22nd October 2021 > > Technical analysis (TA).

tl;dr

TA is a load of old balls frankly, but sometimes I will go with it.

Market Snap

Market Wrap

Perp funding rates are easing off a touch, but we are still vulnerable to a small change in sentiment snowballing into large liquidations of the leveraged long children.

If that happens, the sell-off will only be temporary but might cause angst for a while amongst traders but not amongst investors.

Curious Cryptos’ Commentary – Exchange Traded Funds (ETFs)

We have another one being launched today by Valkryie and another next week by Van Eck.

Roll on a physical spot-based ETF. Then we will see some proper price action.

Curious Cryptos’ Commentary – Technical Analysis

The CCC maintains an extremely sceptical stance towards these snake oil salesmen.

But I am willing to relent a touch if this chap turns out to be right:

“Techdev Still Insists Bitcoin Is ‘Nowhere Near a Top’

26 days ago on September 24, Techdev tweeted “$200-300K bitcoin looks almost too programmed” as he shared a chart of Fibonacci stats. On October 20, as bitcoin (BTC) continues to hold above the $64K handle, Techdev is still very optimistic.

Chart shared by the Twitter account called “Techdev” on September 24, 2021.”

I remain unconvinced of the value of drawing lines on a chart.

But if he says the BTC price is on the way up, who am I to argue?