Crown Crypto Capital

There’s quite some spot selling at the moment but Binance is trying to hold the price of Bitcoin up with perps. What will break first? My gut feeling is that Binance is winning this battle for now, although significant liquidity is building around 22k.

Despite all the manipulation at the moment, my LTF view is simple: I’m bearish under 23k but anything above leaves room all the way up to 26k-28k. So far there isn’t much retail interest above 25k while large wallets are heavily selling spot here. Curious to see what tricks the market makers have to push the price higher. FOMC Minutes on Thursday will probably be the catalyst for upside or downside this week.

A week ago I wrote about “complete fuckery and crazy market manipulation” and would like to explain the main reason why I think so. I tried to simplify my thoughts of this intricate situation so hopefully you will get the point.

The rise of Bitcoin from 17k to 25k all has to do with Binance. For a while now there is this mysterious twapper account buying constantly all the time, creating a strong foundation of demand for Bitcoin. At the same moment you could see on chain that insane amounts of BUSD from Paxos got dumped in order to buy Bitcoin and swapped into USDT via OTC trades. We all know about the attack of the SEC on Binance and this way they could state that BUSD isn’t backed by them. This whole movement looks they are exiting the market.

Many (big) twitter accounts would like you to believe that retail is buying again and that we will see 30k, 35k soon. Because of the manipulation and the current fomo I think 30k+ is certainly a possibility but a black swan event seems more and more inevitable.

Week 7 Recap:

LDO +17%

DYDX -6%

Overal result: +11%

I was playing it too safe to sell LDO at resistance. Buying DYDX was not a lucky choice either. Eying a violent outbreak for a while and had some believe it could have happen the last few days. Instead it turned out to be one of the market worst performers. Still one of the most interesting coins at the moment and hopefully it can go back at least to the entry at $3,10 in the coming days.

To all my copiers and followers:

Are you satisfied with anything related to my strategy and communication? What can I do to make it better? Any negative and positive feedback is appreciated, please don’t spare me. Would love to know what you people think and want to learn from it 🙏🙏

Edit: don't know if I should be happy that nobody reacted to my request.

Just closed LDO at $2.91 with a total profit of 32,5%. The last few weeks $2.95 turned out to be a huge zone of resistance. Will buy back if it finally breaks out.

Expecting a bearish retest for the coming days up to $22.5k. Possibly already tomorrow if CPI numbers are not too negative, which seems to be the case. From that point it will be interesting how the market will unfold. On LTF, I’m neutral, on HTF more and more bearish. What happened the last 6 weeks was complete fuckery and crazy market manipulation. The market doesn’t look healthy at all. I was expecting the Binance fud already months ago (wrote about it a few times) so I’m not surprised to see the current news.

Week 6 Recap:

LDO +12 %

Overal result : +12 %

Not many people would tell, but LDO is my favorite coin lately ;-) Not that I think highly of this project, but for me it has lovely price action lately.

Week 5 Recap:

LDO +0,0%

LDO +3,5%

Overal result + 3,5%

Market is choppy and I still wonder what’s happening with the market although it’s starting to look a bit more ‘normal’ again. On the upside I see $24.800 as an important liquidity level to take out and underneath there are more levels to be tapped so I think that this probability is a bit higher. $21.500 is a very important level to watch right now.

Closed the LDO position at entry price, I just don’t trust the market at the moment. Despite Powell’s hawkish speech, the market remains euphoric for no reason. For now I see a bearish harmonic playing out TA wise, and that’s where I will leave it for now.