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$BTC comparisons, expectation, & pattern forming To the untrained eye, CRYPTOCAP:BTC does look like a double top, but in reality it would be closer to a Triple Top, if anything. Peaks are higher & we're trading ABOVE resistance levels. IMO there is NO #BTC double top! Yesterday #Bitcoin formed an OUTSIDE DAY (this is a so so pattern) $ Flow is not great but the RSI is still HEALTHY! ------------------ Futures #BTC look a little better than Spot, shorts covered already! Strength here is better than last peak by far! ------------------- Inverse Head & Shoulder patterns are BULLISH but best at bottoms. Spot CRYPTOCAP:BTC is forming one at the moment. Drew the "expected" lines on the last chart. #Bitcoin is trading very different and this has been true for some time now. Many are making calls but are getting it wrong because of this, IMO 80-100k this year.
INDEX:BTCUSD
by ROYAL_OAK_INC
$BTC Futures showing different data vs SpotINTERESTING divergence happening at the moment with $BTC. #BTC Spot has RSI falling & sells beginning to pour in. #Bitcoin Futures has a strong RSI & some, light, selling. Wont comment on $ Flow today but will say that both paint slightly different pictures there as well. Weekly shows WHY this area will be tough. This area will not break easy. HOWEVER, IMO, what have we said? The more something hits the weaker that resistance gets. It'll likely break through. But when?
INDEX:BTCUSD
by ROYAL_OAK_INC
Comparing previous $BTC tops & current state of BitcoinCurrent charts (not shown here, this is a weekly chart, se profile for more info) CRYPTOCAP:BTC $ Flow is better captured on spot price. #BTC RSI is better captured on futures price. Weekly is interesting indeed! Both show: Cratering of $ flow as it goes higher, negative divergence. RSI is still OKAY. ------------------------------------------------------------------------ Let's compare the other 2 #Bitcoin tops: 1st top shows CRYPTOCAP:BTC RSI cratering. $ Flow took longer for futures to show a top but it was obvious on spot price. 2nd #BTC RSI is flat on both, it is healthy on its own accord, BUT is significantly lower than the previous top put in. $ Flow is seen lessening on both futures and spot action. Sell volume obvious on futures, no sign at all on spot. Continuation....... (current chart shown) #Bitcoin buy volume is exhausting. CRYPTOCAP:BTC $ Flow is weakening. This is way more obvious on the Spot chart. However, it did is reach normal peak highs. #BTC RSI is currently trading like the 2nd top, but it is stronger, reaching higher RSI number. Futures are identical to 1st top, but Spot is a little bit lower in comparison to 1st top. RSI is okay on both , healthy even. Shorts have been wiped out and it stands at a low amount at the moment. Warning signs but should retest highs at he least.
INDEX:BTCUSD
by ROYAL_OAK_INC
$BTC extreme bullish sentiment & most orderly movementAs stated before, there's extreme bullishness on $BTC. Every influencer's excited & media is plastering a bull take. They can be right but more often than not they are wrong and can be used as a contrarian indicator. Things to notice: #BTC shorts are @ their LOWEST in a year! Money Flow is lessening. Decent sell volume at the moment. ---------------------- Let's look at weekly data, chart shown. Weekly CRYPTOCAP:BTC shows that indicators are weakening. (Indicators aren't primary means of trading but are used for HELP) Let's compare #BTC to other time periods, shall we? Are we more like early or late 21? This is most orderly run since the introduction of derivatives. Looks almost like an Index, interesting, sarcasm. #Bitcoin #bitcoinhalving #ETF
CME:BTC1!
by ROYAL_OAK_INC
Another case showing BTC post is irrelevant as Derivatives dictaDaily CRYPTOCAP:BTC shorts are non existent at the moment. Short term, the #BTC downtrend is still intact. There's a tiny symmetrical triangle formed. (direction broken will dictate the push) Volume is paltry. As if there is a wait for something. $ Money Flow & RSI not showing much. ---------------------------------- Weekly Chart $ Flow better vs Spot #Bitcoin. So much spot was sold yet it held, why? What have we been saying for years?!?!?! Spot doesn't matter, DERIVATIVES Dictate!!!!!!!
