Long

MY MINIMALIST CHART ANALYSIS FOR BITCOIN

Updated

On a Weekly Chart

LONG POSITION -MOMENTUM STRATEGY - SWING
09.07..22
2319H +8 SINGAPORE

Disclaimer:
The findings of the following analysis are the sole opinions of the publisher of this idea and should not be taken as a piece of investment advice.
My Published Ideas are not 100% Accurate. There are many factors at a given time that can change the forecast.

ALERT:
Forecast Entries for a BULL SWING.
Based on VITAL SIGNS ( RSI, STOCH, VOL., MA VOL.) RSI still needs to go down at 20 or below
Bitcoin is also holding strong support at the 20k zone a zone of capitulation that held strong support last June 13.

1. Head and Shoulder has been confirmed when it broke the 29k zone. The neckline target distance should roughly be near the LARGE BLUE BOTTOM BENTO BOX. 1.5k to 9k zones.
2. On a DAILY Chart, The market has made a bearish fib retracement of 0.618, a MEASURED MOVE towards 9k-13K would also be a candidate for an ENTRY.
3. If it breaks the DASHED large yellow trendline and the 17k zone support, the market can easily go down to the next support zone at 13K.

I think, Smart money wants a REBOOT of 2018 and all is possible for the forecasted entries based on numbers and the character of the market now. Let us see how price action reacts on a DAILY chart.
Hoping that this BENTO BOX CHART ANALYSIS will efficiently help you with your DYOR as we Enter a NEW SWING CYCLE for LONG positions, either short, mid, or long term.

INSTRUCTIONS:
HOW TO USE THIS MINIMALIST CHART a.k.a (Bento Box)

"Follow the white rabbit!"
Just Follow the TOPS and BOTTOMS of the BOXES as a GUIDE to where the MARKET will take you.
If it cannot break a TOP or BOTTOM of a BOX, It signifies a reversal.

TARGET ZONE IDENTIFICATION:
The LARGE BOXES (Tops and Bottoms) are MAJOR turning points that will occur sometime in the future. While the SMALL BOXES (Tops and Bottoms) are MINOR turning points.
These can be entries to a BUY/ SELL POSITION, EXIT/PARTIAL EXIT/TOP-UP AREAS, as well as Support and resistance levels
Also includes MAXIMUM TARGET EXIT AREA OF VALUE - CONSERVATIVE (If price action conditions are right at that given moment.)

NOTE:
1. That PRICE TARGETS for ENTRY and EXITS are DYNAMIC and can CHANGE from time to time.
2. Created using data on a MONTHLY, WEEKLY & DAILY Analysis of a MARKET'S CHARACTER.
3. My BENTO BOXES are designed for SWING TRADES at the LOWEST or START of a SWING CYCLE.
4. At times I will include a WAY BEYOND PARABOLIC PRICE TARGET, depending on The Character of the Market (CRYPTOS ONLY).
5. DYOR for your Fundamentals, Volume, Chart Patterns, Candlestick Math, FIB COILS ( ABC ), Price Action, FIB LEVELS, Market Dynamics, AB=CD Pattern especially institutional and retailer trading psychology.

Wishing you all The Best Trades and Thank you all for your Appreciation and Support of My Work.
Much thanks to My 3 Mentors. They are so much of a Blessing that I also wish to share my knowledge.

Vive Le Autist!

Note

On a 4HR Chart : Bearish Fib 0.618 making a measured move down

Note

Failed bearish FIB 0.618 measured move, shift to Fib extensions 10272/1.618

Note

hoping for a double top to push prices further down or for a retest of previous lower low.

Note

On a 4HR Chart: Must fill in the MARKET GAP

Note

On a WEEKLY Chart : DOUBLE BOTTOM , We will wait for a confirmation

Note

On a 4DAY Chart: H&S breakout of the neck line and now on retest for confirmation. If it does, Bento box forecast will materialize for our ENTRIES

Note

CORRECTION on main IDEA, MY MARKERS (NECKLINE) changed to MEASURED MOVE.. I apologize for the mistake

Note

H&S target coincides with bearish fib extension 1.618 . Entry Target zone will really be low . Let us just be prepared and see what happens.

Note

It will also hit the bottom of our blue major BENTO BOX ANALYSIS, which means a major turning point

Note

On a DAILY Chart: Finally BTC is reaching our target entries as forecasted since September 7, 2022

Had added short-term entries as it broke the 17k 1st entry. still looking at 13k zone. Happy Trading Guys

Note

if it breaks the 15k zone for a retest, then it can easily go down to the blue price labels

Note

had failed our 2nd target of 23% but 14% is good enough, now it will retest previous low , bottom of our minor bento box (khaki) and let us see if it breaks it.

Note

On a 4HR Chart: Getting close

Note

On a DAILY Chart: Bit coin has broken through our 1st short and long-term entries

Note

On an HOURLY Chart: Still compressing

Note

On an HOURLY Chart: The market usually will retest the the previous low, so partial entry to the 15k zone will be good and save up for the 14k and 13k zone

Note

On a DAILY Chart: To those who entered near our 15k zone, expect the highlighted orange labels as partial exits. possible retain the 50% for your long-term entries as long-term exits. 16kzone is good against ATH of around 60k zone for the next bull-run

Note

On a WEEKLY Chart: The market has managed to go back to our blue labels and is or may about to break the 15k level, after which it has to fill where the market has gapped down to the 13k zone.

Note

On a DAILY Chart: Entering the green zone where the market has gapped.

Note

On a DAILY Chart: The market failed to go further down the Green Fill and was resisted on our first short-term entry. If it breaks the17k zone, it needs to fill-in the market gap in purple fill, but we need to see a fib 0.382 or a 0.618 retracement before it can climb back up past the zone of capitulation in yellow fill.

Note

On a DAILY Chart : ZOOMED-IN

Note

On a DAILY Chart: Congratulations for Approx. 18% gains. It easily filled the GAP as mentioned earlier, but failed to go higher. Adjusted New short & long-term entry points after our 18280 exit target. Now looking at the bottom of the yellow minor box as probable lower low support.

Note

On a Daily Chart: The market had bounced our 16193.76 and faces strong resistance at our past 1st exit 17216.07 from our 15k zone 1st short term entry.

Bitcoin must break 17k and 18k before we see true bullish signals. I am still bearish about this and prices may still push further to our 3rd short-term entry at 14619.57 zones.

A partial entry will be good by now depending on your risk appetite for a long term trade entry. Just leave some for probable forecasted long term entries.

Note

sorry for the LATE update,

Note

BTC still has the strength to go to 80k target level.

Note

The_Crypto_Samurai

Related publications

MY MINIMALIST CHART ANALYSIS FOR $BTC

by The_Crypto_Samurai

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.