Two days ago, I posted how the market is tipping over to the bullish side. Today is a continuation of that post. If you want to look at my previous post, please take a look here.
The volume weights for today to recreate this exact chart are the following (enter it in symbol search).
BITSTAMP:BTCUSD*0.32+COINBASE:ETHUSD*0.284+FTX:SOLUSD*0.108+COINBASE:ADAUSD*0.066+COINBASE:AVAXUSD*0.065+BINANCE:DOGEUSD*0.048+FTX:SHIBUSD*0.039+COINBASE:ATOMUSD*0.027+COINBASE:JASMYUSD*0.023+COINBASE:WLUNAUSD*0.021
I was waiting for the high volume to come in, and we got that today. This week, we will most likely see higher and higher volume, further confirming the bullish strength.
There is a bit of bearish momentum in the current up wave; however, the reading on that isn't that strong, so I'm expecting only a slight retracement of the price of BTC and other major cryptos. From where we are, the price will drop about 2-3% on BTC. Already on the slight downturn, I see very strong hidden bullish strength. If you look at the recent past, the yellow area comes to mind. I think it's highly likely that we will see a similar price pattern emerge over the next couple of days. We will see price action that will cause bears to get trapped. That means minimal price retracement. Based on my market tilt analysis, the tilt is making steady progress towards the bullish side. I expect that title to complete this week, and we will be in a long bullish wave going up about 20% from where we are today.
I have had a few folks mention the correlation of BTC to that of the stock market like S&P and Nasdaq-100. You are correct; we see a high correlation of that to BTC/crypto. Past may not necessarily mean the future. I only trade the next immediate trade, and I don't go into predicting the whole year. Next, trade tells me that it's long and if we are to make a profit, buy low and sell high until we have reached the top. Is the top 50k, I don't know, but we will know when we get there. But we got roughly a 5% gain on majors, followed by many more gains on smaller altcoins as the next immediate trade once we see a minor retracement within the next 24hrs.
I will share my minor crypto analysis shortly.
The volume weights for today to recreate this exact chart are the following (enter it in symbol search).
BITSTAMP:BTCUSD*0.32+COINBASE:ETHUSD*0.284+FTX:SOLUSD*0.108+COINBASE:ADAUSD*0.066+COINBASE:AVAXUSD*0.065+BINANCE:DOGEUSD*0.048+FTX:SHIBUSD*0.039+COINBASE:ATOMUSD*0.027+COINBASE:JASMYUSD*0.023+COINBASE:WLUNAUSD*0.021
I was waiting for the high volume to come in, and we got that today. This week, we will most likely see higher and higher volume, further confirming the bullish strength.
There is a bit of bearish momentum in the current up wave; however, the reading on that isn't that strong, so I'm expecting only a slight retracement of the price of BTC and other major cryptos. From where we are, the price will drop about 2-3% on BTC. Already on the slight downturn, I see very strong hidden bullish strength. If you look at the recent past, the yellow area comes to mind. I think it's highly likely that we will see a similar price pattern emerge over the next couple of days. We will see price action that will cause bears to get trapped. That means minimal price retracement. Based on my market tilt analysis, the tilt is making steady progress towards the bullish side. I expect that title to complete this week, and we will be in a long bullish wave going up about 20% from where we are today.
I have had a few folks mention the correlation of BTC to that of the stock market like S&P and Nasdaq-100. You are correct; we see a high correlation of that to BTC/crypto. Past may not necessarily mean the future. I only trade the next immediate trade, and I don't go into predicting the whole year. Next, trade tells me that it's long and if we are to make a profit, buy low and sell high until we have reached the top. Is the top 50k, I don't know, but we will know when we get there. But we got roughly a 5% gain on majors, followed by many more gains on smaller altcoins as the next immediate trade once we see a minor retracement within the next 24hrs.
I will share my minor crypto analysis shortly.
Comment:
I forgot to mention. Between BTC and ETH, ETH has the most bullish strength. It will make bigger waves up when the price starts to go up.
Comment:
I have an update. Here you go.
Momentum is your friend. Think beyond the box, expand your reality and you will be ahead of the trend.
