AlanSantana

πŸ…±οΈ Bitcoin Is Headed Towards $180,000!!! (πŸ‘‘ Altcoins Update)

Short
AlanSantana Updated   
INDEX:BTCUSD   Bitcoin
Let's start with a question: Do you agree with the title of this trade idea?
"Bitcoin Is Headed Towards $180,000!!!"

Do you agree?

The Bitcoin network went live January 2009, after a major financial crisis... It has been growing since. Both, Bitcoin the network as well as bitcoin the Cryptocurrency.

βž– What does the future has in store for us?
βž– What does the future has in store for Bitcoin?
βž– What to expect?!

We can expect market crashes, corrections, down swings, drops... But always growth long-term.

πŸ‘‰ Long-term, Bitcoin is going up!

The Altcoins market has more to give, we will see tons of green but corrections are always lurking around and tend to happen in-between.

Ok, here is the thing, Bitcoin is set to continue growing long-term but short-term, anything can happen, always, at all times, by surprise or no surprise because we have multiple days red.

The RSI peaked 25-October but Bitcoin continued to go up... Bullish potential at the bottom, bearish potential when on top.

Bitcoin's bearish potential keeps growing and growing everyday.

This is not financial advice.
Remember to do your own research...

Thanks a lot for your continued support, you are appreciated.
Thanks a lot for reading.

See you on the next one.

Namaste.
Comment:
Both ~34,000 and ~30,000 looks pretty interesting... Strong support!
Comment:
Looking up close, super-short-term, Bitcoin 1H timeframe is producing a double lower high with dropping volume:
Comment:
Short-term bearish signals have been neutralized, related to 19-Nov.

The lower low compared to 15-November is still in place.
The bears continue with dominion of this chart.

Things can change though... Watch-out.
Stay tuned.
Comment:
The bearish bias is becoming weaker by the hour... Can the bears keep up the pressure? Or will the bulls turn things around in less than 24 hours?

The bears are shaking...

Namaste.
Comment:
So far, 30 million worth of shorts liquidated in the past 24 hours vs 10 million worth of longs.

The bears are still ahead...

Follow the chart!
Comment:
The same signals we used to support a bullish bias, can also be used in reverse.

The medium size and smaller Altcoins have more to give, this is a different topic.
Bitcoin and the TOP Altcoins move together; positive correlation.

First, BTCUSD bearish bias continues...

Things can change, but it is pointing towards lower prices now, based on current chart signals.

Here is Solana (SOLUSDT)

We have a rejection.
EMA10 still holding but this is bearish nonetheless.
Prices would need to close daily above the last high for the potential to resume being being bullish.
Volume is dropping.

Does technical analysis work?
It does if can predict the rise and also the drop.

Namaste.
Comment:
It seems it might turn into a flash crash... The good news would be the fact that a flash crash leads to the resumption of the bullish wave much faster.

Whatever low is hit, we get a lower low in a matter of hours or days and then the bullish move is resumed.

We have to wait and see though but this isn't likely to go as long as July/Sept or earlier this year... It might be faster for another leg up before the major pre-halving correction. This is all speculation of course.

Right now the chart is pointing down and we always go with the chart.
If the chart changes, we adapt and also change.

Thanks again for your continued support.
Comment:
The $20,000-$21,000 price range should also be considered on a flash crash scenario.


A ~50% drop would push prices towards 18/19,000... But such an event is highly speculative, I believe impossible to predict but it is wise to be ready.

If it does happen, it can happen really fast and affect the entire market.

Even those pairs with great charts would suffer a major flash crash followed by sustained long-term growth. Some followed by immediate ultra-fast growth.

Other than that, the short is still in place and play-out normally as well.
Just thinking out of the box here.

Namaste.
Comment:
It is still early since Bitcoin is trading near resistance.

I am sharing the full numbers for those interested in a short.
Remember, this is not for everybody.

Leveraged trading is high risk and for experts only.
You've been warned.

πŸ…±οΈ Bitcoin SHORT (6X | 213% Potential)

Market conditions can always change.
The chart can breakdown and that's why you see a stop-loss.

It can go up or down... Please do your own research before trading.
Here I share my opinion, experience and view of the charts.

Namaste.
Comment:
Bitcoin is set to close below EMA10; Follow me for a minute so we can dive into my original MA analysis.

