- Christmas Market Update (Bloody Santa Version)  🎅🩸-

Despair, fear, sadness... not exactly the typical emotions of a classic Christmas, are they?

Time for a mega "clarification" market update freshly offered, hope you'll enjoy it. (and that will calm your nerves)

The collapse we saw was nothing but something already anticipated at the beginning of August where I shared the most interesting levels to pay attention at: https://t.co/udXCulJ5aR

While the majority of people were bull-posting at the highs because of the "ETFs" or similar stories intended to make you FOMO, I was suggesting to proceed with caution because, together with the targets shared,  AMT was pending as a Damocle's sword on the market's head: https://t.co/aLTmMo75sx

I also shared something extremely interesting in my  channel, a fantastic short opportunity at 108.200 where I had the confluence coming from the -0.5 & the 1.454 Fib levels, in order to provide you more "sauce": https://t.co/AN1mEHlpU8

But let's now proceed with the real dish. (Covering altcoins, you know what I think about Bitcoin overall)

- TOTAL 2 -

In the last TOTAL 2 update we were seeing the capitalization hitting a multi 20H TF HOB suggesting to pay "semi-careful" because it could have provided a rejection targeting the 1.33T where we had the multi-week supply turned into a BB: https://t.co/9NNXn1FFSD

As you can see from this updated chart, the price has taken out the level dipping at 1.22T but we didn't have any HTF closure below this zone which is the crucial and essential part.

When such key levels get hit we have 2 potential outcomes:
- They provide an immediate powerful reaction
- They continue to "melt" liquidating positions just to provide a false sense so retails panic sell their positions nourishing the necessary liquidity for pushing the prices more

And is the second option that I'm taking into consideration as long as we don't close HTF below 1.22T that would likely mean ruining the whole structure and compromising further bullish impulse.

Now in my opinion the previous HOB is no longer valid (apart from the 20H that could provide a LTF rejection -> BB) so keep your eyes open on the 1.64T and on the previous ATH at 1.71T (previous highs are always "careful levels")

- BTC D- 

Many people have been pretty much "concerned" about the last BTC D. upside, but if I watch it from an analytical standpoint, nothing has changed.

We tapped into a 3D PHOB that matches the 70.50% Fib and wicked into my favorite "retracement box" (70.50% + 78.60% + 88.60%) so technically speaking this is a bearish retest.

I would start to be concerned exclusively if we close HTF above 61.53% but this isn't my primary case given all the considerations made in the past.

It's also absolutely interesting to notice the multiple confluences provided.

When BTC D hits this level, ETH touched both HTF liquidity areas shared here: https://t.co/mlM38seGbD and also TOTAL 2 hit the BB, very curious, isn't it?

- USDT D -

Last but not least, the USDT D.

The metric has taken out the bearish liquidity at 4.20% (the one that ignited the pump till 108K) and then reversed back from 3.80%, as proof of the strength of the level.

My eyes after that touch were primarily on the 4.40% where we had that 6H OB + 0.618 & 0.5 Fib as main confluence for a potential reversal and while we have wicked above at the moment (4.61%) the important is to not close HTF above 4.52% in order to avoid a huge pick of liquidity into the 5D LB at 4.80%.

Not my main case at the moment.

Below we still have that 3.80% but we have already mitigated it multiple times contributing to make it weaker so if we will see new highs, that level will be broken, sending the USDT D at 3.30% (multi-day OB) and where we will see a powerful correction once again, likely.

- Final conclusion -

As I was bearish before, I'm trusting my plan and I'm accumulating + opening some longs on interesting altcoins that have reached their HTF liquidity levels.

To me, this is a shakeout in order to absorb the necessary liquidity before another push and I will treat it as such until proven otherwise.

Of course, I don't have the crystal ball and I will always re-adjust if something changes, but as posted yesterday, Kendrick Lamar might be right saying: "Now or Never".

Oh, and if you like my posts don't forget to press the repost and like buttons, they mean a lot for supporting my work.

Happy "Bloody Christmas" by SM.

Happy "Shopping" if you trust your plan.