Long

Bitcoin Indecision - Head or Tails - or ASK ELON

Updated

Publishing Fast

Crazy Movements - a brief SAVE by Elon Musk - Crazy Rebellion Rallies

For now, as you see.. I am leaning LONG on BTC (For a change)

A favorite TA pro on here seems to think we are going for a DOUBLE PEAK and then a big fall
This sort of plays into my former charts.. though I did not foresee the MUSK maneuver

That play changed sentiment...
and may have delayed the big fall or even inspired a second ATH
We won't know until it TIME passes

This week should be interesting

Note: This chart I made my probable predication on price with the green and red arrows
Due to crazy trading in the market, I can't say how accurate the paths will be

Note

Here is a closeup of the past day's BTC action...

You may notice I draw and RELY on my channels and triangles to visualize where price MAY go. Price tends to stay within these boundaries (yellow lines) and then will be destined to 'break out' after some time. The more volatile, the faster the break out. You also start to sense when price will break a trend line, if you watch the prices for a couple hours non-stop. You sort of feel the stress of the movement... like a donkey that is slowly veering off the road, no matter how much you pull his reins. If you then look at your charts and the trend lines, you can guess that this 'deviation' though ever so slight.. is where your break up or down is about to happen. This is what makes day traders so alert to movement.

Another TA Pro on here...
Whom I have really been impressed with lately,, his charts helped ME with my own trading.. because I gave his BTC price movements a high vote of confidence. Reminding you that all charted price movements are NEVER a clone of the actual path, but the pivots he drew were so dead-accurate, I found it spooky.

His call was that BTC would fall a couple days ago (it did) then rise to 36k.. whose 35.6k resistance we bounced off of in the early hours. His chart shows a fall downward.. (remember, it is never a straight walk) to eventually 32k BTC... and then.. a crazy wild ride back up for an ATH. (It won't stay there, it will fall)

The fly in the ointment...
There is a huge prediction about the Chinese New Year. For the last three years in a row, the Chinese all take off this holiday and it is a five day party. They typically stop trading and also cash out to buy gifts, throw parties, yadda yadda yadda. According to an article I just read, BTC suffered big time.. though sometimes the price corrected harsh the day after Feb 12th.

So I suggest all of you make a calendar reminder for the 11th, so it goes off and sets your mind to full alert status. Feb 12 might be the start of the week we visit 25k and even 22k BTC. These could be a bottom. We shall see soon enough.

Reminder about your alt coins.
Most alt coins will suffer during the big fall. You can handle the price deviation two ways. 1- Sell and get back in when it is low again.. or 2- just HODL and ride it out.

Note

This has turned into an ascending channel

The bullish momentum is there...
but there is also a chance it will fall out of the ascending channel
and if a whale knocks it down.. then its all over

I think it needs to escape the channel upward and fast.. to hit 38k

Note

Next snapshot

If you look at this closely.... the price seems to be respecting that yellow boundary which is acting as resistance. How weird, right?

And it makes sense that if the price does not break past it, BTC will most likely turn around and head toward the lower yellow boundary.

And if it goes low enough, then break the channel...

Note

Some breakouts are called false breakouts

I would not classify this as a bull trap.. but if it goes lower, it will trap a lot of bulls in Bitcoin.

For the most part, you already know I was not a believer in any new ATH without our first hitting 32k or even 25k. In light of the crazy things going on this week, I still never rule out anything, regardless.

Note

so it jumped its track...

AND STARTED A NEW ONE!

I had to redraw the lines and the new track sort of self-adjusted

It's a strong channel again

Note

I got back into ADA at .435 just now
here is why...

4 am - my Tradingvview alert alarm started blaring
Woke me to show that BTC fell to the alarm target
This was comical, because the alarm was set to repeat at each crossing
and it kept going off over and over

I thought to myself, GOOD CALL!