This is what the action around the moving averages EMA10 and EMA21 reveals.
First, the bearish bias is fully confirmed and becoming stronger.
The bearish bias was present since I published this article which is the reason why I published; the chart signals.

9-Nov Bitcoin hits a high and then moves to test EMA10 and goes lower, EMA21 as support.

After bouncing perfectly at EMA21, light blue line on the chart, it moves back up but produces a lower high compared to 9-Nov.

Now Bitcoin is moving back below EMA10 and EMA50 at 33,400 is set to be tested next, but why?

The fact that the EMA21 as support bounce led to a lower high indicates that the bulls lost the battle.
Since we have a lower high, the next major moving average needs to be tested as support to see if it holds, in this case that's EMA50.

This is on the close short-term.

Let's go a bit further with the moving average analysis.

On a bounce at EMA50 how do we determine if Bitcoin will resume up or continue lower?

If the bounce at support leads to a higher high compared to 9-Nov, then the ensuing retrace would end as a higher low and thus Bitcoin can resume moving higher. On the other hand, if the bounce at EMA50 leads to a lower high compared to 9-Nov then Bitcoin is set to continue lower and the next drop would push prices towards EMA100, which here sits around 31,260.


This is how things are looking short-term... You can read the earlier comments or the lev. trade signals for more targets...

I'll keep you updated.

Feel free to boost to let me know you want more updates or leave a comment.

Thanks a lot for your continued support.

Namaste.
Comment:
Here we can see Bitcoin's dynamic around EMA10 on the weekly timeframe.

βž– Left side = bearish (below EMA10)
βž– Right side = bullish (above EMA10)


Now Bitcoin has been growing above EMA10 since late September with the last 5 weeks all closing green.

Bitcoin has only gone for more than 5 weeks straight green within major bull-markets.
We know a major bull-market can happen after the halving but not before.

Since we are not in a major bull-market, we can expect a correction to happen after the massive recovery phase that we just experienced. This is 100% normal and expected.

Bitcoin can drop to at least 33,000, in the best possible scenario based on current chart signals.
Depending on how this level is handled and how the market reacts, it can move lower, much lower.

For example, take into consideration the periods around September, June and March, in all three cases Bitcoin moved much lower than EMA10. Even in March when the weekly session closed above this level, the wick hit much lower .

In the case of September and June of this year, Bitcoin moved for 1.5 months (6 weeks) below this level.
Think what this can mean for the current chart/time period.

Now, the law of alternation is always affecting the market.
So if the last correction was complex and long in duration, the next correction can be simple and shot-term in duration.

If the last correction was based on sideways consolidation, the next correction can result in a fast and strong drop.

This is what I am getting by looking at this chart.

One final point. If Bitcoin fails to correct after major bad news, normal market cycles and such magnificent growth, it would be a great testament to its incredible strength but it would also mean that what follows the next high would be a massive blood bath. It is better to see a correction now that disappears right away, than having to see Bitcoin trading low for 6 months straight.

Namaste.
Comment:
When a support level breaks-down, it is normally tested as resistance to see if it holds.

Here Bitcoin can be seen facing resistance around EMA50, EMA10 and EMA21 on the 4th timeframe

Notice how the volume is high when breaking the support (red) and how volume is low when the bounce is taking place (green).

This can indicate that the drop is not over but we do have higher lows and lower highs, a type of consolidation phase which turn into distribution if we get a new low.

The 1h timeframe reveals some weakness:
Notice how the bounce ended in a Doji and before reaching EMA50.

Namaste.
Comment:
Somehow... I am not convinced.

Patience is key!
Comment:
Too early to call this one?

I am one of the group that says the pattern needs to form before it is valid, the Head & Shoulders, rather than anticipating it...


So far today we have a lower high compared to 9-Nov., but the day isn't over, the fight is not over... Bears and bulls are fighting; Who is going to win?

The chart signals are mixed and we have swings and shakeouts happening left to right.
Shorts and long traders being liquidated in the tens of millions USD every single day.

Bitcoin has been growing strong, really strong in the long, medium and short-term.
But after the 9-Nov peak everything started to shake.

2 Months growing is a lot.
What is shaking is the continued uptrend.
The volume continues to weaken... We are within an up-move and if there is doubt what is being doubted is the current move.

βž– Just as we go bullish when prices are low/near support;
βž– We become bearish at resistance after massive growth.

This is not the end though, everything goes.
But we have the numbers ready, we are active, we are live... Traders trade, there is always risk involved.

