Sleepy bitcoin waking up?

This article is so good,
it's for premium members only.

Does that sound like you?

Already a member? Sign in.

Introducing ZeroHedge Premium. Why Premium?

BASIC

Snowflake

FREE

REGISTER TO UNLOCK THESE FEATURES

- Commentary and Analysis
- Daily Recap Newsletter
- Community Comments

SELECT

PREMIUM

Jack's Lack Of Censorship

ONLY $25/MONTH

BILLED ANNUALLY OR $30 MONTHLY

All BASIC features, plus:

- Ad-free environment
- Unmoderated comment section
- Premium commentary features including user tiering and comment tracking (coming soon)
- Access to private, invitation-only Zerohedge twitter account
- Exclusive access to The Market Ear content
- Access to Newsquawk breaking news and market squawks, and discount for real-time commentary
- Early glimpse at all our posts

SELECT

PROFESSIONAL

Project Mayhem

ONLY $85/MONTH

BILLED ANNUALLY OR $100 MONTHLY

All PREMIUM features, plus:

- Access to our constantly updated research database via a private dropbox account (including hedge fund letters, research reports and analyses from all the top Wall Street banks)
- Notifications for new posts, breaking news and comment replies (coming soon)
- Discord-based chat and commentary rooms (coming soon)

SELECT

INSIDER

Paper Street

COMING SOON

STAY UP TO DATE

All PROFESSIONAL features, plus:

- Direct access to Zerohedge staff
- Full archives

Bitcoin - time to get excited?

BTC is closing in on the big 24k level. BTC has reversed off this level on various occasions during the consolidation that has been in place since mid June. Note the rising trend line and the fact the 50 day moving average is sloping up again. A close above 24k and this could squeeze hard. Next resistance is the 100 day moving average at 25.6k and then (if) the huge negative trend line at 28k.

Want more of the news you won't get anywhere else?

Sign up now and get a curated daily recap of the most popular and important stories delivered right to your inbox.

Today's Top Stories+

Hot Takes

Courtesy of the Market Ear

Want to stay connected at all times?

Bring live updates on the go through our real time mobile app. Download on https://themarketear.com/

3 days ago at 10:50

Where are we in this squeeze...are we "there yet"? - part IV

See TME's daily newsletter email below. For the 24/7 market intelligence feed and thematic trading emails, sign up for ZH premium here.

Less bearish

Investor intelligence survey has bounced rather violently during the latest squeeze. Overall, levels remain relatively low, but it is the "delta" that matters.

Source: Barclays

Less bearish II

AAII bull - bear spread has moved sharply higher. Add it to quickly changed deltas when it comes to bearishness.

Source: Refinitiv

Less bearish III

Chasing the SPX after the AAII bull-bear spread moving quickly to the upside has been a rather poor strategy this year. Is this time different?

Source: Refinitiv

Less bearish IV

Put call ratio has moved sharply lower during the squeeze. We are not at complacent levels, but once again, it is the delta that matters, at least from a short term trading point of view. Chart shows the SPX vs the put call ratio. People love puts at local market lows...and tend to hate them at local market highs.

Source: Refinitiv

Less bearish V

Things are becoming rather overbought in equities land. Overbought can stay overbought, just as oversold can stay oversold for longer than most think, but buying SPX at elevated RSI levels has been a poor trade for a long time...

Source: Refinitiv

Less bearish VI

Dancing around the 100 day moving average...

Source: Refinitiv

Less bearish VII

Volatility is mean reverting, so the logic of SPX having to close long term gaps vs VIX is not accurate (and some people are pushing this logic lately). Volatility does not trend over time, while markets can trend. Looking at "gaps" on a shorter term horizon can provide insight, but not when looking at longer term charts.

Source: Refinitiv

Less bearish VIII

Are we in a perfect equilibrium here? No fear, no greed? We are still waiting for that overshoot and a real volatility puke as the ideal "set up". It would be interesting to see some greed kick in...

Source: CNN

Less bearish IX

Morgan Stanley's market sentiment indicator has gone from very bearish to overshooting above the upper threshold. The index has various components all aimed at measuring the "fear" factor of the market. More and more people are talking about the end of the bear market. Wilson's latest on that logic is: "... we think it’s premature to sound the all-clear simply because inflation has peaked. The next leg lower may have to wait until September when our negative operating leverage thesis is better reflected in earnings estimates. However, with valuations this stretched, we think the best part of the rally is over."

Source: MS

19 hours ago at 17:38

Upgrade to Premium

Contact Information+

Assistance and Requests: Click here

Tips: tips@zerohedge.com

General: info@zerohedge.com

Legal: legal@zerohedge.com

Advertising: Click here

Abuse/Complaints: abuse@zerohedge.com

DR FaCT CHeCKeR...

BY williambanzai7

Gold Is Going Above $2,500

BY quoth the raven

Sweet Karma: Rabid ‘Social Justice ‘ Movement Implodes, Self-Cannibalizes

BY TDB

Login

This article is so good,it's for premium members only.

Does that sound like you?

Introducing ZeroHedge Premium. Why Premium?

All BASIC features, plus:

All PREMIUM features, plus:

All PROFESSIONAL features, plus:

Want more of the news you won't get anywhere else?

Sign up now and get a curated daily recap of the most popular and important stories delivered right to your inbox.

Hot Takes

Courtesy of the Market Ear

Want to stay connected at all times?

Where are we in this squeeze...are we "there yet"? - part IV

Source: Barclays

Source: Refinitiv

Source: Refinitiv

Source: Refinitiv

Source: Refinitiv

Source: Refinitiv

Source: Refinitiv

Source: CNN

Source: MS

This article is so good,
it's for premium members only.