Friday Market Update - $IBIT, $BTC, $DXY and $SOL Forecast

Aug 30Here's a quick update to the video I posted last week showing a final unfilled Gap on the 4-Hour IBIT likely pushing price down (We're NOT sure yet how this is correlated, other than the BIG money is playing with Options / Futures and now the IBIT, which makes Bitcoin a Wall Street product now essentially.

My targets on Bitcoin now are 57k and I'm thinking we may even see a 'news driven' selloff to the 50k - 52K range into our buy blocks as shown here.

"Show me the charts, I'll tell you the news" is one of my mantras, and with everyone thinking we go higher here, I'm thinking we have one more shakeout to wipe out some longs.

Last week a well-known short posted that he 'gave in and the Bulls Win' showing his 2.5M loss.

Think the games are over? I think not.

So I'm mostly out of the market, holding some SOL and planning to DCA buy lower at levens I mention in the video.

I also dicuss the DXY bounce, Total Market Cap, and why this weekly candle close is important.

Apologies -- the recording stopped when I tried to update one of my alerts, and I have a Labor Day party to finish planning so no time to-record it.

Have a great weekend everyone, and let's see what Tuesday brings when the big Wall Street traders get back from summer vacation and start putting wall-street money to work.