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shirt squeeze?i get this feeling that it's possible we could see a significant short squeeze going into the end of this month. we have the full moon in 3 days, and the market has been very strong going into it. cpi data on wednesday could be the catalyst for this squeeze. --- btc is currently poking a major level (labeled as a black box on my chart) if it could successfully push through it, it'll open a door to this shirt squeeze. --- there are three major targets overhead: -25,858 -29,121 -32,796 one of these levels will be the cause of a massive rejection which will send bitcorn tumbling back down into the crypto abyss. --- ps. i'm not saying that a short squeeze will happen, but i am saying that it's possible that it does happen, and you should be prepared for it just in case (if you're a bear).
by Eloquent
2
btc 8-7 update ~good afternoon, hope everyone's enjoying this beautiful weekend 💸 --- been a few days since my last update, but my overall bias hasn't changed. the structure most certainly did change though. --- there's a full moon on august 11th, markets likely dump into it, and rip out of it. --- looking for a 21k bottom on 8\11, followed by one more big move up into the end of this month which will mark a significant top in the markets. what comes after which surprise the hoi polloi. ✌
by Eloquent
3
btc 8-1 update ~good evening~ --- btc is starting to play out a scenario which i had shared last week - no real confirmation yet, but it's looking pretty good thus far. --- i'm expecting a stop-loss raid of all the long stops from the july 26th low, followed by the liquidation of all the range shorts before btc drops for reals. >stop the bulls >stop the bears >cliff dive. --- local bottom to be made on august 11~12th, then up to 26k into the end of this month. big drop into september. downside target at 13\14k by the end of this year. --- ps. just a theory.
by Eloquent
2
"the rekkoning"good afternoon ~ ---- the last month or so has been a chop filled mess. the bulls are saying the bottom is in, the bears keep getting liquidated, while i watch patiently from a distance. ---- take note of this daily rsi: once the daily rsi surpasses the level of which it was at back in march, we will confirm a significant hidden bearish divergence. if you don't know what a hidden bearish divergence is, let me tell you. h.d is a bearish continuation pattern - which means the lows will get taken out. ---- the move up has been extremely suspect to me, and i've entertained it from a hundred different angles, but nothing comes close to feeling more right than this current projection right here. ✌
by Eloquent
1
Elliot & Bitcoin Road TripThis chart is for fun and it is a representation of what I am expecting for the next two years. I believe Bitcoin could be in a giant Bull flag formation with a target of 150k to 160k within 2 years. Always invest responsible and with a plan. If you need help you can leave a message or just leave me your thoughts on the idea. This is not financial advice. The Market is tool to take money from impatient hands and put it into the patient hands. - Warren Buffet
COINBASE:BTCUSDLong
by WeAreSat0shi
2
total crypto market cap.Bitcoin longs are at all time highs, but the market continues to plunge. This could only mean one thing, they're continuing to average down. ---- There's an old saying that goes a little like: "The market can stay irrational, longer than you can stay solvent". >Once the longs run out of $, >Liquidations will kick in; >Once liquidations start spiraling, >The price will accelerate very quickly to the downside. ---- Be very cautious in the land of crypto, and understand what it is that you're getting yourself into. 💰
CRYPTOCAP:TOTAL
by Eloquent
4
Bitcoin Price Prediction: Bottoms In... During the last cycles bitcoin has never fallen below the weekly 200 moving average. During the covid sell-off price wicked below the moving average for 2 weeks, but this was merely a deviation from the trend. Right now bitcoin has stayed below the average for 6 weeks. But in my opinion this is just another deviation from the trend to fake out traders. At the moment so many people are bearish, and that usually is the point where the market turns around. The majority is never right. Buy the fear, sell the greed! And the answer might be in the RSI, every time bitcoin has turned around when rsi was around 30. This time rsi went as low as 25.71, lower than it has ever gone. But as you can see the RSI has started a small up trend. Which makes me believe the bottom is in. Can we go even lower with rsi and price it self. Yes that is a possibility. But for now as long as the rsi starts making higher highs and higher lows, price usually follows. For now I am of the opinion that the bottom is in for the cycle and we will start and up trend from here.
BNC:BLXLong
by YoMMeR
13k?bitcorn is accelerating rather quickly into the new moon which shall appear within 3 days. each new moon, bitcorn dives deeper into the abyss. each time, the bulls will say it's different, and each and every time it leads to the same exact result. --- in my last post, i entertained the bullish path which bitty could potentially take, but it's moving faster than i'd like it to. it's a lot more probable we take out the lows into the middle of august, potentially wick 13\14k before moving up for real. that might seem like a pretty significant drop for some, but it's just another day in crypto land. --- neither the bull nor the bear case is confirmed for now; it's currently a waiting game. i'm 99% cash since before we even topped out, taking little trades along the way, but nothing too significant until the middle of august comes around. --- trade safe o/
by Eloquent
1
3Ok?i got to thinking this evening, a lot of people are really bearish, myself included. so why would the market randomly go down to feed all of these bears? much more probable for it to go higher, to give people the idea that we have found a bottom, then crash down to crush everyone's dreams lol. --- this is not my primary projection, but this is gaining a lot of probability as the days go by. --- if this does play out, i'll be looking for a back-test of 20k into august 12th, followed by a rally into September to roughly 30k. i do believe we'll make a new low afterwards, but it can take a few months before we see it happen.
