G’day Folks,
Can you feel it?
The hype, the excitement, the energy!?
‘Uptober’ has finally arrived, and that means we’re boarding the unstoppable Bitcoin rocket ship to $100k…
I truly believe markets have a sense of humour, and it tends to find liquidating overly excited traders to be a decent laugh.
What caused this red candle is up for debate. It could be trading algorithms seeing new headlines (if ‘war’ AND ‘stike’ == True: Sell Everything), it could be genuine risk-off fear, could be shifting election odds…
…It could also be just another day of chopsolidation.
Today’s piece will be a short and snappy one, where I will take you through a routine of metrics I use to diagnose whether this red candle is something I’m worried about, or just another day of choppy noise.
Time to hit the gym.
📈 Reminder: you can find the charts from our articles on the Checkonchain Charting Website, and a guide in our Charts Tutorial Video.
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