Gm and happy Friday! ☕️

Bitcoin update & Hyblock Heatmaps

BTC has broken below the range low, so we’re headed for one of 3 scenarios:

1. Short deviation / higher low

We already had the huge liquidation event for Bitcoin a couple of days ago.

What was missing was the real flush in ETH and altcoins - now the major downside liquidity is hit and the whole crypto market can resume higher. Makes the most sense to me sentiment-wise.

2. Hit the liquidity below the last low at 107k.

This would correspond with a bounce from the daily 200 MAs in the area 104-107k. Makes the most sense to me chart- and liquidity-wise.

3. Deep correction to the weekly EMA50. With stocks at ATH I don't see a reason yet why BTC should go this low - but in crypto, everything is possible.

Overall I expect a bullish October - why?

We are in week 34 of the current 4-year cycle and should see the weeks with the most gains soon.

We just saw the beginning of the rotation from Bitcoin into large-caps.

A blow-off top alongside stocks and gold makes the most sense to me.

Have a great start into the weekend!