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btc 6-15 update.man oh man. happy strawberry super full moon 🥂 let's talk about all this stuff. 🍓 You see this volume!? indicative of some serious buying pressure; we're nearing a significant bottom. 🍓 Open interest is still fairly high. I need it to come down a bit more before I can confidently say we've found a bottom. leveraged longs are opening positions into todays move up; fomoers will get stopped, shaken out, or liquidated. Some nice long liquidations over these last few days - helps the bull case. 🍓 Short interest is very high, a short squeeze is due - but the question is when? I personally wouldn't try timing a short squeeze, rather just get into a high probability trade setup and let nature take its course. 🍓 i am looking for 18k, but there's a chance we don't get it. if we do get it though, i'll be all over it. 🍓 still rolling with the og double zig-zag for now, but my bias is subject to change if the new data shows me something different. 🍓 ps. it's possible that a bottom is in. will be monitoring the waves over the next few days to get a more conclusive read.
Long
by Eloquent
6
"the og double combo"bitcorn has broken beneath a level many of us have been watching, i low key saw this coming. --- in one of my videos recently i discussed the following: if a majority of the people wanted 23k, we would either not reach it, or over shoot it. so we're in the process of overshooting it. --- looks like we could come down a tad bit more, one more hit to the lows after this bounce completes. --- i've changed my count up a bit to adapt to the changes i'm currently seeing over the last 24 hours. what i have on my chart is called a double combo, aka - the og wxy.
Long
by Eloquent
8
btc 6-13 update pt.2in my last post, i shared two potential trajectories. btc ended up breaking the trendline \ hit my 22.9k target- but it came down in 3 waves, which makes me a bit suspicious. it still technically could be an expanded flat, but that would be a really long B wave, so i don't like it. much more probable for us to be working on the final fifth wave of wave C. --- watch for a bounce (w4), followed by a little capitulation to 19k (w5) this zone will mark a bottom (theoretically). (a wick could go below 19k, but so long as it gets bought back up, we will be in better shape.)
COINBASE:BTCUSD
by Eloquent
2
$BTC $32k-37k needs to hold, otherwise $23k-29k is coming.I exited all of my crypto positions last night after we lost support at $39.3k. We really needed a bounce there for the structure to hold up and bounce higher. Now we've just printed new lower lows. The reason for exiting here is because now I think there's more risk than reward, so I'd rather sit and watch things play out than have my money sitting in the market if what I'm about to say is a possibility of an outcome. After zooming out and looking at the chart again, it looks like we've just tested resistance twice at $45k and each time it formed another lower low on higher timeframes (you can see this by looking at the chikou which I've drawn a circle around on the chart). In the short term (next few days to a week), I could see us either trying to retest and break $43k or testing $45k one more time, but if we reject those regions, then the likelihood increases that we're going to see new lows. The other scenario is that we just roll over, but I lean towards a move up first to convince people we're going higher. Why do I think we're going to see the $20k region rather than just retesting the low $30ks? Well, if we break $37k which I think is likely because it's already been tested multiple times, then the next area of support is $32k. We've already broken through that $32k region back in May-July and just retested it as support in January, so that support is already weakened. The $29k support has already been tested 3 times from May to July, so that support has weakened as well. So the most likely scenario to me at this point is that we break through all of those supports and retest the $23k level which hasn't been tested since we've gone up. Of course, it's not a guarantee. I've listed out numerous things that will need to happen between now and May for this to play out -- we'd need to reject $43k-45k, then lose the $37k support. But if those two things happen, it increases the chances of this idea playing out. Then we'll need to lose the subsequent levels on the chart. $23k is where I'd want to buy a buyer of BTC. Bad news aside, I think that region will be a great spot to buy BTC as we should see a massive bounce after that. Let's see what happens over the coming weeks.
