Weekday Update (9.16)

Current BTC price (Coinbase): $10,708

Long-term (daily BTC):

BTC remains in a bullish trend, and we are in the dip zone. However, the SOPR needs to pick up in the next few days in order for the bull trend to continue. Which means, at this point, if BTC drops below 10k, the trend will likely switch to bearish, which will completely alter the current strategies. Before then, buy the dips. Low risk, high reward setups for now as long as the stop loss’s executed when triggered.

Short-term (hourly chart):

  • BTC neutral to bullish:

Sentiment slightly bearish across all exchanges. These sentiments will likely further fuel the run upwards (especially when open interest picks up to the blue color).

  • ETH slightly bearish:

Slightly bullish across all exchanges. More room to drop than rise for now.

  • XRP neutral:

Sentiment is neutral, and having mixed signals across different exchanges. Not conclusive for now.

  • LTC slightly bearish:

Sentiment slightly bullish across all exchanges. More room to drop than rise for now.

  • BCH bearish:

Sentiment slightly bullish across all exchanges. More room to drop than rise for now. Open interest high -> more chance of the drop happening.

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