BITCOIN - BTC, Crypto - Short to Long (fair Value level)
I don't often trade crypto as spot, but as an investment company, we have crypto holdings.
Bitcoin has entered the world of investments at a professional level & in doing so, the moon is a likely scenario as they say. But to do that on a professional level, much like any other chart, a fair value needs to be obtained for the bigger players to keep their interest.
With that being said - a current fair value is around $26,500 so we could expect a drop to this region before it shoots back to its $40k + high. and possibly $50, 75 or even 100k being its next slowdown.
In investing terms - you will have the HODLERS, you will have the lucky, you now have the inexperienced and the pro's coming at the same pace. The Pro's and the inexperienced where probably the ones who took out the $170Bn in market value in 24 hours. The guys who jumped in at 35k+ plus saw no way of it slowing, and that's where the drop set in.
If we now compare to DXY, Gold and SPx as it's aligned to all of these areas in some ways. The DXY is expected to rise, then drop again to create a weekly Elliott 5th wave. COT data supports this.
The issue is - that retail sentiment is short things like Euro currently pushing DXY strength, which is a catalyst for BTC drops. This is also supported by stochastics on higher timeframes showing overbought positions and a drop on the ATR volume as a whole. Games will be played and money will be made.
But you need to be careful buying at the wrong price.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Bitcoin has entered the world of investments at a professional level & in doing so, the moon is a likely scenario as they say. But to do that on a professional level, much like any other chart, a fair value needs to be obtained for the bigger players to keep their interest.
With that being said - a current fair value is around $26,500 so we could expect a drop to this region before it shoots back to its $40k + high. and possibly $50, 75 or even 100k being its next slowdown.
In investing terms - you will have the HODLERS, you will have the lucky, you now have the inexperienced and the pro's coming at the same pace. The Pro's and the inexperienced where probably the ones who took out the $170Bn in market value in 24 hours. The guys who jumped in at 35k+ plus saw no way of it slowing, and that's where the drop set in.
If we now compare to DXY, Gold and SPx as it's aligned to all of these areas in some ways. The DXY is expected to rise, then drop again to create a weekly Elliott 5th wave. COT data supports this.
The issue is - that retail sentiment is short things like Euro currently pushing DXY strength, which is a catalyst for BTC drops. This is also supported by stochastics on higher timeframes showing overbought positions and a drop on the ATR volume as a whole. Games will be played and money will be made.
But you need to be careful buying at the wrong price.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Comment:
as expected, the first OB target has been hit. I would like to see a drop under $30,000 to target the next Imbalance level. But we will see.
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Master the Art of Trading: amzn.to/3nUfB9r
Prop firm partners (FTMO)
shorturl.at/hBEQ4
