Bitcoin-btcusd
Bitcoin- Flew Fast but what's next?Hi everyone,
previously we had nicely called the 'expansion' in the early stages (perfectly one can say) from 18,000ish to 20720:
Fundamentals allowed it and we listened and read the situation nicely:
Eased inflation,
Good jobs and unemployment,
Biden saying 'Good news',
Amazon and Google cutting crypto deals
So we are now at 20,720 which was our target and price is going sideways looking for the next moce which will be unpredictable until it becomes predictable.
It's a video..listen to it and share your comments.
One Love,
The FXPROFESSOR
PS. Watch out for the Chinese GDP....World economy will be volatile this year
Which flag is bitcoin waving?If you find this information inspiring/helpful, please consider a boost and follow!
Any questions or comments, please leave a comment!
Also, check out the links in my signature to get to know me better!
Still working this video thing out. Going to be using TV as a rough draft. So uploads on other places will have the corrections and will be cleaned and scrubbed of all the fun non word noises.
Still not convinced of the bottom is in, and here is why!
BTC Detailed Top-Down Analysis - Day 124Hello TradingView Family / Fellow Traders. This is Richard Nasr, as known as theSignalyst.
124 out of 500 days done.
I truly appreciate your continuous support everyone!
Let me know if you like the series, and if you would like me to change or add anything.
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
AW Bitcoin Analysis - Long-Term Idea and Potential Bottom...When I go back to analysing FIAT currencies after a while it always gives me new insights on Crypto's.
Am I bullish right at this moment? Not exactly but if I were to turn bullish, I would need to see some things.
Markets do not always turn at the same time regardless of what the US Dollar is doing.
That's why I use the US Dollar as a leading indicator for potential possibilities.
If everything adds up, then I am more likely to make an assumption or produce a trading idea.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
Daily Bitcoin Update - Bitcoin holding on to support! Just!Evening all,
Full TA in the video as usual. Some notes:
Remember to hit the BOOST
-Firstly, apologies I ran out of time but believe I covered everything
-Bitcoin currently holding on to trendline support, the bottom of the range support and fib support - an area of confluence - will it hold?
-The bigger picture - Bitcoin is trading in a large rising wedge which is a bearish pattern. A very bullish move would be a move higher to test the upper trendline of this pattern.
-Smaller picture Bitcoin was trading in an ascending triangle but formed from a price drop. An ascending triangle is a price continuation pattern and we were expecting a break lower which has now happened.
-All we can do right now is wait until an opportunity presents itself.
-If Bitcoin does break lower then the measured move is around 15100 - 15600.
-If it holds we could see Bitcoin trade in a range for an extended period.
-The whole of 2023 could be sideways movement before the price eventually continues higher. If so understanding the range Bitcoin is trading in early could be very valuable. Where are key support and resistance? What is the very upper range limit and the very lower range limit?
- In the video, I mention a long-term strategy that traders should start to think about now. The question to ask yourself is
"What coins do I want to be holding for the next 12-36 months and will they generate the maximum return for my investment."
Even if Bitcoin moves lower or takes another leg down I think the buyers will be there in mass and the price may not remain that low for very long. Also, there will be a lack of sellers who will suddenly flip bullish. So think about strategy now and not so much about catching the very bottom. Blink and you could miss it.
This is not trading advice.
Thanks for taking the time to watch the video.
Be patient and stick to your strategy!
Please hit the boost button if you like this update.
Back tomorrow.
Thanks
SIMON BPOI
Daily Bitcoin Update - general overview of the days tradingEvening all,
Full TA in the video as usual. Some notes:
Remember to hit the BOOST
- Volatility Thursday - Initial jobless claims and GDP price index were announced and showed a strengthening economy which is not what the FED want. The rate hikes are aimed to weaken the economy.
- A strengthening economy could lead the FED to be more Hawkish
- The SPX, ES1 and Nasdaq reacted accordingly moving lower
- Bitcoin moved lower at the same time
- Throughout the day we were monitoring the Inverse Head and Shoulders on the 4hr TF looking for the right shoulder Higher Low which was printed on Binance but not on BTC/USD so it pays to look at both charts
- Bitcoin now is in the same position once again and needs to break above $16910 and flip this into support to move higher.
- Bitcoin is currently facing the resistance of the upper trendline of the falling wedge on the right shoulder, there is fib resistance at 16867 and also the main resistance at 16910.
- With everything shutting down for Christmas are the buyers there to push this price higher? Volume is required and although there is volume at the moment will there be enough to break 16910.
- We also have more news tomorrow with the PCE price index . A higher-than-expected reading could lead the FED to be more Hawkish. Should this be the case the markets may well start pricing this in.
Right now we ask ourselves
1. What is the strategy if Bitcoin get's rejected again by 16910?
2. What is the strategy if Bitcoin breaks higher and holds 16910?
3. What is our overall market sentiment and do our strategies fit with it?
Thanks for taking the time to watch the video.
Be patient and stick to your strategy!
Please hit the boost button if you like this update.
Back tomorrow.
Thanks
SIMON BPOI
Daily Bitcoin Update - Bearish Weekly Candle Close!Afternoon all,
Full TA in the video as usual. Some notes:
- Bulls tried very hard last night to get something out of the week in a daily candle close above the previous but failed. Intense sell pressure
- The weekly close is signalling a bearish reversal. IMO we might see another red weekly candle despite any relief rally from the bulls
- Keep an eye on the potential trading range, bulls and bears tusling for position. A break down from the bottom of the range 16698 may lead towards further downside.
