It seems we are coming to the end of this range, in this idea I will explain why I think we are in an accumulation range.
Comment:
Because of the tight range with not much volatility I'm more and more thinking we are in a accumulation phase where market makers and whales are filling their bags and opening up long positions. Will get into detail later.
Option nr1
We are in phase B of wyckoff schematic 1 and we still have a downward move to come, this move will likely go to 6500-6300. There we will see lot of fomo sellers while market makers are filling their positions. That dip will be the spring of a new uptrend.
Option nr2
We are in phase C of schematic 2, this means we may have one more dip down to the 7250-7100 region. Or we already have had that dip and could go higher, creating another LPS.
Well how do we know which one is the one, 7000 dollar level is key in this.
If we dip back down their need to be two boxes checked, filling of orders on spot exchanges GDAX and BINANCE and a close above that level again in doings so creating a wick to the downside.
Option nr1
We are in phase B of wyckoff schematic 1 and we still have a downward move to come, this move will likely go to 6500-6300. There we will see lot of fomo sellers while market makers are filling their positions. That dip will be the spring of a new uptrend.
Option nr2
We are in phase C of schematic 2, this means we may have one more dip down to the 7250-7100 region. Or we already have had that dip and could go higher, creating another LPS.
Well how do we know which one is the one, 7000 dollar level is key in this.
If we dip back down their need to be two boxes checked, filling of orders on spot exchanges GDAX and BINANCE and a close above that level again in doings so creating a wick to the downside.
Comment:
Right now I'm in favor of Option nr2.
Why?
1# buy back on that recent dip o 7050.
2# Orderbooks are layered on a couple of exchanges, all bid orders in that range.
3# Lack of limit selling past week.
4# Hash ribbons indicator printing a buy
Why?
1# buy back on that recent dip o 7050.
2# Orderbooks are layered on a couple of exchanges, all bid orders in that range.
3# Lack of limit selling past week.
4# Hash ribbons indicator printing a buy
Comment:
Comment:
Layerd ordersbook
sidenote: orders need to be filled to be validated.
Binance and CB orderbook
imgur.com/a/3nBPUQ1
sidenote: orders need to be filled to be validated.
Binance and CB orderbook
imgur.com/a/3nBPUQ1
Comment:
We also have a wedge we need to break out of coming weeks.
We also have a wedge we need to break out of coming weeks.
Comment:
Opportunity could be the filling of the CME gap, which is partly filled at the moment.
LTF this is what I'am looking for
Opportunity could be the filling of the CME gap, which is partly filled at the moment.
LTF this is what I'am looking for
Comment:
Alright lets dive deeper into the matter.
On 31dec-01jan the FED is going to inject liquidity into the market, this injection of liquidity could weaken the dollar and make its price move down.
As you see the dollar recently fell out of its rising wedge pattern and is making a move to the downside, a retrace to the .618 level is in the realm of possibilities.
What does this matter to bitcoin you ask? Well lets take a look.
On 31dec-01jan the FED is going to inject liquidity into the market, this injection of liquidity could weaken the dollar and make its price move down.
What does this matter to bitcoin you ask? Well lets take a look.
Comment:
Some correlation, last bull run also got fueled by the dollar dropping.
Market is very young and correlation is hard to verify but it should function as another catalyst to push btc up, if so it will at least increase the probability.
Some correlation, last bull run also got fueled by the dollar dropping.
Market is very young and correlation is hard to verify but it should function as another catalyst to push btc up, if so it will at least increase the probability.
Trade active:
10% in
Comment:
On-chain activity bitcoin
cdn.discordapp.com/a.../EM5sW1oUEAAPq7m.png
cdn.discordapp.com/a.../EM5sW1oUEAAPq7m.png
Comment:
cdn.discordapp.com/a...58327051/unknown.png
First filling of a GDAX order just happened after a long time mia of the cb whales
750k limit buy at 7135
First filling of a GDAX order just happened after a long time mia of the cb whales
750k limit buy at 7135
Trade active:
40% in
Comment:
cdn.discordapp.com/a...40536630/unknown.png
From last night, price dumped into Bitmex limit long positions
From last night, price dumped into Bitmex limit long positions
Comment:
Bitcoin Difficulty Ribbon.
