Weekly $BTC looking BULLISH, more light to GOLD pre 2024Let's add a bit more to the previous CRYPTOCAP:BTC post we made.
#BTC closes Friday anywhere around here, it's MEGA BULLISH!
Officially breaking the downtrend on weekly
Volume not great but enough to keep moving, 1 more day left!
RSI is looking good. Money Flow also looks good, never dissipated.
Our #Bitcoin November call coming into fruition,
Again, look @ #GOLD calls pre 2024!
BITX
Bitcoin is almost there!CRYPTOCAP:BTC is at a VERY IMPORTANT level. This area has been an issue for the last few YEARS.
One thing to notice is that #BTC volume is WEAK, look at yellow box. Do you notice that volume is UNDER the white line? That line is an average. This means that the recent volume is below average for 90 days = LIGHT. This could be because sell volume has been light. Now we need to consider, what will cause BUY VOLUME to come in & propel higher?
#Bitcoin is almost there, good signs showing. Incoming volume to break out would be a huge plus!!!
ETF's are great, we like AMEX:BITX for leveraged exposure and trading, but keep in mind; NOT IN YOUR WALLET, NOT YOURS!
Took some $BITX off the table, $BTC leveraged ETF.Why did we take "take" some AMEX:BITX off the table???
For years this area has been tough, CRYPTOCAP:BTC , as seen on chart.
Also, it's at the top part of downtrend.
If #BTC sees some weakness & the STOCK doesn't get called away we keep the premium & life goes on.
If it does, it's okay, we made an extra $1 compared to selling outright.
#Bitcoin
Pls see our profile for more info, many more posts.
BTC Monthly looks almost primed and ready#BTC was/is in a mild correction or consolidation phase.
The RSI stayed above 50 which is VERY GOOD.
Money flow remained in the overall scheme of things and still looks good.
IMO this looks similar to #BTC during the 2018-20 setup phase.
(Opened the chart to a weekly for a better view)
But don't think we get a harsh dip like in mid 2020.
#Bitcoin #crypto
Pls see profile for more info on posts
$BTC finally looking good at upper range of downtrendCRYPTOCAP:BTC is currently trading above the highs of last bull run.
#BTC was here yesterday but it gave it back and rolled under.
A lot of resistance in this area. How will it do today at close?
Still in a downtrend but this is the best #bitcoin has looked when testing the upper part of the channel.
Weekly it is looking great. ALMOST THERE!!! A little bit more!
#crypto
(Try and post here as much as possible but pls see our profile for more info)
$BTC doing exactly what we said...Was away and have not posted here in some time. Was away and had a few things neded to take care of. Please see profile for more info on that.
Will consolidate everything we have said on #Bitcoin over last few days.
CRYPTOCAP:BTC was worth a shot early this week or late last week. We bought overnight Sun - Mon.
Mid 60's is likely around the corner.
Don't see #BTC in the high 60's but 67k is definitely possible.
Buy volume is still WEAK. Not crazy about that BUT at least it has been more buys, sellers might be done for now.
BTC First Leveraged Bitcoin Futures ETF Launched Today !The introduction of the first leveraged Bitcoin futures ETF, the Volatility Shares Trust - 2x Bitcoin Strategy ETF (BITX), marks an intriguing development in the cryptocurrency market!
The idea of institutions employing this ETF as a strategic move to capitalize on their bearish view of Bitcoin is plausible. This ETF presents a new opportunity for institutions to potentially profit from shorting Bitcoin legally with 2X leverage.
By utilizing leverage, institutions can enhance their potential returns if Bitcoin's price were to decline. However, it is important to acknowledge that investing with leverage also carries higher risks, as losses can be amplified.
The notion of Bitcoin going higher before a potential downward move, highlights a possible trapping mechanism for bullish investors. If Bitcoin experiences a temporary price increase, it could entice optimistic investors to buy or hold their positions, only to face unexpected reversals in the future.
Looking forward to read your opinion about it!
Bitcoin ETF marks the topIn my previous post I mentioned the approval of the first Bitcoin ETF, it was launched today Tuesday the 27th.
I believe this marks the top, I have been short since the tip top of the 25th of June.
See my previous posts to better understand my thought process and reasoning.
Good luck.