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BTC TAKE PROFIT ?! Hello Community! When looking at the Daily TF, we can see BTC/USD has been on a strong bullish trend over the past few weeks. The trend line shown has acted as accurate support throughout this climb. I believe bitcoin is on its way back to test the previous highs but it will take a few more weeks to do so. Along the way, there will be corrections and I'm assuming the next big correction might be on its way if this trend line is broken decisively. On the map, I'm showing the next major S/R zones and the percentage gains for whoever is looking to stay long or go short after the trend line is broken. Keep in mind the RSI is showing lower highs and the MACD is forming a bearish cross. Let's see how this plays out. Don't trade with what you're not willing to lose. Love it or hate it, hit that thumbs up and share your thoughts! This is not financial advice. Safe Trading Calculate Your Risk/Reward & Collect! Simplicity Wins
BITFINEX:BTCUSD
by rnaofs
2
BTC USDT correlationHello traders, I think those two charts are useful when used alongside each other in correlation. It is logical that decline in BTC price leads to inflow in USDT and vice versa. So we could say (and the chart shows, that the correlation between the price BTC and market cap of USDT is inversely proportional). For further simple explanation there are some events marked on the chart: Red Flag - A gap in USDT inflow probably shows that institutions are selling before BTC price declines. It is actually only the third candle on USDT when the selloff of the bitcoin occurs. Blue flag - USDT cap fails to pick up momentum and start going down significantly while BTC surges. Orange flag - USDT market cap is flatting out, fails to go lower low and starts forming local higher lows. BTC is still pushing higher, but the trend is converting to the broad bull channel/Trading range as more and more bears are buying into the shorts and more and more bulls are taking profits. Purple flag - BTC - huge rising wedge formed and wedges tend to break to the lower side. Lower high also formed and after. 3rd higher low formed and money starts to flow into USDT. Green flag - wedge top in USDT, while wedge bottom in BTC. Reversal on both charts. At the moment USDT market cap is in sharp decline, which might signal that BTC will be going much higher
Education
by Sharkethics
23
PULL BACK OR ONE LAST PUSH + US TAX LAWSWe either go touch 1.33T or we hit 1.0T and pull back. Could be seeing some bad news coming out of the US about Crypto Regulation. In the Infrastructure Bill, Taxing Cryptocurrencies is coming up. The US is looking to Tax miners by wanting miners to keep track of every coin that they sell off into the Crypto market and paying taxes on every transaction between the buyer and the seller. This also goes for blockchain company's in the US Keeping track of tax on every coin. This will close the door in the US on any new Blockchain development. This will force innovation to go outside of the US. As for investors. Any transactions totaling $20,000 or more in any exchange, Will trigger a audit of your account if you're found not paying from cashing out from coin to cash. But i do see a bullish scenario. Say everything above plays out. i believe it will trigger a good size sell off at first. but as long as you don't cash out into physical cash. This will cause people to just hold Crypto even more now. New bartering system becomes of this. Why use cash if you just keep printing more of it. The printing doesn't seem to be slowing down, looks to be getting worse. 2028 - 2031 will what i believe be the crash that turns the rest of whats left of fiat into digital currencies. LET THE TAX GAMES BEGIN
CRYPTOCAP:TOTAL2
by KidCrypto514
1
ETHEREUM Flipping Bullish ETH appears to be entering an accumulation phase after spending the last 3 months in distribution and has now crossed into my own personal long areas where I have large positions now filled at $2330. As many who follow my post know, breaking above the .236 fibonacci for me is the optimum spot for longs, and ETH has done that in regard to its fib retracement of $4372 which as you know is the all time high in price for this asset. Without the need to hype things up one should just know that this is a very big deal IF the price can hold above $2331 at the close here in just over 30 minutes. The concern here I will admit is that similarly to BTC, ETH has put in several green candles, and is now overdue for a red one. That means we need ETH to maintain decisively above the current .236 fib level with enough room to put in a following red candle that could backtest our fib level as support. A close below the .236 as Im sure you now know is bearish and would almost certainly mean Ethereum retesting lower levels in some shape or form. Should the .236 ($2331) level hold as support here in the next 24-48 hours, ETH could see fireworks with a first targeted move of 15% roughly before hitting the next fib resistance area. This will be one to watch due to the fact that ETH dominates the altcoin marketcap which means if ETH is flipping bullish, then altcoins as a whole more than likely are too. Stay tuned.
Long
by TradeVibez
3