INDEX:BTCUSD
by ROYAL_OAK_INC
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CME:BTCZ2024
by Pandorra
$BYC gap filled & more dataGood Morning/Afternoon Update The CRYPTOCAP:BTC GAP was FILLED yesterday. 38k is minor support, don't expect a stand there but bounce possible. Dotted lines are Fibonacci levels. #BTC 37k price target very close. #Bitcoin 32k is a stretch but anything is possible with a volatile asset. Bearish moving avg crossover is shown by the yellow Circle ------ Shown elsewhere, see profile for more info: A big X account speaks about positive divergence on 4hr chart. Futures shows nothing of the sort. Spot #BTC shows TINY divergence but NOT what should be used to trade or step in, IMO. Bounce? Maybe, we said CRYPTOCAP:BTC is at small support Don't see any signs of turnaround for #bitcoin yet. Sell volume is reducing, that's a +.
CME:BTC1!
by ROYAL_OAK_INC
🏃‍♀️🏃‍♂ LTC. The spring has compressed. XxX's are inevitableOne of the most anticipated online events in the digital currency ecosystem in H2'23 was the Litecoin (LTC) halving, that took place in early August, 2023. As the cryptocurrency market prepares for one of the network's major events, the Litecoin (LTC) halving, investors and analysts were peering into the crystal ball of market trends in an attempt to predict the outcome. However, based on the hype that has accompanied the halving event over the past few months, there is good reason to believe that the online event may produce a different result than expected. Historical backtest analysis says that every time the number of new addresses COINBASE:LTCUSD exceeded 350,000 over the past five years, a significant price correction followed. More than 690,000 LTC addresses have recently been created, suggesting that the upcoming halving could be a “news selling” event. On the other hand, the upcoming Litecoin halving, in theory, provides the opportunity for a significant price increase. This thesis stems from the deflationary effect that halving will cause, reducing the rate of creation of new Litecoins. Combined with the growing demand for the coin, this again, in theory, could create an ideal scenario for price growth in the medium to long term. The aftermath of the Litecoin halving should provide the cryptocurrency community with valuable information, especially as investors prepare for the subsequent Bitcoin halving BITSTAMP:BTCUSD , scheduled for April, 2024. Technical picture in Litecoin COINBASE:LTCUSD at the same time indicates a continuing deflationary price compression, with possible prospects for a further price decline within the boundaries of a downward channel to multi-year/ historical lows.
COINBASE:LTCUSD
by Pandorra
BTC futures dictate price, people still don't get itSince the price action reversal on CRYPTOCAP:BTC it has been struggling. (also sold CRYPTOCAP:ETH & CRYPTOCAP:LTC few days later) There is way too much positivity in this space for what's happening. #bitcoin is at the top portion of the gap, but may not hold and will likely fill & trade lower. We have been huge proponents of using futures data vs spot #BTC If you only use spot CRYPTOCAP:BTC you're at a disadvantage RSI looks similar but look @ $ flow Futures #BTC showed cracks in mid/late December #Bitcoin Fibonacci 50% from RECENT trend low = 37k 50% from 12/22 low = 32
INDEX:BTCUSD
by ROYAL_OAK_INC
1
$BTC holding while weakening, what? LOLGOOD MORNING Don't see an increase in CRYPTOCAP:BTC shorts. With #ETF news perhaps traders do not want to be short. Don't see a #BTC a breakdown, JUST weakening of the RSI during this current move. BUT #Bitcoin keeps bouncing off the trendline, yellow arrow. We also see bouncing off the 20 Exponential Moving Avg, cyan, & the red = TREND strength. As posted few days ago, the top part of the range keeps getting poked. The more poking the weaker resistance gets!
