I have been explaining my thoughts on BTC lastly here on tradingview, and today I thought is the perfect day to explain what I think could be happening next.
First of all, in order to trade like an institutional, the timeframe we need to analyze is the weekly, if you trade out of the key regions on the weekly, we have to know that we are trading out the regions where big sharks are under accumulation or distribution, so, here, we are looking for the next accumulation region. Fibonacci extension from the all time highs until the 6000$ psychological level, says the proper region where to start accumulating is the 2230$ and the Fibonacci extension fro the all time highs until the lower low before breaking the 6000$ level, is the 5750$ level. This Fib extension says that the region where to start accumulating is the 1900$ level. Concluding with this analysis we can know now, the region covered between 2250$ and 1900$ is a proper region where to start accumulating. But this is not all, because if we see the XAUUSD and the XAGUSD, and the SPX and NASDAQ, we see that after an all time high, comes to retest the most relevant previous high, which on BTC is 1300$-1000$ moreless. In addition, looking the commodities, and analyzing the past, we can point on the region where ETFs entered the market, letting the prices never come where they have entered. In conclusion, I can say, I am going to wait until institutionals bring the price until the accumulation region, where I will accumulate some, and then, I will be also focus on the ETFs news, in order to have accumulated some cryptos before it happens.
Last tip I would like to mention in order to take it in consideration is, BTC is very volatile, I expect a huge spike up, when ETFs enter the market, I do not expect a slow upside movement like on the US Indexes SPX and Nasdaq
Disclaimer: this is just my point of view, I dont feel responsible if some loss or win is made by your trading.
First of all, in order to trade like an institutional, the timeframe we need to analyze is the weekly, if you trade out of the key regions on the weekly, we have to know that we are trading out the regions where big sharks are under accumulation or distribution, so, here, we are looking for the next accumulation region. Fibonacci extension from the all time highs until the 6000$ psychological level, says the proper region where to start accumulating is the 2230$ and the Fibonacci extension fro the all time highs until the lower low before breaking the 6000$ level, is the 5750$ level. This Fib extension says that the region where to start accumulating is the 1900$ level. Concluding with this analysis we can know now, the region covered between 2250$ and 1900$ is a proper region where to start accumulating. But this is not all, because if we see the XAUUSD and the XAGUSD, and the SPX and NASDAQ, we see that after an all time high, comes to retest the most relevant previous high, which on BTC is 1300$-1000$ moreless. In addition, looking the commodities, and analyzing the past, we can point on the region where ETFs entered the market, letting the prices never come where they have entered. In conclusion, I can say, I am going to wait until institutionals bring the price until the accumulation region, where I will accumulate some, and then, I will be also focus on the ETFs news, in order to have accumulated some cryptos before it happens.
Last tip I would like to mention in order to take it in consideration is, BTC is very volatile, I expect a huge spike up, when ETFs enter the market, I do not expect a slow upside movement like on the US Indexes SPX and Nasdaq
Disclaimer: this is just my point of view, I dont feel responsible if some loss or win is made by your trading.