- Premarkets were green but turned red within minutes of open. SPX and NASDAQ dropping and Bitcoin moving with it.
- Some bullish divergence coming in on the 4hour which might result in a light relief rally.
- Bitcoin dominance is still moving upwards - watch your alt coin positions. IF dominance pumps and BTC moves lower your alt coins will get rekt.
- USDT Dominance moving higher. Traders moving back into USDT and waiting on the sidelines. Sensible!
- SPX, NASDAQ and ES1 are all trading under strong resistance. Another rejection could trigger a swift drop lower. Take a look at previous video.
- Lower low confirmed on the daily time frame signalling a possible new down trend. Bare that in mind when trading.
- A lower high would confirm the downtrend.
- Overall looking bearish
Events
NOTE: Thursday 22nd - Jobless claims data is out.
Initial jobless claims have a big impact in financial markets because unlike continued claims data which measures the number of persons claiming unemployment benefits, Initial jobless claims measures new and emerging unemployment.
PCE price index data in on Friday!
Be patient and stick to your strategy!
Please hit the boost button if you like this update.
Back tomorrow.
Thanks
SIMON BPOI
Fed Chief Powell Hawkish, Dovish 🤔💭🧐Overall Powell sounded more hawkish last night thus market took a little dive but things could start getting better today as the market is estimating a 5-5,5% final rate.
Let's not forget that inflation eased which is a good sign.
In the meantime , SP500 is in a strong structure and at support 3980 at the moment , most likely to rebound towards 4072 today.
In the meantime, both the US Senate and more importantly the G20 are striving to build a policy consensus on crypto assets to inform better global regulation:
'The discussions come after the collapse of the cryptocurrency exchange FTX, which has led to calls for better oversight of crypto markets.'
One Love,
The FXPROFESSOR
🌐💲Federal Funds Rate Or ⚽️🏆World Cup ? 🌐💲Federal Funds Rate tonight.... in 2h from now we will see the hike (expected to be 0.50). Given that inflation yesterday was eased (thus the pump)today we might see and most likely hear from Powell that the Feds are softening and will save the markets from further pain.
⚽️🏆At the same time France vs Morocco semi on:
First African/Arabic/Muslim nation in World Cup Semifinals!
Will Morocco make history?
Will Messi win it and make history?
Will Kylian Mbappé win his second one and make history?
And what will we do? Will we trade or watch the game?
Well, I'm watching the game my friends. Watch the video to see my trades and remmeber to risk carefully.
One Love (not in a gay way, in a Rastaman peaceful, one World One Love way),
The FX Professor
WOW: 😎🙌💙 twitter.com
AW BITCOIN ANALYSIS - An Overview of the Current Wave Setup...I am back after a good break and ready to bring you the best wave analysis on the web.
The move down continues in this Crypto Winter\Bear Market.
This video breaks down the larger picture with large degree wave counts and then down to recent small degree moves.
Through process of elimination, it became clear that this move down is nowhere near complete.
Current Wave: We are currently in Wave ii of Wave 3. In Wave B of Wave ii which is expanding to the downside similar to Wave 2.
I expect Wave ii to complete below $18,000 or the end of Wave i.
The reason for this is that the larger move down (WAVE C) will get weaker as time goes on including all it's corrective components as they expand to the downside.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser, I suggest using this only as a guide. Always do your own research.
Bitcoin chilling at lows can we bounce or down-only?Bitcoin is back into sideway PA.
Macro trend and lagging indicators still looking bearish.
However, I see the chance that while trading above 16.2 we have shoot at trying the upper ranges like 17.6 or the 18.4.
Check the video for more nuance talk through some of the data I look at and the technical structure I am currently paying attention to.
If you want more details and learn about different Bitcoin advanced data points don't forget to check links in signature field.
BTC Detailed Top-Down Analysis - Day 98Hello TradingView Family / Fellow Traders. This is Richard Nasr, as known as theSignalyst.
98 out of 500 days done.
I truly appreciate your continuous support everyone!
Let me know if you like the series, and if you would like me to change or add anything.
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
XRPUSD top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
BTC Detailed Top-Down Analysis - Day 87Hello TradingView Family / Fellow Traders. This is Richard Nasr, as known as theSignalyst.
87 out of 500 days done.
I truly appreciate your continuous support everyone!
Let me know if you like the series, and if you would like me to change or add anything.
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
BTC Detailed Top-Down Analysis - Day 86Hello TradingView Family / Fellow Traders. This is Richard Nasr, as known as theSignalyst.
86 out of 500 days done.
I truly appreciate your continuous support everyone!
Let me know if you like the series, and if you would like me to change or add anything.
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
Bitcoin bounce update. Markets don't move just one way, remember that as you try and open your mind to current realities and expectations. This is not a bounce to just blindly chase and think we now have a new relief rally coming again like 2 weeks ago. Most likely this is just a temp. reaction to the Bears /sellers being exhausted and letting up for a moment.
Keep your expectations realistic and don't chase for moon gains right now. I think that the $19,375-$19,575 range is now going to be for the near term a strong R to get above and turn back into support unless we get a larger rally from stocks and or better news from FED meetings etc.
Do not chase this as if we just made a double bottom on the SPX and your FULL SEND/BUYING Because the harsh reality is we need to wait for real direction from the fed meeting as they begin to come out Wed.