btc 11-23 updategood morning ~
I have a feeling btc isn't quite done correcting yet.
The overnight spike in shorts, and the multiple touches of our local support, I'm not sure that it can hold much longer.
We'll either have to start moving up right now, or we see another leg down.
potential targets =
100% extension = 54,155
123.60% extension = 52,853
trade safe!
BLX
btc 11\22 updatemorning,
looking at btc miners, and the current wave setup + taking into account the cme futures max pain on december 31st which sits at 46k, i'm going to conclude my theory of this expanded flat scenario into the primary wave 4 going down to the low 30k's into jan \ february to fill the cme gap before we see any new highs on btc.
i'm bearish until we get there, and will short every single pop.
100% bullish after we complete this expanded flat.
i could very well be wrong about this, but i have to stick to my intuition on this one.
ps. i made a video going over this scenario last week on my youtube channel, feel free to check it out if this theory catches your interest.
🥂
Will History repeat?When will the top come, 2021 or 2022?
This is a copy of the previous chart called "Is the Bitcoin top in?" I have added the HTF LOG CURVES OSCILLATOR to it as another confirmation of top is still yet to be found. I do think we are in for a ride the next couple months.
Give me your thoughts bellow!!
Is the Bitcoin top in?
So here we have what is essentially a naked chart of the BLX on the weekly with only the BEAM BANDS & STEVES HEATWORM for indicators. I'm not sure if the Bitcoin will hit the top of the beam bands but I don't think the top is in. I will add the longer the bull run lasts, the better the chance for the top of the beam bands to be hit. If you notice a sell signal has yet to be printed, but where will it print?
What do you think is a likely scenario? Please comment below.
BTC/USD (58K Potential Support?)💎Technical Analysis Summary💎
BTC/USD
-Bitcoin failed to hold the immediate support area at 63k dollars
-After a sharp drop down to 58k dollar, the next potential support range
-This fast move by Bitcoin suffered most of Altcoins and I got stopped of my trade
-The market is not good recently so I didn't put heavy on this position
-BTC is technically bearish in the short-term with this type of price action
-I will be careful and only trade a small amount during this type of condition
-Again, this is not the good time to go heavy on Alts when there is no sign of strength
-I'd better not trade or reduce my position size if the market is not in our favor
-Everyone, risk management, and strict self-discipline is very important right now
-If you want to stay in this game for the long term, please control emotion and follow your stop loss
-Good luck and stay safe!
⚠️Please always read the description⚠️
Thanks for donating 💰 via Tradingview coins ozzyman2 🙏🎉
``````````````````````````````````````````````
If you need help🙋 don't hesitate to
Send me a message here PolarHusk 😊
``````````````````````````````````````````````
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Exercise Proper Risk Management 💱
``````````````````````````````````````````````
Bitcoin BLX - 400 000 USD (April 2022) + Monthly Channel!- A lot of people think that the end of the cycle will be in December 2021.
- In my opinion, its not true.
- As per my parallel channel on the monthly scale, we can hit 400 000 USD (in April or later 2022).
- For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio (RRR) - please check my signature below ↓
- If you want to see more of these ideas, hit "Like" & "Follow"!
BTC/USD ($63k Acted Support?)💎Technical Analysis Summary💎
BTC/USD
-Bitcoin is rejected near the 70k dollar psychological level
-An ugly -9% move hitting my swing trades stop-loss location
-Most altcoins are affected with this move recently invalidating some bullish structures of altcoins
-But looking at price structure, BTC reacted at previous local resistance at 63k dollars
-This level is a confluence of EMA19 and Fib 0.5 area which is a good potential support
-We have now a new strong resistance at 69k dollars and immediate support at 63k dollars
-The uptrend is still intact as long as the bulls can defend this support
-I took small losses on my swing trades but I have already updated my watchlist for new ideas
-Guys, if you got stopped out too, don't worry the market is full of oppurtunity
-You just have to look for coins that remain bullish and hold their current support levels
-The good thing also is the BTC dominance level is back at value 43 again which is a good sign for Alts
-So we will have another oppurtunity once BTC shows new strength or consolidate at support
-Good luck and keep safe everyone!