The alert had been targeted for the BTC 200 day moving average
price corrections often halt at a coin's 200 MA... and hesitate
In a bullish trend, it can hold, accumulate then bounce back up again

Note: 50, 100 and 200 ma are great standard indicators anyone can set in their chart

Second reason I liked this target price...
This was just above my yellow channel support line (see my charts)
and if BTC fell further than that, it meant more downside dips to trade

Normally I get back in when this happens
ADA was at .417 and other coins were okay, slipped a bit... but not much
I thought price would stay low for a few more hours...
So tired... not thinking straight, rationalized 'what would I miss in 6 more hours?'

and I missed EVERYTHING
ETH jumped to a new ATH leading the way for alt coin rallies
OMG and AAVE and LITECOIN are killing it just 7 hours later

all the top analysts report the whales are loading stable coins on the exchanges.
These are used to BUY.
The market indicators show we are riding up the rising leg of an inverted head and shoulders, a bullish formation.
The stimulus for the US is looking good and other factors.

I am not saying this session is a moonshot.
But we could easily reach 38k in the short term.

ADA is set to hit 2.20 in the coming weeks.
Whales are into ADA and holding.
So I am thinking ADA MIGHT make a big jump very soon and break it's channel to go past .45 to .50

that is my gamble and the channel chart below looks promising to me

Note

All good deeds go punished...

LOL

Last night I planned out five coins that I felt would do at least 15 to 20 percent.. if Bitcoin had a run to 38k
I have talked about all of them recently, all except DogManure Coin
Doge is high risk and a stupid bet.. good luck might be on your side, if you figure out the timing miracle

Overall, my favorite horse is ADA
the others were Aave (proven reliable), OMG (the dark horse) and ETH (the obvious horse)
and Doge (the jester horse)

I failed to act at 4 am, as you all know...
and had another shot at this... in the later morning
BTC was still bullish and had room to grow

I decided on ADA. Made a little money, got out, got in

But when BTC ran again big time
I stayed in ADA..
The other coins ran up 15%, 20% and so on

And I am still here holding a coin idling... doing nothing... all this time...

So.. if any of you looked into the other coins I talked about in the last week
You should checking out all your new bags of cash

At least I called the best coins correctly, right?

LOL

Note

Fast general forecast

The ARROWS ARE NOT EXACT PIVOT POINTS.. they are general direction

We fell out of the perfect channel... and now we are on a new trajectory
It appears to me we could form a double top and then crash
Chinse New Year could accelerate the fall in coming 8 days

On the other hands, bulls could push this higher again, but we need Musk LOL

Note

ADA is mooning....
First half of its leg up is done.

But as you know, I was getting frustrated with the coin.
And... I got fooled into dumping it.

For 24 hours, the price would start to moon and stop.
Then it collapsed.. far down
Then came back up not far from my buy price..
and then ar down again.. 5 times.

By the time the price came back...
I sold another coin at a profit and just wanted to be liquid.
Sold ADA at a loss. Thinking the coin failed its moon shot
AND THEN IT MOONED when I wasn't watching.

Man, I was angry.
So I developed a new strategy.

I am trading Aave and doing very well with it.
HOT coin, moves super fast, you really want to buy it at a dip and only at a dip or it could burn you.

So I set a price to buy well below the current price....
at a number I thought would be passed and swept up if BTC had a crash.
Aeve recovers super well during BTC crashes; it re-inflates its price.
This is because it a toy of whales. They hoard it.

I thought about chasing ADA, which is near its local top (.50)
and then thought, why chase a coin that could easily come down.

So I remembered OMG was set to double! And its run just started! So I bought OMG and I am holding.

So here is my thinking... ready?

If BTC crashes, I win..
Aave wins -e I pick up Aave at a low price and sell it high for a big profit.
OMG goes into HODL - it will lose value but it's a strong coin and.. WE ARE IN A BULL MARKET... it will eventually rise again.

If BTC runs high
OMG wins - and be on its its MOON path.
Aave - since my trigger to buy this coin never engages, nothing lost! (and the coin already mooned)

Whatever BTC does, collapse or jet higher... in theory... it is win win for me.

TradeClass

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