BitmexDegen

BitmexDegen Updated 

Bitcoins adventure above 19k is over for this time. For anyone who wanted to see this was pure distribution on both occasions price stayed on this level. SCMR is already indicating the trend in red on medium TF and expecting and accelerated move to the downside after this bearish retest of weekly OB. Btc will need to go lower to draw liquidity and re-accumulate...

BitmexDegen Updated 

A lot of people called 18.4k as local top and are likely going to be proven wrong very soon. Btc has one more leg to go imo and looking to start scaling out of long above 19k. There's no signs of any real weakness on daily and bullish momentum is intact. We could either front run ATH or overshoot a bit before Btc dominance breaks and money starts flowing back...

BitmexDegen

Boom, Btc is back in the 11k range again. Should test 12k level next. Note that that Eth is lagging this time after taking the lead on most of these run ups. This move is completely Btc driven as far as crypto is concerned.

BitmexDegen

Once again crypto got hit by high correlation to equity markets. This is what happens in risk-off situations when everyone's fleeing to cash. Pretty much the same scenario as when we dropped from the 11k range driven by trad markets, but less violently this time and didn't really go deep into demand block. LTF (H1) BB Bot already giving multiple long signals...

BitmexDegen

BB Bot signalling multiple times on H12 and bollinger bands squeezing (BBW in lower pane). This is indicates that a strong move is about to happen.

BitmexDegen

Btc has been absorbing sellers each time 10k has been broken and late fomo shorts have been rekt over and over. Judging from this and how high cap alts have behaved on every bounce, I would say we will see a face ripping short squeeze unless the stock market completely collapses on Tue/Wed. Crypto is a risk on asset and highly correlated with equities in a crash...

BitmexDegen

A number of long signals turning up H12 for BB Bot. This is a very significant signal and 90% of the time means that price will reach the upper band. BNB already made a move and I believe that LINK is next. Band squeeze on H4 indicates that volatility is incoming. Ofc macro (in this case Nasdaq) can still destroy this but until Tue there's room for crypto to move.

BitmexDegen Updated 

Looks like Btc is warming up for face ripping ride here. Long your longs ladies & gents. Entered swing long (a bit late) at 11.2xxx after the bounce from range bottom was confirmed. BB Bot signal on H12 is very significant and was a prelude to the run up from 9.1k I believe we will break up from this range and finally take out 12k at the end of this move.

BitmexDegen Updated 

The previous long has come to an end here I believe, SCMR indicating local top and heavy absorption of buy side. Shorted 11.522 on perps (using Binance chart here since it's cleaner)

BitmexDegen

This is more or less a no-brainer after yesterday drop to 11.100 and massive liquidations (someone filled on those market sells and wants to take profit) plus the fact that short kept piling in. Strong long indication (double arrow) by BB Bot from the band deviation is a signal I'm super confident in, SCMR is supporting this by painting reversal to the upside....

BitmexDegen

The last long played out ok for abt 200 points. This time around the bounce looks way more iffy, and this pivot basically needs to hold to not test the weekly 11.3 pivot. Not entering anything directional here, esp as USD is showing strong reversal to the upside = bad for crypto and metals over the last months.

BitmexDegen

Btc back to accumulation area, as indicated by BB Bot green arrows, after the successful long and the 5BH gtfo signal from SCMR at the top. Only thing that could muddle the water is that USD has shown extreme weakness lately, and that will likely not be allowed for very long. Keep an eye on DXY if going long Btc here.

BitmexDegen

Long looking good after some more limit orders loading their long bags in this demand zone. We didn't have this type of strong BB Bot signalling since the last move up from low 9k. All kinds of bollinger band deviation signals to go long here. BB width still a bit high but turning down and should bottom out before we get the next move. This is an accumulation...

BitmexDegen

Almost a schoolbook example of swing failure pattern into H4 liquidity pocket to shake out over-leveraged longs. BB Bot picked it up as well and gave the signal on band deviation. Note how BB Bot and Better SCMR gave the signal to gtfo at the top.

BitmexDegen

Bullmarket decided to not take any free passengers onboard lol. Better SCMR called the move on H1. Perfect hit of BB Bot level and now bullish retest of the 11.3 level we just broke. A weekly close above this line will confirm this scenario. Stay safe out there and don't overleverage/ trade naked.

BitmexDegen

ETH making a perfect bullish retest of previous resistance level on H4. BB Bot nailed the short as well as the horizontal level for retest. Also notice the increase in BBW after the spike up, indicating that volatility is slowing down. Imo we are not in an all out bull market until Btc breaks thru 11.3k level and confirms it as new support. Gl, and may the...

BitmexDegen Updated 

Perfect hit of the upper Bollinger band and the resistane line indicated by BB Bot mentioned in the previous post. Limit short got hit and took initial profit to pay for the trade. Trailing stop in place now. Ideally would like to see a retest of 10k area to confirm sup/res flip, but as we know Btc has a tendency to not look back while trending.

BitmexDegen

So Btc is above 10k once more. Currently at weekly resistance line (see chart) as indicated by BB Bot. Notice that the volume is much lower than last time we tested this area, which doesn't exactly inject confidence in this move. If we break this horizontal I would expect a bullish retest (resistance flipping into support), and a test of the next horizontal...