INDEX:BTCUSDShort
by benjihyam
3
btc 6-13 update ~good evening o/ i'd like to keep this post very simple and straight to the point. --- my little expanded flat idea could still be at play, but the trendline which we touched earlier this evening cannot be breached. if it is breached, we will see capitulation down to 22.9k (potentially lower). --- if the little trendline is respected, -we can see a short squeeze back up to 34k before seeing the final decline to around 20k by finishing the og diagonal. -most people are either short, bag holding, or expecting 20k, -so this little move up would really shake things up in the market for the majority. --- trade safe, and have an awesome week 😎
by Eloquent
1
the last stand.this is the last stand for the bulls. the total crypto market cap is approaching one of the biggest levels we've seen in months, the moment it taps this level, a major reaction to the upside is expected. if there is no reaction, then this will be really bad news in the land of crypto, and we will see the ship sink deep. how deep? deeper . -- if we raid the lows for liquidity, it would stop out just about everyone who got into the market down here in this range. we then could then go ahead and stop out all the shorts, before a real capitulation event comes through. i'm hedged both ways, and i'm ready for either outcome, but i will say this - i am very bullish in the weeks ahead. i think we see a significant short squeeze.
Long
by Eloquent
3
Is the Market is a Ponzi? The Printing of Money and Growth8-minute video where I gloss over the big picture stuff relating to the Markets and as they relate to the M2 (WM2NS) Money Stock. This is a High Time Frame analysis of the Market charts like the Dow and SP500 vs the Printing of Money and the increase in Money Supply. Basically, the entire market exists as a function of printing money, organic growth hasn't been around for decades and our current highs are almost entirely because of the increase in Money Supply. The scariest one is the Covid dump and how even though the global economies were in many ways shut down, the market experienced a massive Bull Market. The fact is, that in relation to the Money Supply the Dow, SP500, Bitcoin, everything is pumped by printing money
SP:SPX
by TrendmasterOfficial
1
total crypto market cap.total crypto market cap just tagged the 100% extension for this massive zig-zag. is that all the blood we're going to see in the short term? possibly. if 100% extension successfully holds, we will see a mean retracement of this move, before further downside. --- if it happens to get below it \ flip it into resistance, we could potentially enter into capitulation territory; where the titanic would simply sink, and it would take everyone with it who didn't bring a life jacket. --- stop loss is your lifejacket in this market, be careful out there my peoples.
CRYPTOCAP:TOTAL
by Eloquent
btc 6-6 update.good evening humans, a lot of fear in the markets right now, more than i've seen in a very long time. i'm kinda grateful for all those of you who are terrified, because it is thanks to You that this next move will be made possible. --- a shirt squeeze. -- we're 15 days into a daily squeeze on bitcoin, one of the longest ones i've seen in awhile. once bitcoin exits out of this squeeze, a significant move will take place as i have talked about in my recent posts. it can certainly be to the downside, and i'm well hedged for it. my short hedge is currently up close to 600% and i've started building a long position just in case the short term bull case turns into a reality. i'm going to be eyeing the area between 35~38k for this move up. ps. this is in no shape or form financial advice, i whole-heartedly do believe btc can drop to 20k in the weeks ahead, but there's a slim possibility that we see 1 more pop before it does. don't follow my footsteps, follow your own, make your own plan, and do what you feel is best.
Long
by Eloquent
2
btc 6-7 update ~good afternoon, after a savage dip yesterday, bitcorn has put in a savage rip seems market maker is just shaking the tree, liquidating both sides before the big move comes. the big move can be in either direction, there's really no way of knowing exactly in which direction it'll go - so be prepared for either 20k or 40k lol. the daily wick looks extremely bullish, but i think it may have 1 more dip in store for us before we see the real rip. a raid of the lows from yesterday in a similar styled fashion to what we saw yesterday would be ideal-> followed by a total short squeeze to 33~35k (potentially much higher). --- now it's also possible it just keeps going from here, to 33 ~ 35k without giving us this dip. trade safe 😎
by Eloquent
9
btc 6-6 update ~good evening folks, btc ended up rejecting the target from my last nights post, but - it's not convincing enough for me. i shorted the top of it, and i'm looking for a long. --- i think it pivots earlier than i had expected, and makes a run to 35k. (watch for bullish divergence on the smaller time-frames, and look for confirmation) it can theoretically expand quite low to flush out all the late longs, so exercise caution if you're going to play this move. (resistance and support levels displayed on the chart) btc is a wild one, and you gotta be ready for anything that it may throw your way. --- risk management is the #1 priority in this game, everything else comes second.