⚠️Please always read the description⚠️
Thanks for donating 💰 via Tradingview coins ozzyman2 🙏🎉
``````````````````````````````````````````````
If you need help🙋 don't hesitate to
Send me a message here PolarHusk 😊
``````````````````````````````````````````````
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Exercise Proper Risk Management 💱
``````````````````````````````````````````````
Bitcoin price forecast using crystal ballHello.
Another analysis of Bitcoin follows, this time using geometric graphical patterns and three blockchain indicators.
Price analysis
Over the longer term, we can see that we are below a bullish yellow channel. This has been happening since December/2018.
Since then, the price has tried to break through 2 times.
If we continue with the current trend (which is bullish), the third time the price will reach U$87 thousand, and later on, U$141,000.
Looking back, when trying to break the rising wedge the third time, the price plummeted down
(in an ascending wedge we have the exhaustion of the buying force).
On-Chain Analysis
The Puell Multiple
Puell Multiple can be interpreted as "If all mined bitcoins were sold immediately in the market, how profitable mining pools are compared to last historical one year?".
This metric helps traders gauge the market cycles from the global view.
When the value exceeds the orange dotted line, we have a profit taking, and consequently a price drop.
Spent Output Profit Ratio (SOPR)
"The Spent Output Profit Ratio (SOPR) is computed by dividing the realized value (in USD) divided by the value at creation (USD) of a spent output.
Or simply: price sold / price paid. "
When we hit the red dotted line or break it, we hit the top and right after that comes the price drop.
New addresses
"The number of unique addresses that were active in the network either as a sender or receiver.
Only addresses that were active in successful transactions are counted".
The two times the value reached the historic high, we had a drop in price.
Finally
So, based on all of this I made a price prediction, with a little black humor.
Good winds!
BTC/USD (Test ATH Price?)💎Technical Analysis Summary💎
BTC/USD
-Bitcoin respected the EMA 23 and Fib 0.236 from my last update
-A strong entry by the bulls and the price is back above 66k dollars
-If BTC breaks into new ATH, the Fib extension are the potential targets
-But if a failure to break 67k dollars, a test of 63k dollar support is likely
-The price action is bullish again and the same with the Altcoins space
-Since my existing swing trades has hit their targets
-I have opened new positions for potential movers in the coming days
-Make sure to follow strong coins or look for Alts ready for trend reversal only
-Good luck everyone, stay safe!
⚠️Please always read the description⚠️
Thanks for donating 💰 via Tradingview coins ozzyman2 🙏🎉
``````````````````````````````````````````````
If you need help🙋 don't hesitate to
Send me a message here PolarHusk 😊
``````````````````````````````````````````````
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Exercise Proper Risk Management 💱
``````````````````````````````````````````````
BTC/USD (60k Dollars Acting Support?)💎Technical Analysis Summary💎
BTC/USD
-Not much update today, Bitcoin is retesting its local support around 60k dollars
-As long as the bulls can maintain above this region with the confluence of Fib 0.236 and EMA23
-The chances to form a bullish pattern is still in play in the coming days
-Regarding the Altcoin space, I have opened new positions since my existing trades are already in profits
-The Bitcoin Dominance keeps decreasing its value so we can expect another good rally for the Alts
-But always be careful and follow your stop loss location
-Because we will never know if BTC will move wild this weekend
-Once your trade is in your favor, always lock in some profits or move stop loss at breakeven
-This is always a part of your good risk management
-Good luck everyone and stay safe!
⚠️Please always read the description⚠️
Thanks for donating 💰 via Tradingview coins ozzyman2 🙏🎉
``````````````````````````````````````````````
If you need help🙋 don't hesitate to
Send me a message here PolarHusk 😊
``````````````````````````````````````````````
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Exercise Proper Risk Management 💱
``````````````````````````````````````````````
BLX long term projectionsThis is just my long term chart. Feel free to judge. I'll try to update it regularly.
I'm not shure whether we will stay above the base channel or we well dump into the ultimate bottom line.
On the other hand all other signals, not on this chart, are pointing up. Yet can someone explain the volume behaviour pls?
