The Wolf Of Few Streets

2023-11-21 19:55:38
BINANCE CEO CZ IN DISCUSSIONS TO STEP DOWN AS CRIMINAL INVESTIGATION ENDS- FORBES Open / Comment

2023-11-21 18:54:00 Just started moving towards correction, and a little bit of positivity showed up.

Department of Justice to announce Binance settlement in press conference today. Open / Comment

2023-11-20 20:42:19 The market had priced in a worse-case scenario, therefore there will be a predominance of positivity.

US SEEKS MORE THAN $4B FROM BINANCE TO END CRIMINAL CASE Open / Comment

2023-11-15 21:20:12 After all, we're seeing a correction... The support at 34,700, should, theoretically, hold up. I don’t really see any major reasons for this. It seems more like a decision to cash in profits. Open / Comment

2023-11-14 22:05:36 After all, we're seeing a correction... The support at 34,700, should, theoretically, hold up. I don’t really see any major reasons for this. It seems more like a decision to cash in profits. Open / Comment

2023-11-14 16:31:26 Should be positive

US Oct Consumer Prices Unchanged; Consensus +0.1%

US Oct CPI Ex-Food & Energy +0.2%; Consensus +0.3%

US Oct Consumer Prices Increase 3.2% From Year Earlier; Core CPI Up 4.0% Over Year

US Oct CPI Energy Prices -2.5%; Food Prices +0.3%

US Real Average Weekly Earnings -0.1% In Oct Open / Comment

2023-11-14 14:58:17 Good day dear friends, sorry for the brief absence, I was on a short vacation, I hope everything was good with you these days. Due to a large number of events, this post will be a bit longer.

Now about the market, what catches the eye... Yesterday, the reason for the sharp decline in Bitcoin was a strange event. The reason was another fake announcement that BlackRock applied for an XRP ETF. This was followed by a strong increase in Ripple, and accordingly, thanks to the outflow from Bitcoin. Later this news was debunked, Bitcoin recovered a little bit, but most traders did not rush to return to Bitcoin and the bulls failed to return to their original position.

If we disregard this event, we will see that the price was stuck around the level of 37,000 these past few days, indicating that without any fundamental events, the market was not very inclined to correct, one might even say, it was not planning to correct, which suggests the continuation of the bulls' dominance.

Today, in 1 hour and 30 minutes, CPI data will be released. Based on the above, I expect strong movements because if the data is favorable, the bulls will be able to quickly jump back into their long positions, but if there is negative news, the bears will continue the correction more boldly. The bulls' target is currently 39,200, and the bears' resistance is at 34,700. At the moment, I am more inclined to continue the bullish scenario, unless the news interferes. Open / Comment

2023-11-01 20:25:27 We bounced off the 35,000 level and moved sideways for several days around 34,000, just as I wrote in the previous post. Now a series of fundamental events could shift us from this level. The decision on the rate will be published in 35 minutes. The market has 99% priced in the scenario that the rate will remain at the same level. At the moment, I think the movement will depend more on other events, namely:

1. Coindesk analysts say that major participants in the bitcoin options market are interested in breaking through the 36,000 level. From my point of view, the scenario is logical and highly probable.
2. Microstrategy's report is coming out today at 20:00 GMT, currently they have 158,245 BTC (5.4 billion $) on their balance. If there is a significant change, the market may react.
3. Powell's press conference after the rate decision. As always, market participants will evaluate the rhetoric to understand further actions in monetary policy.
4. Tomorrow, the SEC is conducting a review meeting regarding the decision on the transformation of the Grayscale Bitcoin Trust into an ETF. There could also be surprises, predicting Gensler's actions is difficult for me.

So, I will refrain from forecasting for now and will write my opinion when there is more information, but I want to let you know that a squeeze around 36,000 before the correction is very possible.

Rate decision in 35 minutes and Powell press conference in 1 hour 5 minutes. Open / Comment

2023-10-26 21:44:07 We've dropped to the 34,000 level as I wrote yesterday. Now I'm curious to hear your thoughts, which will come first 36,000 or 32,000? Open / Comment