by Eloquent
3
btc 7-24 update ~ good afternooon, ---- (green path) as of this moment, btc has put in 3 waves down. so long as it doesn't take out the recent low of 21937.0 we can expect for a bullish continuation to around 25~26k. ---- (red path) if price goes below 21937.0 on this next leg, market will invalidate the move up to my original target, and it will confirm the idea that the top has already been put in. ---- waiting for confirmation before my next move. ---- 𝑝𝑠. 𝑖'𝑚 𝑠𝑡𝑖𝑙𝑙 𝑒𝑥𝑝𝑒𝑐𝑡𝑖𝑛𝑔 𝑎 𝑏𝑒𝑎𝑟𝑖𝑠𝘩 𝑝𝑖𝑣𝑜𝑡 𝑜𝑛 𝑗𝑢𝑙𝑦 𝟸𝟾𝑡𝘩.
by Eloquent
1
BTC vs. DXY - Opposing Peaks & Troughs Leads to new Low vs. HighFirst, let me preface this with the fact that I'm typically bullish on Bitcoin, but with all of the recent rhetoric surrounding recession (and just as a general rule of thumb) we do have to consider alternative views. This is me taking a different look at Bitcoin through that lens: So - When Bitcoin began its epic rise in 2016-17, around 2017 we saw DXY top out around 103 and begin to fall as Bitcoin approached a new ATH around mid-December of 2018. Almost exactly one month later, DXY bottomed out at around 88-89 and since then began forming a parallel channel between it's low and high. As we approached DXY's next visit at the top of its channel in mid-March of 2020, we also experienced the so-called "Covid Crash" across markets, with Bitcoin finding its bottom at what appears to be a rising wedge on the 3d log chart, as shown above. Following 2020's crash, Bitcoin began another epic run, and DXY reached troughs near channel bottom (each with higher lows), both within ~3 months of Bitcoin reaching its new ATH and completing the top of the rising wedge formation shown above, with its 2nd high falling slightly below wedge top, similar to DXY failing to find a low at channel bottom. This brings us to today: DXY: - Now DXY has broken above its parallel channel, and if you zoom out to view much higher time-frames, it has also broken out of a falling wedge, and appears to want to make a run. 1x, 1.5x and 2.5x channel break targets shown on the 3d chart above. NOTE - We have not yet re-tested the top of the channel however, while Bitcoin is re-testing the bottom of its wedge. Things could still turn in the opposite direction and we could form a new Peak and Trough here instead. For the long-term HTF 3m chart, it is shown below: BTC: - Meanwhile, Bitcoin has broken below its rising wedge, and appears to want to revisit lows it hasn't seen in years. 1x, 1.5x, and 2.5x rising wedge break targets shown on the 3d chart above. NOTE - Presently, we are re-testing the bottom of that wedge after having broken below it, while DXY hasn't yet re-tested channel top. Again, things could turn around in the opposite direction and we could form our new Peak and Trough in the area where we are now instead. These two things correlate and have shown correlation historically, as you can see on the chart. Should we actually enter a severe recession as many seem to think we're headed for, this is what I think might occur, and the chart provides us evidence that it is possible.
BNC:BLXShort
by dudebruhwhoa
btc 7-21 update (bull-ish projection)in my last post i discussed my bear case, this right here is the "bull-ish" case. bull-ish, because the upward move will be straight chop. alts will perform very well in this environment though, so that's a bonus 💰 --- for this particular scenario to play out, after rejecting 25~26k within the next 7 days, bitcoin will have to see a controlled move down into august which comes down in 3 waves. it cannot go deeper than 50% of the recent move up from 17k. >if structure is held until the middle of next month, we can anticipate higher prices into the months ahead into the mid 30k range. >if price gets rejected in the projected zone, we can look for a decline to about 6k - where a long term bottom will be created. >halving in 2024 will initiate the next bullish cycle, and bitcorn will go into the hundreds of thousands. --- both of these scenarios are possible, and we won't know which one is at play until price action confirms it. patience is 🔑. --- ps. i continue hanging out in cash for the time being until more confirmation is given.
by Eloquent
5
btc 7-21 update (bearish projection)good evening, thought i'd go ahead and share my two primary cases, to catch everyone up with my thoughts. --- this right here is my primary projection for bitcoin. it implies that a local top will be created within the next 7 days, followed by a sharp move down into august \ september. >downside target on this particular projection is between 13~14k. >once this downside target is in, i think bitcoin can see a significant squeeze up into the 40k region, (maybe even higher) >followed by one more bear phase, which bottoms out between 10~6k in late 2023. >halving in 2024 will send bitcoin into the hundreds of thousands; i'm very bullish long term. quite neutral until a bottom is in just swinging all these bear moves in the mid-term. --- (view next post for the bullish projection)
by Eloquent
2