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Take The Stress Out Of BITCOINEveryone has this burning FOMO; take a chill pill and relax. Bitcoin is becoming institutional, whilst most people will say that means more big money in, it must go up! They miss the fact, the same big money will want to accumulate! It's actually very obvious when you take a step back and look at the big picture. I got a lot of stick last year for posting the Wyckoff distribution schematic (at $62,500) NOBODY believed it and hey we pinged my targets. Once we started to see accumulation of the weekly 4, you could quickly see the levels for an extension and why we would create what is called a truncated weekly 5. I took the time to explain this in August and why the move up to the current ATH was limited at inception. In order to understand, you need to know about money flow. Some people will call this smart money, others only know the term manipulation. When you know what to look for, you can see the pre meditated moves - their flashing with neon lights. I covered the COT situation back in November, which clearly showed massive short positions - Again like the distribution from the weekly 3. I posted to explain the situation and was bombarded with "we are off to the moon", "This is accumulation not distribution" Oh well, guess what we dropped AGAIN. Who was selling the rally? Well, who do you think? I'll give you a clue - COT data painted massive shorts. Which means retail (Dumb money) buying from Wholesale (smart money) - get this, AT A PREMIUM So jump foreword to the current situation, we are monthly 3 down to monthly 4 in the Elliott bias. Every retail trader, especially those carrying red bags. They all want the bottom to be in. Take a look at "smart money" levels. I have used a traffic light system, Red being larger, orange medium and green local. the blue is the live level. There are clear imbalances left un-tapped from above (important for a potential B swing) We have a huge cluster around the 28k levels - again smart money knows where the money sits. This key area was the first line target back in November when looking at destruction after a truncated 5th leg. Using Point and Figure extensions this range was the target, I don't feel the well has been fully tapped. We have some logic for a long drawn out accumulation as is, my current thinking is the A is yet to complete and we are still forming a combo move within that larger leg down. This will complete before we get to witness an explosive B move to chase the liquidity and sucker more dumb money into moon calls. If you hadn't followed the roadmap - I recently did a 3rd update. So in summary, don't jump in, follow the "smart-money" and wait for confirmation. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
14
ETH/BTC at lower part of the range (Buy setup)ETH/BTC at lower part of the range (Buy setup) Context : Etherum is evolving wit h a clear outperfomance versus Bitcoin since the end of 2019. This ETH outperformance trend is since the last past 9 month in a pause within an ascending range (Yellow). Regarding the wave structure composing the ascending range we can conclude that the pattern is now or about to be finished and show an opportunity to catch a new significant bullish dynamic by anticipating a bullish breakout from this structure and at least a test of the previous top area in a common part scenario (Last upside leg before consolidation) +> NEws flow : More and more article are speaking about ETHV2 , it is more than probable that ETHV2 will be full operational one day but many people into blockchain tend to say it will not be for this year maybe.... So take care... buy the news yes but the technologie can take time to be released. Also Many regulation and supervisor are banning the POW mecanism in oreder to eraze the consequence of the mining so we can't ignore that ETHV2 will be not operational before a ban of the POW from many juridiction..... (Time to check HBAR : Hedera Hashgraph which offer a significant alternative in this context) Key Elements: - lower part of the ascending range is support - 233EMA is support whil the shorter period are mixed (Range config) - an ongoing divergence on RSI can be highlighted (bearish momentum exhaution) - Fibonacci multi level at 0,0595 Tactical View 3 to 9 Weeks Last upside leg - As long as 0,0595 adjust the weight of the ETH and BTC in the portfolio in order to reduce the BTC exposure.
Long
by JeanJean1983
1
The Bull W from HellI believe what we have is a great entry point that will never be repeated in our life time. A W pattern that is going to gather support at 2400ish and then blow up faster than any of us have seen. It will be a headline news event. Disclaimer: I'm not giving advice and nothing I say should be taken as investment advice. Never invest more than you are willing to lose. Best of luck, I'm off to Vacation, I'll be back on the 12th, Plenty of time for this to drop down and fill my orders :)
COINBASE:ETHUSD
by bigfootInvestments
BITCOIN DAILY UPDATE - The split zone Hello trading friends, This is a daily update for BTCUSDT depending on the last trends. We have seen since BTC did hit the 35.8 trends, it did enter a new uptrend to the 37K level, from there it did get a volume powerline trend action to 40k+ After that we see BTC into a stable trend between the 38.2 and 39.6K #This is not a short or long idea - its an idea that shows are the trends at this moment The split zone is an area in most times no trading zone, that should get confirmed with a time frame and side choice. Data Trends Depending on data we are into A trading zone for a low time frame as BTC still playing between the standard zones. It's important for the uptrend that BTC holds the 37.8 - if we break down this point with time frame and confirmation - BTC could break down more. Now it's important to see if BTC will keep going the increasing trend, or we will hit the 37.8 which will make a new breakdown change into BTC. As it's a split zone - we should wait for some confirmation for the low time frame area. Have a great time - we will see coming time the new changes. # this is not a trading call - also BTC can change unexpectedly since the last trends in Ukraine and Russia - on this reason manage always your risk. If you trading also BTC - show your nice like and follow - Thanks.
