inspected "for sure" and even more surprise can come afterward. I think Tether will also got seriously inspected into the treasury as well after what FTX and Alameda did.
Technical aspect:
Unfortunately, the solid support has been broken and 12k can be expected. If you are short term trader, obviously it is going down and no sign of recovery yet - though correction spike can be expected after 2-3 days of these panic sell so beware of that.
For HODLER, if you are a hardcore accumulator 10k-15k is a good spot for laddering. Personally, I might ladder in a bit if there is some sorts of RSI Div. However, I would save a good portion of my cash now and wait for a very clear confirmation which I expect it to be at least next year, hopefully late Q1 2023.
By confirmation, I would focus on Weekly chart.
-RSI Divergence, which I am expecting it now and hope that this sell does not make a new low for RSI. This "divergence" must happen otherwise I might not even consider laddering it.
-Next, calibrated MAs cross over will be my lagging confirmation is a very good sign for momentum shift and market change.
Due to the fall of FTX, there will be a lot of aftershock. Let's alone the unrevealed FTX investment that is circulating around the whole industry. You may see that lots of money were withdrawn from Solana's and NEAR's DeFi for instances.
Regulators will become more harsh on the industry. Binance will get inspected "for sure" and even more surprise can come afterward. I think Tether will also got seriously inspected into the treasury as well after what FTX and Alameda did.
Technical aspect:
Unfortunately, the solid support has been broken and 12k can be expected. If you are short term trader, obviously it is going down and no sign of recovery yet - though correction spike can be expected after 2-3 days of these panic sell so beware of that.
For HODLER, if you are a hardcore accumulator 10k-15k is a good spot for laddering. Personally, I might ladder in a bit if there is some sorts of RSI Div. However, I would save a good portion of my cash now and wait for a very clear confirmation which I expect it to be at least next year, hopefully late Q1 2023.
By confirmation, I would focus on Weekly chart.
-RSI Divergence, which I am expecting it now and hope that this sell does not make a new low for RSI. This "divergence" must happen otherwise I might not even consider laddering it.
-Next, calibrated MAs cross over will be my lagging confirmation is a very good sign for momentum shift and market change.
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