CME:BTC1!
by ROYAL_OAK_INC
Bitcoin Spike on DailyOne of my primary technical analysis trading tools is that of False Breakouts or as I identify them; Spikes . I have found that when prices moves quickly in one direction only to return in the opposite direction within the same or following candle this indicates a potential reversal with a high probability. The corollary to this concept is that if price does then break that "spike" bar the trend can be confirmed. The Spike I have been watching the price action of Bitcoin exceptionally close over the last few weeks as the 2023 bullish trend approached and has stubbornly held a major Resistance. On the first US market open trading day of 2024 Bitcoin made a push to break the recent consolidation. However, the following day Bitcoin price reacted with a nearly -10% drop. Such a daily move is not uncommon in Bitcoin but where and when it happened is significant. I operate under the logical thesis that if something is bullish... it should GO. There should be no such major rejections if the trend is strong. To have such a sudden rejection qualifies as a "Spike" and I created an indicator that identifies these for me to filter out the noise. That is exactly what happened at this point and place in Bitcoin price action. This spike bolsters my conviction that the 2023 bull trend of Bitcoin has reached its zenith. The Levels If this spike proves to be a bearish reversal then the supports I identify based on past price inflation and 50% Retracements are: 35,400 30,700 If price surpasses the high of this week significantly the next level of Resistance is the March 2022 high of 48,200: Expressing the Trade Contrary to popular memes there exists already Bitcoin based ETFs. Rather than deal with the theta decay aspect of options the symbol AMEX:BITI is the SHORT Bitcoin ETF. The price action is distorted but it also exhibited the Daily Spike price action. This instrument is the one I will use to express bearish trades on Bitcoin going forward. I talk about my Spikes as a trading concept often during my Weekly Livestreams here on Tradingview. You may also follow my last few years of Bitcoin price action analysis in the links below to see how we got here. Trade wisely!
INDEX:BTCUSDShort
by norok
6
Shocked @ $BTC and #crypto hit today?Good Morning!!!!!!! In reference to the rout #crypto is taking, everyone's playing Monday morning quarterback. The post quoted, pls see more info on our profile page, wasn't the 1st post with warning!!! We had mentioned the breakout had a lot of selling with little buying to support holding the move. CRYPTOCAP:BTC gave up a large chunk of the gains. We also spoke on #BTC $ flow lessening & the weakening RSI. The CRYPTOCAP:BTC RSI looks to cross sub 50, it must hold 40ish area. #BTC $ Flow hasn't looked good at all, buy on the rumor and sell news. Could be what's happening. #Bitcoin forming a BEARISH ENGULFING. Recall NASDAQ:NDX did this and was walloped for a bit before recuperating. KEEP and EYE ON VOLUME TODAY! Weekly, Bitcoin has formed an outside week, more on this later. AMEX:BITO
CME:BTC1!
by ROYAL_OAK_INC
BTC held the 44kish call for 2023, 48-50k next before pauseGood Evening/Morning! The call for CRYPTOCAP:BTC topping around the 44k range for 2023 was GOOD! 1st trading day and #bitcoin rips higher! How's that for coincidence, huh? The call for #BTC being in a temp pause & in a CONTINUATION pattern was GOOD! IMO, the next level that #Bitcoin is most likely to test is the 48k with a good possibility of hitting low 50k area. Let's continue....... The RSI is still trending lower and $ Flow is not that great either. Things can change though... Why 48-50k? Arrows show the areas of resistance. Even after breaking above this staunch resistance area, 50kish, Bitcoin didn't trade very long above it. More on what we think later.... Still time... For more info visit our profile page...
