Trading Spaces recap: Liquidity jitters, BTC’s “last stand” and why privacy coins won’t quit
TL;DR
Macro: Liquidity’s been tight since early November (SOFR/IORB dynamics), but it’s starting to normalize; policy shifts away from max QT should drip-feed support—with a lag.
BTC: Sitting on a do-or-die zone around the yearly open / 3D 100-EMA. Fast reclaim → relief; slow drift + failed reclaims → caution. Cautious bulls view the 94-98k range as a last stand support level, with invalidation on a clean breakdown that fails to spring.
ETH: A shade stronger on lows vs BTC, but still needs trend reclaims before bulls get “fun.”
Narratives: Privacy names (ZEC, XMR, DASH) led—trade the leader until it clearly loses trend; avoid late beta-chasing in thin liquidity.
DeFi watch: Uniswap’s fee-switch proposal keeps the chart interesting, but headlines still drive it—structure first, then narrative confirmation.
