Thoughts on the market as of 01/30/2021

Bitcoin yesterday reached 38600, after which it began to decline, went below 35K and now found support around 33200-33300, where it is currently being traded.

Market capitalization is 978 billion, dominance index is 63.1%.

Stock markets fell yesterday as expected. The Dow Jones fell 2.03% to hit a monthly low, the Nasdaq fell 2%, the S&P 500 shed 1.93% to close at 3714. Oil is holding above 55 for now. The volatility index has risen, fear and uncertainty are entering the stock market. At the same time, the market is falling against the backdrop of good data on the costs of individuals and labor costs, which were released yesterday in the United States. However, the last few days, economic data have not been of great importance to the market.

The main events, watched with interest by people from all over the world, unfold on the battlefields of the WSB against Wall Street. If on Thursday WSB traders were simply turned off the BUY button, and this gave the funds some breathing room, then yesterday, under the onslaught of public opinion, Robinhood was forced to return the opportunity to buy the shares with which WSB works. True, with restrictions and on unfavorable terms. And nothing is said about what will happen to those who were forcibly closed positions and sent such letters:

No description.

Many traders made good money on this story, some of the participants made millions, the companies whose shares were involved in the case got out of the hole where the market pushed them with the hands of funds. What consequences this story will lead to the stock markets in the short and long term, what will be the reaction of regulators and how market participants will react - we will find out soon.

Bitcoin did not hold on to the heights to which Musk threw it yesterday, and returned to the range that was indicated yesterday.

The week passed quite calmly - there was no negative from Davos, on the contrary, quite sound judgments sounded that the most important financial instrument of crime is not Bitcoin, but 100-dollar bills. Now the regulators are clearly not up to the crypto market, in connection with the events that are unfolding in the stock market, and this is good, since for the crypto market, regulators and their inadequate actions pose the main threat (although not critical).

Bitcoin is working out option 2. A strait to 30K and a false breakout for a short time below 30K, we have already seen, we also went to the upper border of the range yesterday, now we are in the middle of the range. The priority option for the weekend is the movement of Bitcoin in the range of 32,000-35,000, the growth of altcoins, the return of market capitalization above 1 trillion. 

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