When the ribbon compresses, or flips negative, these are the best times to buy Bitcoin. The ribbon consists of simple moving averages on mining difficulty so we can easily see the rate of change in difficulty.
imgur.com/a/LuQ5DNc
When the ribbon compresses, or flips negative, these are the best times to buy Bitcoin. The ribbon consists of simple moving averages on mining difficulty so we can easily see the rate of change in difficulty.
imgur.com/a/LuQ5DNc
Comment:
Alright lets sum up the reasons to be bullish:
1. Accumulation range, evidence of market makers limit buying in this 7300-6900 range.
2. Hash ribbons indicator printing a buy, price usually follows in 2-4 weeks.
3. Falling wedge on HTF which we need to break out of in the coming weeks.
4. Prospect of falling dollar.
5. Bitcoin difficutly ribbon compressing again, price usually follows after 2-4 weeks.
1. Accumulation range, evidence of market makers limit buying in this 7300-6900 range.
2. Hash ribbons indicator printing a buy, price usually follows in 2-4 weeks.
3. Falling wedge on HTF which we need to break out of in the coming weeks.
4. Prospect of falling dollar.
5. Bitcoin difficutly ribbon compressing again, price usually follows after 2-4 weeks.
Comment:
Avg entry right now is 7135.
Looking to add the other 60% on a move down, might get all the way down to 6900.
Avg entry right now is 7135.
Looking to add the other 60% on a move down, might get all the way down to 6900.
Comment:
Lets bring some good news into this year... 2020 is going to be the one
Comment:
Bounce of LPS at 6850
Bounce of LPS at 6850
Comment:
Something I've been working on.
If this trend confirms it will explain it in a next idea
Something I've been working on.
If this trend confirms it will explain it in a next idea
Comment:
Its derived from an idea that there is positions opened above the daily open in a short term range/pause in trend. After that there is a manipulated move which creates liquidity and trappes longs/shorts. It has to do with fakeouts and liquidity just being above recent highs and lows
Comment:
I hope everybody is long.
Forgot to update this.
Im still long and added to my position on the pullback to the 21ema 4h
I hope everybody is long.
Forgot to update this.
Im still long and added to my position on the pullback to the 21ema 4h
Comment:
Im looking at 7750-8000k for my TP, 7770 has 500btc sell binance and 8000 has 500btc coinbase. It would also line up with taking it to an old range high
Im looking at 7750-8000k for my TP, 7770 has 500btc sell binance and 8000 has 500btc coinbase. It would also line up with taking it to an old range high
Comment:
Looking what will happen at 7750. Could be a short opportunity
Comment:
Shorting here 7750-7780. binance wall 650 btc sell side dont expect it to break.
Comment:
CLosed the short at break even... too dangerous
TP my long at 7740 $$$
everybody was so wrong shorting this market ... hope you learned your lesson
TP my long at 7740 $$$
everybody was so wrong shorting this market ... hope you learned your lesson
Comment:
IN DOUBT, STAY OUT
Comment:
Another run up might be coming
binance is trailing buy walls big time
cdn.discordapp.com/a...AAAABJRU5ErkJggg.png
-7800 200btc, -7700 150 btc - 7650 100btc - 7500 300btc
binance is trailing buy walls big time
cdn.discordapp.com/a...AAAABJRU5ErkJggg.png
-7800 200btc, -7700 150 btc - 7650 100btc - 7500 300btc
Comment:
walls got put up 1 hour ago they are there to prevent price from dropping, they are doing this since 7000.
Going long here
Going long here
Comment:
cdn.discordapp.com/a...AAAABJRU5ErkJggg.png
Wall got reduced 350-110 sell.
30% lev long here, looking at the 21 ma 1h to add more
Wall got reduced 350-110 sell.
30% lev long here, looking at the 21 ma 1h to add more
NR1
imgur.com/a/DV3RFpV
NR2
imgur.com/a/rWurDpZ