Bitcoin : Buy the Fear & Sell The GreedBitcoin lately has been testing Patience of many traders and making holding longs way more fearful for many Traders.
I would like to Represent "The CONTRARIAN VIEW" for BTC in this Analysis.
--------------------- TWO BASIC GOLDEN MANTRA's in TRADING ---------------------
Before starting anything, I would like to discuss Two Concepts in Trading that are like Golden Mantra's or Golden Rules of Success in Trading. Those are :-
>>>>>> Buy Low, Sell High <<<<<<
OR
>>>>>> Sell High, Buy Low <<<<<<
Although, These concepts seem very simple & easy to interpret; But, These "BASIC" concepts are "EXTREMELY" hard to execute.
Some call them luck, Some call them Skill.
Some call them... Probabilities .
------------------ Social Sentiment & "BUY THE FEAR" View Explained ---------------
1) If we look at Social Sentiment & Market Sentiment, it has been bearish for last 3-4 weeks now.
From last few days, Majority of the Retailers have turned "BEARISH". & They are looking forward to sell the Rallies at this point.
2) Please Ask yourself a Question, Would whales short at this point ?
Probability is very Less that at Such good Support Level Whales would Sell their BTC and SHORT BTC.
3) Using Fear & Greed index, It can be observed that We are currently Sitting on EXTREME FEAR in Crypto Market.
So, IS IT "NOT" Supporting One of the CONCEPT GOLDEN MANTRA OF TRADING, Buy Low & Sell High ?
Also, Isn't it very LOW RISK at this level to go Long ?
---------------- My Reasons to be Bullish on BTC & Crypto Market for Short to Mid Term ------------------
1) Double Bottom :
2) 2-Day Timeframe Bullish Divergence :
3) 4-Hour Timeframe Bullish Divergence :
4) Not so Good looking Falling Wedge :-
5) Hourly Timeframe Demand Zone Retesting :
6) 8-Hour Timeframe Look on BTC :
Considering all of these Abovementioned Reasons, I, personally, am long on BTC & Crypto for SHORT-to-MID-Term.
However, if i am wrong, and then for me, Invalidation Point is 39.5-40k :
This by no means is a financial advice. This is just my personal view and despite i am right or wrong, Trading is a game of Possibilities and Probabilities.
Thus, my view is Bullish for BTC for now and for upcoming few weeks.
Market likes to teach us a new Lesson everyday. So, i am happy to be wrong if that is the case.
Rest, enjoy everyone & Trade Safely.
Hidden Bullish RSI Divergence
Hidden Bullish Divergence on USDCHF H4 TimeframeFollowing the recent strong bearish movement USDCHF have formed a hidden bullish divergence on the H4 and H1 TF. This might indicate bullish run will soon start. For now, price is testing the recent swing low (HL). If this level should hold, then we expect a break above 0.91221 which will further confirm the bullish run. Our SL is tight, placed at the recent low (0.91492) while our TP is placed around the next resistance (0.92610) giving it a 1:3.8 RR
Hidden Bullish Divergence? [SHORTTERM]Bitcoin is maybe forming a Hidden Bullish Divergence on the 4 Hourly Chart. For the Divergence to "confirm" the Price needs to stabilize on the Levels it is by now.
A further breakdown could also lead to an Exaggerated Divergence. For this to happen, the Price of Bitcoin would need to dip to 48'025$ but not below and the RSI should still move downwards. A break below 48'025$ would invalidate the Divergences.
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This Analysis is not intended to be investment advice. Always DYOR.
Corn: Early C Entry on Bullish ABCD BAMM to the 1.13 ExtensionCorn seems to be Breaking Out Bullishly from a Descending Channel and the Projected AB=CD move would take us to the 1.13 Retracement. We may be able to take advantage of this Projected move by Entering now on the Breakout and an attempt to capture the CD leg's Projected Move Up.
We also have a bit of RSI Hidden Bullish Divergence to back up this Potential Early C Entry.
BTC 83k in Q1 2022Bitcoin looks like it is about to enter a 3 months of bull-run. Wave theory and hidden bullish divergence on rsi with a positive overall sentiment around the world after the omicron panic indicates that bitcoin is going to have a really good quarter. My personal price estimation is close to 83k.
Piercing Line Above Previous Resistance May Take SOL Up To $320Sol retraced down to the PCZ of a small Bullish Bat Pattern above previous resistance and we reacted well to it and used it as a support to form a Piercing Line Bullish Reversal Pattern, now the RSI is showing signs of Hidden Bullish Divergence as well as the MACD.
This looks like it could be the final test before we finish our ABCD move up that would take us to around $320
LTC Hidden Bullish Divergence at Neckline of Double BottomLitecoin doesn't seem very likely to let BCH outperform it as seen on the LTC/BCH chart, with BCH going up the only way for LTC to outperform BCH would be for LTC to go up as well so i think this Double Bottom has a higher probability of working out for us in the end.
Solana Looks Like it Wants To Take Some of ETH's Market CapSOL/ETH has a potential ABCD BAMM which looks more likely to playout now that we have a nice looking Bullish 5-0 formation at the highs with a decent amount of Hidden Bullish Divergence. This may lead to us rallying up to and above the B point of our ABCD which by then we should have a clear runup to the D point at the 2.618 Fibonacci extension.
BTC.D Looking To Continue It's Ascent Into the 50sBitcoin Dominance showing great amounts of hidden bullish divergence here signaling that the decline in alt coin valuation towards Bitcoin may not be over yet.
On more thing to point out here is that soon we will be getting a golden cross on the daily.
Bullish Hammer at PCZ of Gartley with Hidden Bullish DivergencePTON Had a crazy dump day the other day and lots of v9olume sold out of the stock we then spent a few days at the 78.6% retrace and we now seem to be getting a reaction, so long as we close the day like this, this should be a good bullish signal to enter. i will buy some shares and some calls here.
$CGC Revisiting The Bat PCZ For a Second Time.CGC had a bullish setup in this area before why not try and go for it again and potentially fill the wick that we created during the last run?
We have bullish Divergence on both the MACD and RSI suggesting that we may get a bounce from this zone again and this time we may even go higher than the last time.
Check out the related idea section if curious as to what conditions CGC was under just before the last bearish reversal.