BTC CME gaps @3135, 3565, plus deleveraging event. Stay out. BITCOIN FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME:BTC1! Jonathanaustro Stay out for two reasons: 1. Global economy: It appears we are in the early stages of a dollar liquidity crisis. The Fed is pumping a $1TN steroid injection into the markets but no one gives a damn. As the Fed shows its impotence, the economy is faced with its immense dollar-denominated credit balance. Long term this will validate BTC , but for the near term, dollars, relative to credit, will be more scarce than even our beloved 21m-capped bitcoin . A deleveraging event is in motion, and holy sh** are people puking. 2. Pure technicals: We have CME gaps down at 3135 and 3565. If we fill these, momentum will be pushing heavily down, suggesting a potential break even lower. 3. Market psychology: We need the strongest of hands to hold this bottom up. Another puke session can't be ruled out to build a strong, strong foundation. Strategy: Stay out--we have zero confirmation this dump is over. Your stop is going to get triggered in this environment.