Grts,
De Salien
BTC/USD (Fib 0.382 Acted Support?)💎Technical Analysis Summary💎
BTC/USD
-Bitcoin respected the Fib .382 level and manages to hold above EMA 23
-This is a strong bullish sign in the short term price action
-BTC might be also forming a bullish descending channel
-If the buyers can hold above 59k dollars until next week
-And we see a good breakout of this channel with decent volume
-We could expect a potential upside continuation this month of November
-Many Altcoins pulled back recently and I have closed some positions
-To protect my capital and keep my profits intact
-I can see many strong altcoins are still bullish
-I expect them to continue their rally if the market condition goes well
-I will re-enter new positions again once my confirmation bias is activated
-As I said before, only trade those strong coins
-Because those coins will definitely follow the trend of BTC
-Good luck everyone and stay safe
⚠️Please always read the description⚠️
Thanks for donating 💰 via Tradingview coins ozzyman2 🙏🎉
``````````````````````````````````````````````
If you need help🙋 don't hesitate to
Send me a message here PolarHusk 😊
``````````````````````````````````````````````
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Exercise Proper Risk Management 💱
``````````````````````````````````````````````
BTC/USD ($59k Level Good Support?)💎Technical Analysis Summary💎
BTC/USD
-Not much update for Bitcoin today
-Currently testing the previous resistance level
-We can see the price is reacting to this horizontal support
-If the Buyers can sustain above this 59k dollar support
-Consolidate and form a potentially bullish pattern in the daily timeframe
-The chances to print another ATH price is likely to play out next month
-Most of the strong Altcoins I'm holding are receiving good returns lately
-If the BTC Dominance will continue to decrease its value
-Expect many Altcoins will perform well too next month, so be ready
-My advice is only to look for strong coins that have a bullish structure
-Bullish patterns that are ready to break out in the coming days
-Have a trading plan and proper stop loss location base on its structure
-Good luck guys and stay safe!
⚠️Please always read the description⚠️
Thanks for donating 💰 via Tradingview coins ozzyman2 🙏🎉
``````````````````````````````````````````````
If you need help🙋 don't hesitate to
Send me a message here PolarHusk 😊
``````````````````````````````````````````````
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Exercise Proper Risk Management 💱
``````````````````````````````````````````````
BTC/USD (Test Previous Resistance?)💎Technical Analysis Summary💎
BTC/USD
-Bitcoin hit a new ATH recently but seems like a minor profit taking oppurtunity for others
-The price is now testing the 60k physiological support level and previous resistance area
-If BTC will consolidate within this support area and hold this level for a few days or weeks
-Then, another potential to break into a new ATH level is expected next month
-For the altcoins view, the BTC Dominance value started decreasing
-Which will give the Alts a breather to recover and potentially have their time
-I'm still into swing trades and will add more new positions once I see the good market condition
-Good luck everyone and stay safe!
⚠️Please always read the description⚠️
Thanks for donating 💰 via Tradingview coins ozzyman2 🙏🎉
``````````````````````````````````````````````
If you need help🙋 don't hesitate to
Send me a message here PolarHusk 😊
``````````````````````````````````````````````
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Exercise Proper Risk Management 💱
``````````````````````````````````````````````
BTC/USD (New All -Time High)💎Technical Analysis Summary💎
BTC/USD
-Bitcoin printed a new All-Time high and is trading above 65k dollars today
-The price respected the 50W moving average since its correction phase
-Since BTC is now at a new level of trading, price discovery is likely to happen
-We can use fib extension to potentially look for taking profit zone can be
-But for now, let us enjoy this new achievement for Bitcoin
-For the altcoins, they are not receiving the best opportunity yet due to strong BTC Dominance
-But their time to shine and make us good profits is coming close
-BTW, I'm currently into swing trades lately and doing good now
-I only traded coins with a strong price structure to increase my market bias
-I will add more new positions once I see a good confirmation
⚠️Please always read the description⚠️
Thanks for donating 💰 via Tradingview coins ozzyman2 🙏🎉
``````````````````````````````````````````````
If you need help🙋 don't hesitate to
Send me a message here PolarHusk 😊
``````````````````````````````````````````````
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Exercise Proper Risk Management 💱
``````````````````````````````````````````````