pnaik732

pnaik732

BTCUSD now above the big up-sloping channel AND the mini up-sloping, but hitting severe resistance. Not Financial Advice: Lighten up on positions if you are exposed to too much crypto/risk. If it breaks through resistance and runs; you won't regret having lightened up. If it falls back down into the up-sloping channel you won't regret it either; can buy it back...

pnaik732

Big resistance line being tested by BTCUSD on the monthly.... getting back above would be bullish. On the other hand, if this turns out to be a failed retest, might be bad news for BTCUSD

pnaik732

If this forms a cup and handle, could mean relative outperformance from Bitcoin in the future. There is no doubt that Bitcoin is perceived as the safe haven crypto. The only question is does dominance go up due to inflows, or due to altcoin outflows.

pnaik732

The long hard fight continues against the downtrend. Sure, the housing market is done.... but if there is life relative to the safe haven there may be one more asset rally yet

pnaik732

The hope/despair line continues to provide an inflection point for the markets.... If the market can hold this, would be bullish. Stay tuned.

pnaik732

BTCUSD accumulating under the most important trendline. The line needs to be recovered for any hope, otherwise 14k is next big trend support (there may be some horizontal supports around 15k also)

pnaik732

take a look... this could be for real.... still needs to confirm

pnaik732

14.7k target never reached, closing above these lines of resistance would put things back in the bull regime

pnaik732

Now to see if hope rules or despair continues. crossing the line will cause a squeeze for sure

pnaik732

CPI will tell the future here this line needs to hold for the melt-up scenario

pnaik732

support failure. think this will go to 14.7k, then bounce hard. Then what, who knows, maybe depends on CPI in any case, it's a fire sale --- the hodl'ers dream --- time to start stacking sats not financial advice

pnaik732

still possible to regain support here, but at the moment this doesn't look pretty

pnaik732

at least a bounce should be expected here presuming no new crypto disasters... it's par for the course at this point though isn't it? not financial advice

pnaik732

Will there be a resumption down now? Or is the mini-alt season over and now BTC will (eventually) lead us out of this winter?

pnaik732

21.7k channel target clearly invalidated Now the most important trendline in crypto and the horizontal support are key. For the long term, can't go wrong nibbling on BTCUSD here. Short term who knows... is this the last of these wacky contagions? we are about to find out whether ETH and BTC are the same as FTT and LUNA Not Financial Advice

pnaik732

Not financial advice Long to 21.7k unless there is a substantial breakdown of this channel

pnaik732

A resumption off this line would be great for risk assets A breakdown --- more pain to come

pnaik732

If this breaks through the middle of the Bollinger band, could go to 23.8k