MichaelWallat

MichaelWallat Updated 

Many shorts in the system, about time for a clear out in my opinion. Hopefully it goes even higher today then the top of my prediction arrow. Today's price action should reveal more. Im favoring Longs here even if there is a small fake out retrace I think today's end result will be up.

MichaelWallat

A severe retrace would invalidate this idea, but I see 99.625 being hit by some waves. We will see how it goes...

MichaelWallat

I think it can either directly go for this area of green liquidity here or it may retrace a bit first but price has accumulated for a while here with momentum, there are probably enough shorts during this accumulation to continue up and if they do want to do a steep correction within 90 days or so, they would want to move up and change the narrative to bull before...

04:41

MichaelWallat

We will see the MM's intention today as they have held prices somewhat flat in response to recent news. I think we may get a continuation up today. They have taken the lower liquidity and even had a lot of time to accumulate so I think a potential strong move up may be in store but as always watch for early shakeouts.

MichaelWallat

We see here that my "interest zone" at 58 k has been a resistance for some time but they have now rocket shipped through it. Can it hold or does the MM have other plans???

07:12

MichaelWallat

I go over my thinking for nailing the 6% drop and the rise back up to 58k for Bitcoin. In the same idea I had shared and I talk about the need to be patient right now as we potentially have over-speculation causing tight choppy waves. We need to let the chart speak to us and right now it's not saying anything.

MichaelWallat

That move was necessary and clears the way to move back up to 58k. It may even do it over the weekend. It's been holding price for a while and I feel like they may actually carry it out. The crypto market often does the unexpected. See you Monday!

03:31

MichaelWallat

53, 6 looked like a potential target and they are atleast heading that way right now. They had move price up a few times and brought it down, with the market extended anyways I felt that down could be very possible and it was. I do anticipate a strong move up after this correction. I see this as a retrace to go higher. Cheers!

05:52

MichaelWallat

A slow Thursday and potential leverage in the chart. Non-farm and other news is up today. Price is moving a bit slow and I don't have a a confident idea on the direction. A guess would be a fake move up to take shorts and inspire longs then back into my green zone for the lower projected areas. Dow has been rising consistently and a retrace would be understandable...

MichaelWallat

A drop from the 50 after a few 15 minute candles didn't really do much would have been a good entry. About a 1.8% drop. I was correct about this 57,200. I had finally had a chance to review some higher time frames and that proved effective. MM can go either way here but dont be surprised if the lower green areas are taken as there may be high liquidity there...

MichaelWallat

Ive charted the longer time frames and think I may have found the zones. Further down will take current longs and instigate the opening of shorts where I think the mm will come back up and close those shorts 53 618 is a key level and i wouldnt be surprised if you get a direct hit on it today before moving back up.

MichaelWallat

Traders bought into new near highs prices and paid for it. Being burned twice there may be no volume at the two previous tops so will the MM retrace further for cheaper and cheaper longs or has he absorbed and wants to move higher?

MichaelWallat

OK, so they've built longs from 37.140 and they haven't ever left money on the table since I've been watching. My guess as of now is that they reclaim atleast 50% of the yellow box which are longs they haven't come back for yet. They may keep going and sweep the lows but we'll just have to see when we get there. What I think they're going to do is make it look...

MichaelWallat

So we're probably looking at a rise to my level 3 "estimate" zone here. I then think they are going to bounce from that zone to this current zone for the last few hours of the weekend , act like they're rising through the 40.409 zone which has Superman level resistance and then probably significantly retrace. Option 2 is that the recent retrace has taken some long...

MichaelWallat

Look left and notice the multiple attempts at crossing 39k. Multiple rejections leading to an eventual 8.32% retrace. Combine that with the fact that we are going into the weekend, unprecedented geopolitical circumstances and the fact that it's currently dumping and it's going to be a hard to overcome in my opinion. If this does play out 37k is not out of the...

MichaelWallat

So after dropping Bitcoin as a precaution they drove price up and liquated a massive ammount of shorts while inspiring people to turn bullish. In a highly aggressive fashion they then completely dropped price as everyone was long and took an equal ammount of long positions. In the most unusual fashion they have now driven price up 19% overnight and liquidated the...

MichaelWallat

With all the recent liquidations both on the run up and the sharp move down the Market Maker has acquired the ability for this move up IMO. Wait for the move to finish and lets see where it lands so we can plot key areas for the week. I do have some projections of where this may stop based on trend lines but if it clears this major resistance it may just keep...

MichaelWallat

Somewhat overextended the Dow may push BTC into some trend lines it can't just force its way past. Any slight retrace from the Dow as BTC connects with these trend lines could lead to a small retrace in BTC. The other option is that a significantly positive day for the Dow may bring BTC through these trend lines where it may at some point retrace toward them.