What's happening right now on the 2 week chart merits a TA.
Stochastic on the 2 week about to do something very rare, we have 14hours left of the 2 week candle to close but if it closes with a cross best buckle up.
Last three times we had massive moves to the upside , the amount of momentum required to get a cross in 2 week is massive , we only had three in four years.
On the lower time frames like the daily Bitcoin has had three bearish drives of divergence and its recovered This shows major strength we could be in for a surprise.
In one of my last TAs I go over the theory on where this rally would stop and pullback using usdt chart , have a look below
We are now very close to that trendline .
So mixed signals for now , daily on the USDT chart saids that there is major support on that trendline but this 2week stochastic cross cannot be ignored "IF" it crosses in 14hours from this TA and I very much think it will cross ,prepare.
A while back I posted this TA below
Called it the dream run of 2013 ,where we corrected 75% just like now and then went on to put cycle high , well click play on that TA , as crazy as it sounds bar pattern is playing out plus we have a 2 week cross.....
Expect the unexpected with Bitcoin,been in this market long enough to know that anything is possible with Bitcoin , human emotion is volatile.
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Clear cross
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Cross nearly the same time last 2 cycles , about 50days after first Bitcoin capitulation
24 sept' 2018 Plus you need an actual cross followed by 1 or 2 periods of the 3 KDJ curves spacing again.
Sporia
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@GreenValleyTrading, yep that was indeed a cross major difference is it was before capitulation and not after .
wargolynch
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@Sporia, With a 75' like inflation, -75% since ATH and less volumes than any previous capitalisation on this dump, nothing is telling us that was this bear market's actual capitalisation. A symmetrical triangle is not a valid argument, it's just a pattern for which the price target was already almost reached.
Sporia
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@GreenValleyTrading, not even clicked the link have you?
wargolynch
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@Sporia, I'm just answering to your comment, in which you're clearly implying that was the capitalisation.
Sporia
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@GreenValleyTrading, The comment includes a TA.....
wargolynch
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@Sporia, The introduction is often the most important part! 1 => Because two previous bear markets ended up with a symmetrical triangle does not mean it will happen again. 2011 was not actually. 2015 yes but then it dumped again to form a macro double bottom. 2018 yes but you'd better have waited for the macro ascending triangle to all in x100! 2 => As the market capitalization grows, cycles are evolving and past indicators could now serve differently, especially with a 10yo asset. Old assets like SPX and Gold are basically evolving on the monthly MA300, but BTC never even retested the monthly MA100. 3 => Your lower diagonal supports previously had multiple lower points, whereas May-July 2021 only counts as one. 4 => It is a lagging indicator and this is a good thing. Still, same thing as 2. 5 => As the cryptomarket is evolving, USDT is becoming less and less important with the emergence of USDC and other stablecoins. But most importantly, it's completely normal for stablecoins to grow exponentially as they're not only serving hedging traders anymore. They can be used for payments, DeFi, etc... 6 => Yes but on Binance Futures there is still a higher % of long individual accounts than % of long total positions weight. It tells us the richest whales are shorting more intensively than retail. 7 => CME futures opened right at the 2017 ATH, so it only makes sense previous gaps were all closed knowing BTC is going up long term. Expect this phenomenon to lose its correlation in the future. But most importantly, their volumes were and still are low when compared to other spot and derivative markets, meaning it can not be a causal phenomenon unless big actors were elaborating a giant lame joke. I advise studying GBTC which is more populated and relevant! 8 => Same as 3. I may add the KDJ is now lacking a macro bullish normal divergence.
To conclude, the daily chart is now evolving in a potential bear flag.
Sporia
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@GreenValleyTrading, everyone has there own methods , thanks for you input i will stick to mine since I new the bottom was coming months before , i even sold 75% of everything at the top this year and opened a short than ran down straight to 25k in may , biggest trading profit this year for me, next event for Bitcoin is months away , bought btc 18k and 5.25 link orders were set 1 month before on coinbase , I have been hitting home runs all dam year so i will continue using my methods until it fails lol.
USDT is useless yeah, well i still continue to win on it time and time again
Plus you need an actual cross followed by 1 or 2 periods of the 3 KDJ curves spacing again.