Some you will win, others you will lose, that's how it works.

When in doubt, sit it out.
Plan ahead. Diversify and the rest.

Whatever happens, keep coming back for more because opportunities are endless for those who keep trying and never give up.

Invest in yourself; Study, eat healthy, breathe deeply and do what it takes to reach your goals.

Are you bearish or bullish?

Share in the comments section below.

Namaste.
Comment:
We are still going with the flash crash theory, but we have to wait and see.
The bearish bias remains intact. The short is on!

Comment:
Two signals looking at the CME Bitcoin futures chart.
These two signals work to support our bias.

1) Falling window

We have a falling window.
The market tends to move in the direction of the window.
There is also an ultra-negative Doji on the previous session.

See here how the rising window leads to higher prices:
(The falling window leads to lower prices)

2) High volume, Negative Monday, Binance Hangover

To be honest, I forgot the second signal as I write these things live.
I became entertained writing the first one.

Ok... The volume is high today to start the week on a negative note.

Binance is facing problems, the biggest CEX, yet no effect on the price.
The effect is soon to come. Late effects or side effects...

Bitcoin hit a multi-year low November 2022.
Bitcoin has been growing for more than a year straight.

This can easily lead to a correction.

We have to wait and see.

Thank you for reading.

Namaste.
Comment:
Whatever is about to happen now can go into February 2024.
It is a rise (higher prices) until February next year and then the correction or is it a drop?

Actually, it varies wildly because the correction bottom can happen before just as it can happen after the halving.

πŸ‘‰ In 2024, we are likely to see the correction bottom happen before the halving due to many market factors all pointings towards a very strong interest in Bitcoin. So everybody will want to get over with this correction. So it can be fast and strong just so that Bitcoin can recover and grow long-term.

It is hard to predict the exact timing and levels but here is the general picture: We are about to enter a correction before sustained, long-term growth.

Give or take a day, a week or a month, here and there... The bigger picture stays the same.

We will have a strong 2024 after the "blood" and the rest is history before the next All-Time High takes place.

We have two very strong negative events taking place; Binance and the Bitcoin Spot ETF.
Negative short-term for the price of Bitcoin.
Both are positive long-term.

Namaste.
Comment:
"πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ πŸ’΅ 1,000,000,000 #USDT (1,035,027,500 USD) minted at Tether Treasury"

Watch-out.
Everything can suddenly change.
Comment:
πŸ…±οΈ Still Bearish? Let me explain...

I am neither bullish nor bearish but the chart has much to say. The market has much to share and even though my personal beliefs and opinions are secondary I will share those as well at the end.

Why call it bearish when all the technicals are bullish?
What is going on here?

Let's start by admitting that surely all of the charts technicals are bullish. We have rising prices, new highs, trading above the moving averages and so on. All of the classic signals we read and share daily, these are present in this chart. That's the technical picture.

In November 2022 when Bitcoin hit a multi-year low surely all of the technicals, all of the signals were extremely bearish. Multi-year low, trading below the moving averages, bearish cycle, bearish trend, bad news and so on but Bitcoin went ahead to produce a reversal that turned into a recovery that turned into a bullish cycle and here we are today.

Change can only happen from bearish to bullish and from bullish to bearish... Let me explain!

While the chart technicals are definitely bullish, things can always change. Change comes after a prolong period of seeing the same. Change is always present and at work, it can be happening behind the scenes though so it might not be visible on the chart.

The first thing is that we have to admit that the chart, the weekly chart, definitely shows a strong bullish bias. There is room for additional growth.

The level that is being challenged now as resistance is the level that back in early to mid 2022 worked as support, when prices bounced at 32,000 as Bitcoin was crashing down from 69,000, the same can happen in reverse. Bitcoin did move below 32,000 but before this happened a bounce from 32,000 to 48,000 took place. The entire phase lasted 105 days when Bitcoin broke below 32,000, the next level hit was 25k.

A strong support level now turned resistance; The first challenge of this range as resistance happened late October and this is the 6th consecutive week Bitcoin continues growing, on low volume.

These are some of the bullish technicals, let's consider the bearish potential, with potential being the key word.

When rumors started to surface about potential criminal charges on Binance we wondered if the authorities would wait for Bitcoin's bullish wave to end first or to drop the hammer right away. We don't know if the wave is over but we know they waited for more than four months and already dropped the hammer; this is a bearish signal.

