Show notes
Welcome to The Trading Pit, a trader focused show, where your favorite analysts use public and proprietary metrics to unpack the mysteries of the market, determine what’s likely to happen next, and present possible trade ideas. In this episode, Bitcoin broke above $40K but the data suggests it will consolidate in the coming weeks and months. No need to rush into buying - you can wait for a pull back and a better entry. Show Summary:* #Bitcoin breakout driven by institutional interest* Some additional room to run but losing steam from spot buying* Expect some consolidation, with a likely pull back before end of year* ETH/BTC is a potential trade, need to see where BTC tops out Episode Chapters: 00:00:00 Intro 00:00:35 Mood of the Market: Profit Taking and Consolidation 00:02:00 Short Liquidations Driving Price (plus Some Spot) 00:03:30 Options Open Interest - Selling $40K and Buying $45K 00:05:23 Liquidation Pools Signal a Cool Off and Profit Taking 00:07:25 Market Screener: Find Day Trade Opportunities 00:10:35 Whale Wallets Signal Institutional Buying for 2023 00:14:45 Retail is Unsure How to Play the Market 00:17:00 CME Futures Will Signal the End of the Rally 00:17:46 DXY Could Go Lower, More Fuel for BTC Pump 00:20:15 When's The 30% Pullback? 00:26:21 The Possible ETH/BTC Trade 00:29:07 The ETHE Trade 👉 Share your thoughts with the Crypto Enthusiast Survey https://bit.ly/XCGsurvey Follow the team: xChanging Good Studios https://bit.ly/xChangingGood Espresso Newsletter https://bit.ly/espressobrew On Twitter @Marconiwight @MrBenLilly @JlabsJanitor @horushughes @Kodi_thekid @benjamin_skew Disclosure Statement This content is for entertainment purposes only. Nothing shared during this broadcast is or should be considered financial advice. The views and thoughts shared here are simply opinions. Do your own research and consult a registered financial advisor before making any investments. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit xcgood.substack.com
