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1-BTC

Bitcoin BTC/SPX500 negative correlationsWe often hear about the dream of Bitcoin decoupling from the major markets and how that will look and when that will happen. I think it is a great topic to pay attention to and take note of. You want to try and use ANY and EVERY tool you can to be a better trader and or look for any opportunities to seek out a correlation missed by others and use it to your advantage if and when possible. I think that the delays in Bitcoin and the SPX at times on trading days while the major markets are open can possibly be used as an advantage to some traders, especially when trading on really low time frames and making split second decisions..
SP:SPX
by rarebreed29
Bitcoin (BTC) • Not looking good while we don't reclaim thisHello Kings. So we are back in to chop-land and funding rates ping-pong. Effectively, I m not bullish WHILE we don't reclaim above 19.4-19.9 range and ideally funding rates weighted by open interested also turn negative OR we revisit that lower range. While that doesn't happen I am waiting to see the test of 17.5-18k range since the orderbooks show strong demand in that region. Watch the full for more details and nuanced explanations what heuristics I am looking for. If you like this video don't forget to hit that like/rocket and follow.
COINBASE:BTCUSD
by D7R
2
Bears are winning todays Bitcoin BATTLE.As stated in prior updates this morning i expected to see the range at $19.5k taken by the bears and then for them to follow up with a line in the sand at $19.4k for the next TEMP. line of R. This has taken place and the bears co0ntinue to remain in control and i foresee them continuing to walk the Bulls down level by level. The next level they are taking is the $19.3k range unless the Bulls step in with more aggressive buying orders this will shortly become another level lost to the Bears. In the bigger picture all of this is a GREAT range to begin DCA and or accumulating your start to a Bitcoin future. However, if you're trying to trade daily/weekly/level by level than this is the information you're most likely looking for.
by rarebreed29
1
Is $19,500 lost now? Bitcoin update. This might not age well, its early and markets are on the move. However, i thought it might be worth noting to others thinking it's a BUY the dip only moment to kill it. I would just like to mention a few reasons to exercise CAUTION. It seems that the global drama continues, and the war is escalating this morning in Ukraine and with Russia. This WILL have effects on the markets as they open. The markets can and typically will pull all of crypto and Bitcoin down with them. Another point i would like to make is that ALL weekend we just ranged in the $19375-$19575 range. the bears slowly and methodically took control of that narrative and walked the bulls down level by level until at the end they boxed them in just under the $19.5k range and stopped allowing any candles beyond. This lead to the $19,375 bottom becoming a real support and the range top just coming down. Now that the $19.5k has been lost i would expect the bears to try and defend the old support as their new line of R for the bulls. Currently the Bulls are making their best attempts at pushing up but so far i see not even wicks of candles breaking passed $19425. THEY ARE holding the line now at $19.4k the wicks above are FUEL your feeding them to make more gains on the small pushes down they get. Proceed with caution, market open will be wild.
by rarebreed29
Bitcoin caution trying to Ape out the diagonal breakout. I would like to express my concerns with the idea of many who are looking to ape into the Bitcoin diagonal breakout should it occur. If you zoom out a bit, you'll find that the diagonal channel can often be far less important than the horizontal and well-defined lines for R and S (resistance & support). Diagonal trend lines are extremely important and useful and helpful tools for T/A, but they can also become highly misleading when people begin to look at them without paying attention to the horizontal lines. Futures markets open soon, and we will begin to get some real direction as well as increased volatility and reactions to narratives as they roll in from markets, world news etc. Bulls have their hands full RN trying to defend the line at $19k to hold as support. In the more immediate time frames Bulls are trying to regain $19.5k as support. Currently $19.5 is turning into current R. In the grander scheme of things if you zoom out and look at the last 4 weeks, you find that there has been constant progress by the Bears to keep walking is down and keeping the overall HIGHS coming down even with market rallies. The entire American stock market as a whole had several good days in a row and many stocks ran quite well to the upside and gave nice gains. However, Bitcoin couldn't even get back up towards the last ATH from relief/oversold rally at the $25k range. Instead, it ended up down at the $23k range for its next ATH. If this trend is to continue, we are looking at $21k range to be the next TOP for the current incoming relief rally, should we get one this week to open the markets. If the narratives overall remain the same, then we are looking at most likely getting BAD news from Fed reports as they come in Wed-Fri. and i would expect RED candles for the markets as a whole which will most likely provide the same for Bitcoin and all of crypto. Trade Safely, cautiously, wisely and remember that staying in the game beats trying to time the game perfectly. Don't exhaust all your capital, careful with leverage.
by rarebreed29
Bitcoin zoom out and be cautious. Trade safely and wisely.Bitcoin is stuck in a very tight range and the tops only continue to get lower. Be cautious with the markets as a whole and realize that Bitcoin and crypto have not yet decoupled from the broader markets especially the general idea of them chasing the SPX, Nasdaq etc. I think we could get a relief rally as we open this week after closing out last week oversold. If we get a rally Bitcoin should have no issues finally breaking back into the $20k range pushing up into the $20.5k and maybe all the way up to the $21.8k. However, without a new narrative from the fed, or globally something like a pause in war or some other sort of actual good news i really don't see it breaking the $21.8k range with any closing bodies of any candles. These higher levels reached IMO would open up really good opportunities for a SHORT all the way back down to $19k min. If the markets crash tom. at open i would expect Bitcoin to end up finally having an opportunity to show us if the $17.5k is truly the BOTTOM and it can find support. I do agree there is a good argument for Bitcoin not having as much sell pressure ever again as it did when it hit the $17.5k as it coincided with the crash of Celsius and #ac etc. However, I would also like to note that the selloff did not yet see the stock market drop below 3500 and if we nuke the entire market down to 3200-3400 that will be a whole other test. Then even worse off if we lose 3300 in the SPY,SPX,SP500 and end up below 3290 something like 2800-3150 I would sadly expect Bitcoin to follow unless that becomes the fi9nal straw and we decouple and crypto finally says they are already fully sold off and it's just over inflated equities and housing and credit markets that need to finish crashing. Until that time comes and we get validation of it, EXPECT crypto and Bitcoin to FOLLOW.
by rarebreed29
Ethereum spy s&p500 #BTC Bitcoin SPXLooks like we might be able to hold the line in the markets at this last weeks test of the lows, i.e. about 3700 on the spx and in that $19.5k range of the Bitcoin. Ethereum looks to be holding the range at $1325. We wont really have direction until the markets fully open and we see what the big boys and major algorithm trading bots do with the bigger cash flows. There's a VERY good chance that we go lower today, especially this being Friday. Be very cautious with making moves going ALL in on this DIP. Stay safe and trade Wisely and remember to preserve capital at all costs in markets like this.
by rarebreed29