BTCUSD And Understanding what is RealityHey Guys, filming this one from the South of France before off to Monte Carlo Later!
As we said previously, the rally up to early resistance on BTCUSD was fended away, as we suspected.
If you are sitting on your hands waiting (diamond hands) You may be sat for a long time...
ANY market needs a reason to rise.
Markets tend to take longer amount of time because economic stimulus has to change.
Anyhow, this is what we are looking for now!
BVOL24H trade ideas
Can Btc reach the full target of this simple bullflag?Amazing price action lately for bitcoin as it is now breaking up from a bullflag with a full measured move target from the flag of $64808. We can also see that if the current candle closes similar to the shape its in now that we would have a 3 green soldier candlestick pattern on our hands which most often s signals a bullish continuation. Of course there can always be exceptions to the bullish continuation but those are always a low probability. Let’s see if we can reach this full breakout target of this recent bull flag before any significant pullback takes hold. If we do we may just surpass the first top of the last bull run and be very close to nearing the current all time high *not financial advice*
Follow up to BTC Longs Bubble In 2022 I posted my theory the BTC longs chart had bubble like tendencies. I was partly correct. I forecast longs would spike and then drop.
They didn't spike. Did drop.
My forecast here was based on the expectation people would close out longs near the low and there'd not be much participating in the rally. That's how things realistically go. Social media will pretend otherwise - but that's what happens. Here, most BTC bulls exited at the low. That's the realities of market pressures.
It's easy to say you'll hold when things are high. Hard to hold when we're dropping 20% in a day and major exchanges look like they're going to go down in a domino effect.
Now I'd venture a forecast the BTC longs will begin to rocket again - anti-correlating with price downtrending.
If it was all a short squeeze, it was very efficient. What a long way we've come from the panic over the SBF thing.
When I posted the points warning of a short squeeze coming the short interest in BTC was over 9,000.
Today, the short interest in BTC is at an all time low.
We now into the area where there'd classically be most risk of a rug pull setup in BTC, but we have very few people interested in betting on it.
BTC SHORTS BTC is short at the support line
March 2022
March 2023
It can break down our bounce, which makes sense when looking at the historical 12M chart and 46K candle resistance.
We are at a time when we should expect a big break out of 60K resistance or break down with 35K and 30K support.
The 17K gap is still open, and it's always on my radar for this or the next cycle.
Unless it is a breakaway gap that, by rule, does not always get closed 50/50.
BTC is going to reach new ATH around $75k-$90k in January 2024First off, Bitcoin is in a very strong bull market since 2009 so likelihood of new ATHs is always higher than not-reaching ATH ever again.
Throughout 2022 Bitcoin was in a clear correction / pullback phase after 2021 distribution.
Market got cleared out of leverage with Luna, FTX, 3AC, etc. fiascos and built ground for a new wave of a bull market.
Bull market started in 2023 with no signs of distribution so will likely continue.
Price is very close to ATH and given 10 Jan 2024 ETF deadline its about time for big emotional swings no matter whether ETF gets accepted or denied.
MA50 D1 acted as a support in 2023 bull market so it's very likely it will act as a support again and price is very unlikely to break through it down.
Other than that price is consolidating in a clear abc Eliott Wave correction below strong $42000 resistance, once it breaks out there is no real resistance until ATH.
Also, price is in a clear Eliott Wave ending diagonal pattern since a couple of months and ending diagonals in BTC bull markets tend to break up with strong impulsive movements.
All cards are lined up there is a huge likelihood of ATH soon with ETF deadline being a catalyst for the move. BTC is a very strong buy now.
BTC short-term is going to drop from $42700 to $40k.We are in a bull market and through Dec 2023 clear a, b, c correction is being made.
Wave a and b are clearly done.
Wave c looks like a textbook ending diagonal pattern with waves 1, 2, 3, 4 already done and now we are in the middle of wave 5.
The drop won't stop until price reaches $40k level.
It's a good trade with a very high likelihood of success and amazing risk to reward.
$42700 is a good place to short with a stoploss at $43900 (above wave 4) and take profit $40k.
X MARKS THE SPOTI'm starting a new series of analysis called X MARKS THE SPOT. A fun and simplified way to present price targets without the "fluff". I will save all my results into a database and present yearly reports.
The X represents our price target - obviously - however as many of my followers have witnessed throughout the years, my self taught analysis tends to be extremely accurate. This will be a good way to measure accuracy, something which should be deemed impossible. The X represents our goals which may happen before or after the predicted time frame. Above and below the target are my support/resistances. They are not traditional and instead curated with my analysis Having said that, it is important to exercise risk management. Now, lets begin this series and the life people bring to it.
I will incorporate entry and stop loss in future analysis as well.
BTC topping out around low 50s then coming to test 28-34k = MOONHello,
Green money flow curling up. I see alot of resistance ahead . BTC seems to be gasing out.
I see a top out at low 50s because of the thick resistance.
This would line up perfectly with what market cipher (lower indicator)
Creating a smaller wave (marked yellow bottom) which then sends us to the moon with a thick green money flow wave.
All of this perfectly times with the 2025 halving , multiple interest rate cuts in 2024 which could tank the market and more wars, covid before elections ETC.
100k is the dream but im realistic and my track record shows.
I shorted 46k in March 2022 when everyone was longing, proof in my "ideas"