Huge BTC pullback overextended. Bullish Reversal in April.
Welcome one and all to my bitcoin futures bullish reversal. Since the start of Bitcoin futures we have been very bearish and it makes sense as they pushed the price up to near 20k and opened futures, this really gave them a great opportunity to short as full on FOMO and foolish trading was occurring around this time.
2018 was a fantastic opportunity for some as they may have either sold all and waited for a better time or swung on oversold opportunities. As you can see leading to November 2018, there were numerous huge swings starting with a 94.25% swing from February to March. After that we had a 48.16% swing from June to July. Followed by a 26.97% swing from August to September. After that it was mostly sideways until the BIG drop in November.
We appear to have hit a low of 3120 in December and have been slowly moving upward since then in a mirror like fashion. Once again the swings are getting smaller and smaller. We are running out of time with this trend though so I expect mostly sideways until April where we will then probably see a "breakdown" of the trend before the big move up to 5100. If you notice in November there appeared to be a period on November 7th where we had broken the downtrend but reality set in and then a major move downward came days later. This time around I would expect us to fall near late march to the MA50 which will be roughly 3700 giving one last chance to buy before a very nice 26% move and more sideways.
What is important about this is this is ALT season based on my charting. As well as I expect Bitcoin to do during this period the Majors like ETH, LTC, BCH, XRP, ZEC, ETC that are low against BTC will absolutely thrive in this period.
I feel really great about this call but will leave it up to you guys if you want to believe in it or not. Best of luck traders!
2018 was a fantastic opportunity for some as they may have either sold all and waited for a better time or swung on oversold opportunities. As you can see leading to November 2018, there were numerous huge swings starting with a 94.25% swing from February to March. After that we had a 48.16% swing from June to July. Followed by a 26.97% swing from August to September. After that it was mostly sideways until the BIG drop in November.
We appear to have hit a low of 3120 in December and have been slowly moving upward since then in a mirror like fashion. Once again the swings are getting smaller and smaller. We are running out of time with this trend though so I expect mostly sideways until April where we will then probably see a "breakdown" of the trend before the big move up to 5100. If you notice in November there appeared to be a period on November 7th where we had broken the downtrend but reality set in and then a major move downward came days later. This time around I would expect us to fall near late march to the MA50 which will be roughly 3700 giving one last chance to buy before a very nice 26% move and more sideways.
What is important about this is this is ALT season based on my charting. As well as I expect Bitcoin to do during this period the Majors like ETH, LTC, BCH, XRP, ZEC, ETC that are low against BTC will absolutely thrive in this period.
I feel really great about this call but will leave it up to you guys if you want to believe in it or not. Best of luck traders!
Trade active:
Looking great. Breakout confirmed imo.
Trade closed: target reached:
Nailed it.