CME:BTC1!
by ROYAL_OAK_INC
Bitcoin - Take Advantage of the Exit Pump, While You Still CanThe pattern on Bitcoin is really similar to Ethereum, which I outline in a recent call: Ethereum - A Sucker's Rally Before The Bitter Winter The difference between Bitcoin and Ethereum is ETH has more than 50% upside available to hit its similarly-placed goalposts, while BTC is just another ~30%. Fundamentally, the problem for crypto bulls is that the 2021 bull run formed a Bump and Run Reversal (BARR) on CME Futures. The inner meaning of a BARR is that its the eternal top, and once the lows are taken, the trend is over. This is especially crucial to understand when a BARR manifests on regulated futures, because these futures are uniquely cash settled and do not require anyone to post spot as collateral to short, there are ETFs linked to CME price, miners are hedging their on-chain wallets with this product, and the day-to-day survival of crypto relies on the SEC/FBI/DOJ delaying the annihilation of iFinex/Bitfinex/Tether. Once the trend is over, getting a rip to sell into is really a blessing, because what comes after is some gapping and then the landslide doom pattern that delisted coins and garbage penny stocks follow for a long time afterwards. We're at the prelude to crypto entering the no-bounce territory, because they need to be eliminated for Central Bank Digital Currencies (CBDC). Governments need to issue their own coins on centralized blockchains in order to install worldwide the Chinese Communist Party's Zero-COVID social credit system, because they just love the CCP's things so much it amounts to a fetish. And the problem for humanity is that these digital currencies do very little that is positive, while consuming an unbelievable amount of physical technical resources to make the chips and even more resources to produce the power that's needed to win the mining lottery. SHA256 mining is a total joke because more miners being added to the network don't increase transactional throughput at all, or really even "security." It's just a life-or-death requirement for miners to keep up with the difficulty boosts to win the block reward lottery to keep putting these things online. And in China, where everything is corrupt because of Xi Jinping's CCP, flooding villages and cities to manipulate the supply of hydro to sell to mining outlets has been a common practice of the regime's officials for years. Even the Mekong has been impacted gravely by the rogue CCP's gluttony for electricity to fuel the crypto mining operations run and cut by the regime's cronies. Much of digital currency has been co-opted by the CCP via its United Front Work Department operations, and much is done through the Triad mafia itself. Just about everything in crypto and everyone who's anyone in crypto operate on Wechat, the CCP's erstwhile implementation of surveillance and social credit. This is important because the 24-year persecution and organ harvesting genocide against Falun Dafa's 100 million practitioners looms like The Reaper over Xi and the Party. Disaster and plague can take the regime down literally any day. At the same time, Xi can save himself by overthrowing the Party in a coup, Gorbachev style, literally any day. So the risks are huge. But right now, if you want to play this table at the international casino, then the trade is long, not short, with a target over the May of '22 pivots at $48,000 and an expectation that $50,000 will either not be touched, or will be wicked through to sweep stops that both close shorts and open longs. You have a clear breakout on Monthly and Weekly bars, with no retrace on lower bars, and this is why short = dead, until price reaches its upside target. Frankly, a brief interlude back to $34,000 would be quite the gift to go long on and mitigate underwater shorts with. You cannot short $48,000 unless a reversal pattern appears, because the trend is strong for the first time in more than a year. Digital currencies are something for you to have absolutely no faith in. You need to stay away from everything related to this. A huge amount of killing, human trafficking, and corruption operates via that community and its various blockchains, and the sins are both boundless and eternal. The sins are so huge that mankind's justice system, even in the future, will not be able to settle the blocks that update the real ledger in this Cosmos.