by watchtrend
BTC - TIME UPDATE - WHERE ARE WE NOW?Hello trading friends, This is a small-time update for BTCUSDT. Depending on the last trends we have seen that BTC Did hit 38.6, further, did BTC increase to 39k+, and after that, we have seen a trend did return below 38K - This price action show is a time frame that BTC has also played also more times into historical trends. There is no reason for the confirmed breakdown trend of BTC if we hold still the 37K level. and to be exactly BTC should hold at last ---> 36400 We are now at the time frame confirmation area - which means there is still a high chance that we will return to 39K and further uptrend area - in case there are unexpected trends this could change - until now it's still the green area. Manage your risk well - and have a great trading day. If you like the content, give it a like and follow - Thank you
Long
by watchtrend
8
flat triangulation Like and follow to help me out, thanks. the loss or profit is not known and with all news going on right now this is a hold position until I see a brake out up or down and it very well could go down witch is my bet. we are not at bottom yet, I see ETH 1800 as a support lv and BTC 3100. you can shot this by buying and selling on the hours high and lows but as we move to the end of the triangulation pattern, we must see a breakout and what way it go's in not know. I think move to the down side as I said, and it will go up, from here or from 1800 is the big question that no one truly knows. Cost average is the key always and when in this pattern it is the bible of trade. I am only showing you and idea of my opinion of the patterns I see. It is not and should never be taken as advice on how to trade. Never invest more than your willing to lose.
COINBASE:ETHUSD
by bigfootInvestments
Bitcoin is becoming institutional Over the last 14 - months I have made these posts public here on @TradingView What I found interesting is the level of respect that Bitcoin is building, many traders are looking for short term gains - but they also contradict themselves with the idea of possessing DIAMOND HANDS!! Once you have a feel of the trend bias, it's actually becoming so respectful of these levels, its incredible to see this play out. If you want to follow the path, you need to know where it's been, where it's at and why it wants to go where it goes next. So let's look back all the way to December 2020. You can click on each of these images for the actual posts; So in this post I covered why the move would link itself to the stock market and what this means not only for bitcoin, but the whole crypto space. Jump forward a month and I was highlighting the Re-accumulation phase we where seeing. This is key, it led to the "value area" levels later on. As you can see from this post below; the value area was defined and this gives a key point to anchor from. Play out the image and you can see the significance of the level. But, that is not all - go forward again and you will see this level being used a second time. Now if you don't follow the education you might not appreciate why this level is significant. So here's a full post on education. This covers an awful lot of content in one post. (click the image) ==================================================================================== =============================================================== ===================== This is where it gets even more interesting; In March I covered first the Logic for it's drop back down at a key level for distribution. Followed by the roadmap we where likely to see. Now I don't use Elliott Waves for the ins n outs of it. I use it predominantly as a tool for bias. So with the bias in mind and some logic for the drop; what did we see? Well - the drop. This for me was the foundation of the "institutional" Bitcoin. In the roadmap I posted why we where likely to go into a range - defined; As you can see from the date - this was already written in the logic, back from the value area's anchor point. Fast forward a few months again and you will see - nothing but respect; As we moved away from the bottom levels (thus the weekly 4) we saw very little volume in the move up, so added to the logic as to why we would likely see a truncated 5 which would equate to the monthly 3. This was the 24th of August. =============================================================================== =============================================================================== The next part, was just as impressive to watch (the charts that is) - when I saw the low volume move up and the move looking like it would need a drop quicker than expected. I spent the time to forecast the next set of key levels; again, into unchartered territory. When you take out a previous high, you should expect the price to rush passed and attract many new buyers - but yet we did not. (I'll cover this next) So the forecasted level was drafted in September. This was then what we would now see as the current ATH (at the time of writing). Above I mentioned why the logic was already there for a truncated 5th wave up on the weekly. So for this, you could see inside the COT data @TradingView has recently added some features on COT (Commitment of Traders). But here's the post I did on the COT at the time. ================================================================================= ================================================================================= So the logic would imply we saw the weekly 3,4 & 5 making a monthly 3 and therefore a drop down to 4 Monthly. If you revisit my comment from the image in August you will see the text in the centre of the image, explaining we would likely see 40k fast after going just above 65k. Therefore - the respect of the instrument is growing, we are seeing more and more institutional players, meaning this will become easier and easier to read in time. I have covered Dark pools in another educational post; You should understand this concept if you are not yet familiar with it. Large players entering the space does not always lead to a long position - as we can see from the current price levels. =================================================================================== =================================================================================== So for the next moves we can start to identify the swings inside the 4th of the Monthly, this in preparation for the 5th Monthly. If you have followed my streams or @Paul_Varcoe - you already know where we think the price is currently sat. If you don't follow (well you should). Then in essence Paul will cover the shorter term move. But longer term - I feel we are still making an A of the 4. This does not have to be deep. Just painful for retail. If you know how composite man operates, this is a signature move, being played to perfection. Anyways! Have a great week. Thanks for taking the time to read through this. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
10
TOTAL market cap set to drop furtherBeing rejected by the 21 weekly EMA and the descending trendline that it failed to breakout from. Failed inverted Head and Shoulders. Below the 4H 200ema. Below previous range support and penetrating longterm support. The 1 trend Fib extension is confluent with the 3.618 indicating a possible target. Breakdown of the RSI and CCI trendlines. RSI has plenty of room to spare down and CCI seems that it will be stuck in oversold. Price action is mirroring August to November 9th's price action but upside down. I flipped the price action where price found support at the 21 weekly EMA, on the 30th of September, pasted it to where currently price was rejected by the 21 weekly EMA. Drop in the market might be delayed with a bounce of current support, but overall price action is bearish and has failed to flip bullish.
CRYPTOCAP:TOTALShort
by nagihatoum