Before you get giga bullish, please read this.
Bitcoin pumped +15% in the last 4 days, flipping short-term momentum ultra-bullish, but this does not fully cancel the risk of a Q4 correction and bottom.
1. Why this is the first real reversal sign
-BTC reclaimed its weekly MA 200
-Bullish RSI divergence & MACD crossover
- Macro conditions are bullish with Core inflation at 5-year lows and ISM at a 4-year high.
- Russell 2000 is hitting new highs ( historically leading indicator for crypto )
2. The warning
In July–August 2022, BTC rallied +40% with identical metrics before violently dropping -22% in a single week of November and printing new lows.
3. Conclusion
Short-term momentum has clearly shifted bullish, but the larger trend structure has not fully flipped yet.
Holding above $67K keeps the recovery intact; losing it would mean the breakout was a fakeout.
LATEST: 🇺🇸 US Treasury Secretary Scott Bessent will do whatever it takes to "put the fear of God" into bond vigilantes and push yields lower, per Fox Business correspondent Charlie Gasparino.
Introducing two new pairs for Arena Launches!$THROBBIN and $PACK
By popular request, you can now pair any newly launched token with $THROBBIN or $PACK. Select either token on the drop down before deploying.
It still costs the equivalent of $5,000 USD to bond these tokens. As a reminder, creators of all newly launched tokens on Arena Launchpad now earn more creator fees.
Let’s see what the community comes up with!
The Arena Foundation is publishing its second buy backs of 43,431,454 $ARENA at an average price of $0.00093 for a total of $40,391.25.
This buy back was done over many transactions, all on the open market over a period of time.
Buy backs will soon be part of an automated, programmatic system in the coming weeks.
This is one of many purchases of $ARENA by The Arena Foundation, but the second batch that is being reported.