Long
by LordWrymouth
1
Ethereum - A Sucker's Rally Before The Bitter WinterWhoever is shorting crypto right now probably has a death wish. And this isn't because there's going to be some new paradigm replacement of the USD or because institutions finally see the value of digital currency BECAUSE BLACKROCK ETF. It's because Bitcoin, Ethereum, and all the other chains are going to zero, because they're in the way of the advent of Central Bank Digital Currencies, which are needed to underpin the worldwide roll out of the Chinese Communist Party's social credit system. You shouldn't have faith in digital currency. There's nothing decentralized about them. It's not a free market. They're not saving you from anything. The people who like them like them because they're getting Monero payments on the sly for being part of Palestine (Hamas)/Antifa/BLM events, which they can use to buy all sorts of horrific stuff on the Dark Web. These "assets" are heavily concentrated in the hands of players either squatting in Shanghai (Babylon) with the CCP, or with entities who have stained their hands earning "the Mark" for "the Plan." The problem for the CCP and Xi Jinping is that the 24-year persecution and organ harvesting genocide against Falun Dafa's 100 million practitioners looms over their head like a guillotine about to drop. And so everything related to these digital currency things and people are things you want to practice social distancing from, wash your hands of, and inoculate yourself against by formally filing a statement of withdrawal on the Tuidang website. Whoever doesn't have the guts, can't see it, or doesn't want to is gone with the wind. So, here's the trade. The Eth rally is obviously real, and it's obviously an exit pump at the same time. This means the target is painfully higher. Not to raid a monthly bar and then turn around and dump. This means that shorts are trapped, more shorts are trapped. A problem is that market psychology is not what you think it is. People love to buy when stuff is expensive and they love to sell when stuff is cheap. Because emotion is what drives everything, and it's why every U.S. election is lynch pinned around the words "fear" and "hate." Price going up means a lot of big on-chain wallets get sold off at very high prices. Not only because shorts are force liquidated/force covered, but because people come piling in to buy with the number $5,000 in their eyes. Eth monthly shows us that the dump was too deep and took too long to rally to be some sort of a prelude to a new high. But because this rally shows no signs of retracing anywhere on futures or BTC, we can only assume that the target is the most obvious and painful target, which is the $3,600 pivot level set in 2022. The problem for proponents of $4,000 is that despite these rallies and this supposedly bullish news about ETFs, there's no contango in futures at the moment. And so this means that the CME Futures pattern will constrain the exchange spot prices, which we see in the charts This means $3,600-$3,800 is the likely top. And what's going to kill the rally? It's really simple. A raid by the FBI/DOJ/SEC on Tether/iFinex/Bitfinex will do it and end it all forever. What happened with online poker in the late 2000s when this happened to Full Tilt and Pokerstars? One day everyone woke up to find their websites, where all their money was held, had been shut down with a takedown notice. Everyone lost their money and it took many years for it to be paid back by the companies that bought FTP/Stars, the industry never recovered, and now you never even so much as hear about poker. And that's what is going to happen to crypto. In the future, it will be gone. And so will the 9th Communist International's CBDCs.
BINANCE:ETHUSD.PLong
by LordWrymouth
17
ETF's in the cryptocurrency sector vs Bitcoin📉This graph shows the average price of the main ETF's in the cryptocurrency sector, and their correlation with Bitcoin. 🟢These are the ETF's aggregated here: PROSHARES BITCOIN STRATEGY ETF GRAYSCALE BITCOIN TRUST (BTC) GRAYSCALE ETHEREUM TRUST (ETH) AMPLIFY TRANSFORMATIONAL DATA SHARING ETF (BLOK) BITWISE 10 CRYPTO INDEX FUND (BITW) GLOBAL X BLOCKCHAIN ETF (BKCH) GRAYSCALE LITECOIN TRUST (LTCN) VANECK UCITS ETFS PLC CRYPTO AND BLOCKCHAIN INNOVATORS UCITS (DAPP) BITWISE CRYPTO INDUSTRY INNOVATORS ETF (BITQ) GRAYSCALE DIGITAL LARGE CAP FUND LLC (GDLC) I would love to, but I don't think the price is going to go straight up to the moon🚀👎❌. The banks will make it as difficult as possible (can you imagine if everyone got rich quick and easy without having to be a slave?), and they will manipulate the market to enter at the lowest possible price. Funny, that they insisted and spread FUD one after another, that Binance should prove that it owns the customers' balance. They tried to knock her down with this narrative, but they couldn't. But what about banks, do they do that? Could it be that if everyone shows up at bank doors asking to withdraw their paper money, won't the army show up with a bunch of war tanks to protect half a dozen tycoons? I'm looking forward to the next narrative.
AMEX:BITOShort
by andre_007
5