Bitcoin Inverse May Be Failing

As mentioned here, the little inverse on $BTC gives us a higher target, but a failure of the inverse is quite grave, meaning the minuette (orange) 2 is meek. This would indicate a possible lower target around $50K. Quite a drop from here. And the little inverse does look to be failing here.

I think there is some kind of liquidity sink going on in the background right now that the US indices are not yet feeling. I worry that something is breaking.

And all I am seeing on Twitter is total skepticism towards the few bearish calls I see, and vast quantities of giddy upside targets everywhere. I think this is a moment of great euphoria. Because of that, I think we are incredibly vulnerable here.


Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page.

Leave a Reply

Your email address will not be published.