9.25.2020 Update (Fri)
The big picture on the daily time frames
BTC remains in a bullish trend, and SOPR gave out another “decr. in supply” alert (despite the 4.9% increase yesterday). This means supply will continue to decrease, giving additional upward potential in the coming few weeks. The key to watch out for is the SOPR trend. At this point, if BTC drops below 10k, the trend will likely switch to bearish, which will completely alter the current strategies. Before then, enjoy the dips in bull runs!
The ever changing battlefields on the hourly time frames
Sentiment neutral to bullish across exchanges. Open interest picking up. Potential risk of long squeeze today if Huobi and FTX gets overly bullish as well. However, technicals speaking, still some short-term room to grow (no clear RSI bearish div on the hourly yet). As alts tend to get bullish when BTC consolidates after an uprise, I would give ETH neutral rather than neutral to bearish today.