BITCOIN - Crypto Is Leaving While The Naysayers Rant 🚀🦧🍌
Well well well...
This is a very interesting pre week pre-market!
Highlights today are MATIC up 24%
and APE now up 25%
All while (lbf) BTC is not doing much. A little impulse within a corrective channel but nothing to write home about really.
And this is why it was important to get in alts early because they are going to be GONE GONE GONE over the horizon by the time BTC finally gets around to pumping 😄.
What is very interesting though looking at MATIC for example, is that if this is only a bounce retracement to then go lower then really it should not go passed 0.786, but as you can see here with BTC doing nothing its almost at 0.5 already!
What does this mean?
Well it means we may be looking at new highs for some, perhaps many alts in this bull rally! 😵
Just to go into BTC chart briefly- I have overlaid Nasdaq Futures (for pre-market) and as you can see BTC is effectively moving with NQ1 here.
Although its had some impulse BTC is still in a choppy corrective channel and so I wouldn't be surprised if it touches the demand trendline again which may allow better entries. I'm not actually buying BTC or ETH since there are crypto related stocks that I can buy that work just as well.
Once BTC gets back above the long term 1:1 @ 23K then it should get pumping I think. Then in retrospect this area will have printed a shakeout reversal pattern on higher time frame.
Also worth noting is that BTC is spending more time back above the log 0.382 retracement from the previous low to high and that is its typical bottom.
And there is a case for swinging alts into BTC when it pumps but i'll just buy more BITO (ProShares BTC ETF) when that happens and let my alts do their thing.
I'll be making threads on more crypto related stocks soon.
And just a little beef to close. Have you noticed how this alt move has completely slipped under the radar of many BTC bears, still charting the next wave down and how obvious it is 😄?
Not advice.
This is a very interesting pre week pre-market!
Highlights today are MATIC up 24%
and APE now up 25%
All while (lbf) BTC is not doing much. A little impulse within a corrective channel but nothing to write home about really.
And this is why it was important to get in alts early because they are going to be GONE GONE GONE over the horizon by the time BTC finally gets around to pumping 😄.
What is very interesting though looking at MATIC for example, is that if this is only a bounce retracement to then go lower then really it should not go passed 0.786, but as you can see here with BTC doing nothing its almost at 0.5 already!
What does this mean?
Well it means we may be looking at new highs for some, perhaps many alts in this bull rally! 😵
Just to go into BTC chart briefly- I have overlaid Nasdaq Futures (for pre-market) and as you can see BTC is effectively moving with NQ1 here.
Although its had some impulse BTC is still in a choppy corrective channel and so I wouldn't be surprised if it touches the demand trendline again which may allow better entries. I'm not actually buying BTC or ETH since there are crypto related stocks that I can buy that work just as well.
Once BTC gets back above the long term 1:1 @ 23K then it should get pumping I think. Then in retrospect this area will have printed a shakeout reversal pattern on higher time frame.
Also worth noting is that BTC is spending more time back above the log 0.382 retracement from the previous low to high and that is its typical bottom.
And there is a case for swinging alts into BTC when it pumps but i'll just buy more BITO (ProShares BTC ETF) when that happens and let my alts do their thing.
I'll be making threads on more crypto related stocks soon.
And just a little beef to close. Have you noticed how this alt move has completely slipped under the radar of many BTC bears, still charting the next wave down and how obvious it is 😄?
Not advice.
Comment:
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Comment:
Looks like BTC may break out here and pass the long term 1:1 fib. If it does and it gets frothy then resistance from the previous collapse is the next landmark.
Comment:
Well BTC has busted through the 1:1 here and already a big impulsive weekly candle printing here like a jack out the box when hardly anyone was expecting it, but suddenly it appears the train has departed.
BTC chart is currently just a more sluggish TOTAL2 which had already turned impulsive. See my write up on that if you are so inclined.
And if you haven't written out your postcards to all your favourite bears waiting for lower lows, then this would probably be a good moment to do just that 😄😸.
Resistance from previous selling climax coming up but I may not swing anything from here, just let it ride - we'll see how it goes.
BTC chart is currently just a more sluggish TOTAL2 which had already turned impulsive. See my write up on that if you are so inclined.
And if you haven't written out your postcards to all your favourite bears waiting for lower lows, then this would probably be a good moment to do just that 😄😸.
Resistance from previous selling climax coming up but I may not swing anything from here, just let it ride - we'll see how it goes.
Comment:
Here comes Bitty.
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Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Get the "heads up" at critical moments - don't lose your shirt.
$50 per month 👍🏻.
Contact: t.me/dRends35
