04/01/2024
My stance on Bitcoin is as follows:
Bitcoin is currently Neutral as we speak, it has no volume coming in, very little price action, seems reluctant to push forward at least near term. Why do I believe this?
- Whales, Financial Institutions, Hedge Funds and most of the Smart Money is sidelined with large cash positions.
- We are seeing overbought conditions both on
BTC
and
SPX
(S&P) Index in Stock Market.
** Click on my
SPX
Analysis Link above to compare or read my opinions on the market **
** Please keep in mind that as much as we may believe that Bitcoin is decoupled from the Stock Market and
SPX
/
NQ
more specifically we do need to accept and watch the nature of their similarity, price action and their overall impact on one another **
- $Bitcoin MUST push, break, close and HOLD with a weekly candle above $70,000 - $72k, consolidate and then continue with more volume and upside towards next target. I am seeing lots of uncertainty and weakness on both sides (Crypto & Stock Market)
- Pre-Halving extreme bullishness will cause a pre-mature Bullish momentum post - halving which will bring us to an early Top followed by drop then dead cat bounce 😺 for double top formation in towards Q2/Q3 2025 followed by Bear Market drop and consolidation.
Please keep in mind that this is only my opinion (Not Financial Advice), and you must do your own due diligence, the market is completely unpredictable, and my analysis could be invalidated by a black swan event, the FED's actions (Interest rate changes) and market manipulation, there are no certainties just probabilities.
** ALWAYS apply proper & safe trading / risk management practices and use ONLY what you can afford to lose **
Personal Overall Market Sentiment = Neutral
by: $TradeWolf$ 🐺
My stance on Bitcoin is as follows:
Bitcoin is currently Neutral as we speak, it has no volume coming in, very little price action, seems reluctant to push forward at least near term. Why do I believe this?
- Whales, Financial Institutions, Hedge Funds and most of the Smart Money is sidelined with large cash positions.
- We are seeing overbought conditions both on
BTC
and
SPX
(S&P) Index in Stock Market. ** Click on my
SPX
Analysis Link above to compare or read my opinions on the market ** ** Please keep in mind that as much as we may believe that Bitcoin is decoupled from the Stock Market and
SPX
/
NQ
more specifically we do need to accept and watch the nature of their similarity, price action and their overall impact on one another ** - $Bitcoin MUST push, break, close and HOLD with a weekly candle above $70,000 - $72k, consolidate and then continue with more volume and upside towards next target. I am seeing lots of uncertainty and weakness on both sides (Crypto & Stock Market)
- Pre-Halving extreme bullishness will cause a pre-mature Bullish momentum post - halving which will bring us to an early Top followed by drop then dead cat bounce 😺 for double top formation in towards Q2/Q3 2025 followed by Bear Market drop and consolidation.
Please keep in mind that this is only my opinion (Not Financial Advice), and you must do your own due diligence, the market is completely unpredictable, and my analysis could be invalidated by a black swan event, the FED's actions (Interest rate changes) and market manipulation, there are no certainties just probabilities.
** ALWAYS apply proper & safe trading / risk management practices and use ONLY what you can afford to lose **
Personal Overall Market Sentiment = Neutral
by: $TradeWolf$ 🐺