The fact that Bitcoin has been growing for an entire year without a major correction is a warning for those who like to trade. It never moves straight up or straight down, it tend to move in waves.

When prices are set to grow, we see billions worth of stable coins move into the exchanges, to buy up Bitcoin and cheap Altcoins of course. Recently we saw 1B USDT printed but at this point we don't know if it will be used to produce a new move or to buy everything up after the correction shows up.

While this 1B came in, the influx of BTC, ETH and other major ALTS into the exchanges continues unabated, you know what this means. If you don't know, when crypto moves into the exchanges it means the whales are about to unload.

We have the halving event and the Bitcoin Spot ETF; Let's dive into both, we have the time.

The halving produces a correction, always, but it can happen before or after the event, the pattern varies here. The halving correction is due to miners selling their stacks to pay debt and costs, it needs to be done because their income is cut in half. After the halving, Bitcoin tends to grow, enter a bull-market and finally a bull-run and blow-off top (this time around) to end it all.

The Bitcoin Spot ETF is very easy to read.

1) Hype. There is so much hype... You know what the hype means? Think of "the Merge". Just remember the Ethereum Merge, ultra-hyped up event ends up in a crash. The Bitcoin Spot ETF is receiving the biggest ever bullish hype which means it is going to be a bearish event.

2) Money. They say billions and billions and billions and billions and more will be coming in due to these ETFs, really? Here is the thing, these ETFs, these "conventional trading vehicles" are not going to be selling Bitcoins to their clients, they are going to be selling shares, coupons, digits on a screen or what not. If they need Bitcoins they are buying it now or bought them long ago to later use as back-up for their customers funds. It is likely they have years of time to match their holdings to a 1:1. They can buy before the demand comes in when prices are cheap, or wait for a correction and buy cheap as well and earn twice as much. In fact, all these giants can work in concert to put massive pressure on the market through a gigantic short, even with the same customers fund, earn money on the way down and then buy at the bottom and match their clients deposits one to one.

Just keep in mind that they will not be selling Bitcoins, so there is no direct effect on the price or the effect can be retarded or it can happen in advance.

They can buy all their Bitcoins over-the-counter and other methods that are both hard to track and that won't produce an effect on market price. It is a complex game and it is not black and white.

Overall, none of this means much.
Bitcoin has been growing strong and people are super bullish, when this happens, prices drop.

Namaste.

Comment:
First half of the week green = second half red.

The monthly session closes today.

βž– The DXY turned bullish.
βž– Gold likely peaked.

βž– Bitcoin has an inverse correlation with the DXY.
βž– Bitcoin and Gold tends to move together.

Both bearish signals.

While we have these and many other signals, it is still early as prices are trading really high and near resistance, 7 weeks straight green.

It can all change in a day, but if it closes red today and a follow up happens tomorrow, prepare...

Closing the weekly session red can work as confirmation for the bearish bias. Not really confirmation but it becomes much stronger.

The monthly timeframe can't help us right now as the candle is neutral.
We can have first half of the month red, second half green.
We can have a red month or more but again, even with all the warnings the technicals are bullish and allow for additional growth.

Only when the bear is confirmed, the drop is in... Meanwhile, we follow the potential and wait for the market to decide if red or green.

Sometimes the next move is not decided and the market can have a period of adaptation to see what happens next. This can happen after strong growth, after a long bear market or in-between a consolidation phase.

The consolidation phase is when traders lose the most.
The whales, exchanges and market manipulators extract money from the gamblers with over-leveraged positions because they have no patience to either wait or hold.

There is no point in trading when nothing is taking place.
We buy at the bottom (November 2022, March 2023) and sell at the top of the bullish wave (November 2023).

Then we step back and consider our options once again.

If you set up targets more than 9 months ago and they all hit... It doesn't matter how things are looking now, you should take the profits and leave.

No need to jump right back in.
No need to make doubtful moves... If you earned big by taking advantage of great timing, great prices... Now you can wait for confirmation once the market moves.

When the picture is clear, as it was clear all throughout 2023... I will give you the best charts, the best Altcoins and you can easily agree with me.

When this phases is on, I get it, you can doubt... But remember, people wanted to kill me because I said prices were going to rise last year when the sentiment was low.

It all comes back around and we are at the same place.
Market sentiment is high and people are hating because this might be the end of the present wave.

The market moves in cycles... These cycles have waves.
Up and down, up and down, up and down... Forever!

Namaste.


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