by Eloquent
11
btc 6-3 update ~the dip we saw today was highly controlled, came back down perfectly into the local golden zone. - •strong bullish divergence persists on the higher time-frames. •we're in a squeeze for 9 straight days now. •daily rsi is backtesting the moving average from above (bullish). •people are real scared right now, •lot of bears, •most are short, or in cash. ---- give me 1 reason why btc won't see a strong move up in the days ahead? ---- if we're playing out a simple zig-zag in this local region, the target on that sits at 33.6k if it decides to play out a 5 wave impulse, wave 3 target sits at 37.2k (40k for w5). i'm pretty bullish on crypto as a whole right now, and i'm expecting some kind of move up, which will be quite sporadic, and potentially short lived. ---- ps. if the squeeze happens to trigger to the downside, a very powerful move will take us down to 23k; stoploss is important over here.
by Eloquent
1
BLX BTC Liquid Index may even retest W3 top@20k if 25500 is lostBLX Bravenewcoin liquid index may for the first time retest a previous top if 25500 the 0.618 FIB EXT from the ABC top is lost. There is absolutely no support (BLANK SPACE) going down to 20000 (the 0.786 level) except perhaps the weekly WMA200 line at around 22000. The blue neckline from the 2020 pandemic Inverse H&S will intersect 20k & 22k & thus this line may offer also some support as a retest before rally. PLEASE NOTE that I may be wrong about this being a wave V. This expanded flat correction could just be a wave IV ABC correction. Wave V could still bring BTC to new ATH before an even bigger crash if recession plays out in 2023 or 2024. Not trading advice
BNC:BLX
by xtremerider8
btc 6-2 update pt.2i just wanted to say, i'm long, but i'm entertaining other ideas as well. always nice to keep an open mind in the market, as there is always opportunity just around the corner if you're ready for it. usually i have some kinda long exposure, and i attempt little shorts along the way (with extremely tight stops, like $49~$101 in btc's price) once a successful short is found, i ride it down until the next long opportunity is found in a similar manner. sometimes the short is a hedge, other times i'll flip short entirely - depends on the situation for the most part. --- i don't share the trades i take on here, as they are for our private members only; but i do share my thoughts with you all =]. my strategy is quite unique, and difficult to put into words, but do ask me about it if you're interested in learning more; as i'm always happy to share. --- --- --- this rally doesn't look convincing to me in the slightest - it seems to be trappy by nature. there are large order blocks over-head, and it seems like it wants to go lower in my opinion. i will remain long for the time being, and cautiously optimistic - whilst continuing to look for some shorties. watch the local golden zone overhead for a potential rejection, and pull a fib extension on that. it should gravitate to the 100% extension after; a deeper expansion is always possible as well. entertaining something along these lines, but i can't put a timeframe on it. --- have an awesome day, and expect the unexpected. ⭐ ps. i've been getting a ton of random hate in the comments from randoms, so going forward i will no longer be reading any of the comments. if you'd like to talk to me, feel free to pm me 🤝
by Eloquent
4
btc 6-2 update ~hi o/ this is just a little bearish idea, it's not my primary - but thought i'd throw it out there. my primary idea was posted yesterday, check it out here: --- -whole market is moving up, while bitcorn hangs out in the middle of nowhere, ominously. -there is still a new moon in the sky, which puts pressure on btc. -13 more days of pressure, before the bullish door can be opened. got a feeling btc's just going to hang around this range till then, might raid some more lows, catch some more stops \ continue with the accumulation phase. --- ps. there is a bull case to be made with this structure as well,
by Eloquent
4
this market is pretty intense.this market is pretty intense, so it is important to be strategic. this is not a "buy and hold" kinda enviroment, it's a, buy the dips, and sell the rips kinda environment (for now). the average man - will buy the top out of excitement, and sell the bottom out of fear, a wolf will buy buy the fear, and sell when the average man gets excited. ---- i made this little spx500 post last week, check it out if you missed it: i'm expecting a similar situation to play out on bitcoin. 38,39,40kish ; maybe an overthrow of that region, followed by the final dip down to 22.9\23k later this summer. ---- ps. this is just a theory, don't follow me blindly just because the picture looks pretty. do your own dd + research, and follow Your plan. ✌
Long
by Eloquent
5