BITCOIN - Bull Time
Updated
BTC
Has today broken out of the descending wedge with impulse and back above the red 200MA.
So its back into "bull territory" here...
And as I covered in the video, the next bull phase is likely to be very soon.
Good chance this is a real impulsive beginning here 👍.
Not advice
Has today broken out of the descending wedge with impulse and back above the red 200MA.
So its back into "bull territory" here...
And as I covered in the video, the next bull phase is likely to be very soon.
Good chance this is a real impulsive beginning here 👍.
Not advice
Note
Bitcoin is printing a wild whipsawing upper wicked candle.
This is a liquidity shakeout through resistance to trap longs trading the breakout and stop out shorts.
And so there may be some more correcting to do in this area before the real push up 👀.
Trade active
The bull trap shakeout was followed by a bear trap shakeout and thus we have what I call a "Loop the Loop" shakeout ; just like a fairground ride that goes around in a loop only to arrive where it started 🎢.
This is a liquidity manoeuvre wiping the slate clean in both directions from over leveraged traders.
Market makers often wipe clean before major moves, so this might be a little clue that the next major wave up is underway.
The gravy train up continues 🚞.
Note
Week candle was a monster; closing @ 69K.
There will be a big gap up on the week chart in crypto related stocks tomorrow.
Gaps on the week chart are often very significant.
And will most likely be a breakaway gap.
Bears are dreaming that this trendline will hold and this fractal go on forever...
And we may yet see a small reaction as sellers take profit...
But as I've been saying since August lows; this is the next wave up.
Momentum is building.
And Bitcoin is looking very bullish.
Time to say goodbye to your bear friends and wish them the best of luck on their next endeavour 👋.
See you @ 174K 😼.
Trade active
So, the obligatory exit slump from the trendline happened down 4%.
That might be the automatic sell off done already.
Bitcoin is now printing a choppy descending channel and that is a sign of downside weakness.
It still hasn't re-tested support @ 66.5K and there is higher liquidity there that the market makers may like to tap into.
But looking positive here.
I dont think it will be too much longer before the upper trendline full breaks 👍.
Note
BTC
That's a little bullish Morning Star candle pattern with the last candle near completion btw 🤨.
Note
Lower wicked candle signals strength as the slump below support has been quickly bought back up.
That could be the trendline sell off complete.
We're getting very close to the next wave up I think 👍.
Note
Hammer candles in the week show buy pressure coming in and that was a little clue that support will hold.
And now after a few shallow candles a breakout has begun.
RIP shorts 💀.
Trade active
In the blink of an eye its 73K.
Shorts are rekt.
Doubters are disappointed.
Altcoins are breaking out.
One of my favourite DEEP and wild coins; MASK just popped 40% in the space of a few hours.
Much more to come 😼
Order cancelled
Bitcoin has printed a nasty whipsaw on the week chart and so the real bullish phase appears to be on hold.
As it has been moving through this top, Altcoin Dominance has capitulated and altcoins are getting smashed, some appear to be moving into higher time frame waves down.
So a very interesting area.
I am bearish in the short - mid term.
I'll hopefully make a video at some point soon as there are many factors to consider in this area.
Note
I didn't bother to update this thread after the obvious happened. But I have been bullish since the shooting star was engulfed and working with my clients to be fully organised in coins and related instruments.
Bitcoin is of course now very bullish and on my long term path to 174K.
I'll make another thread sometime; perhaps a video.
Note
Nicely back in the pitchfork and into the next wave up 
We're into the post FED interest rate cut blow off phase for risk on markets🥳.
I have many great deep value opportunities ❕
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I have many great deep value opportunities ❕
Many Trade Ideas Every Day 📈
Regular videos ✨.
Telegram Group: $50 per month 👍🏻.
Contact: t.me/dRends35
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