LisaNEdwards
Long

IS BITCOIN ABOUT TO MAKE HISTORY?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Dear Traders and Hopeaholics alike,

The HUGE BULLISH move on April 13 ( AUST ) 12 the rest of the world - 2018 saw the start of a minor bull run to $10,000. The price exploded $1,200 with a green engulfing candle swallowing every short open on all exchanges. We have been hovering around the ATH resistance since early May 2020, dipping our toes on the other side only to have breakout traders crying over their 2-minute noodles after yet another liquidation. Most traders have given up HOPE of a new bull run, posting their bear charts with each resistance drop .

Is Bitcoin about to take us to the MOON?
CAN HISTORY REPEAT?

I believe BTC is about to make history with a bigger price movement candle than April 2018... why? We have the largest amount of FUTURES releasing EVER! A total of 930 MILLION releasing... I am predicting a $1,500-$2,000 candle!
Half Yearly
Monthly
Bi-Monthly
Weekly
Daily

What does this mean for the market?
It will showcase CRYPTOCURRENCY again to the world. This is perfect timing, with traditional markets imploding, what better way to showcase a relatively new, and growing market, to a new ecosystem of traders, investors and dabblers alike. HODLers will be vindicated for their market savvy DOLLAR COST AVERAGING.

HEADLINES for news outlets worldwide will be BITCOIN BITCOIN BITCOIN!!!

But again I want to reinforce this as the self-proclaimed President and Founder of HOPEAHOLICS ANONYMOUS (or HA for short) I give you BTC 16K annnddd NEW ALL TIME HIGH of 21K :). And how and why right now they are completely possible!

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NOW ASK YOURSELF THIS - IS THIS SATIRE OR ENTIRELY POSSIBLE?

I'll let you make that decision for yourself, as you are pushing the buttons. BUT let me tell you this... at HOPEAHOLICS ANONYMOUS and in my world... ANYTHING IS POSSIBLE!!!

SHOOT FOR THE MOON - EVEN IF YOU MISS YOU'LL LAND AMONG THE STARS !

THE TECHNICAL STUFF

BULLISH PIVOT $8422
PATTERN CONFIRMATION PIVOT $10,700
Current supports $9,147 / $8,845 /
PATTERN BREAK $7,779

Elliott Wave pattern currently in corrective ABCDE/ ABC 4th wave (we don't always get the DE) about to enter the 5th wave.

**********************************************

If you are unsure of direction or feel you are over trading I have a moto. IF IN DOUBT SIT IT OUT! There is no shame in not being in a trade. Stick to your game plan, wait for a set up to be confirmed, and ONLY take a trade if it all aligns.

So please I welcome your comments and CONSTRUCTIVE FEEDBACK - ALL HATERS WILL BE FLAGGED AND REPORTED!
And remember, there is NO RIGHT OR WRONG in trading - just money management!

REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION
(minimize your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!

<3 Lisa

DISCLAIMER:

The Legal stuff - I'm not a financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...

PS make sure you give me alike, that way you get updates as I post them.... :) <3







❣️Lisa N Edwards❣️
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Comments

The crossing of those MA's are a VERY hopeful signs to me, however they are lagging indicators and we're likely to see the death cross of the 20 day and 50 day MA play out first which I personally think will complete the triple top and set us up to complete the inverse head and shoulders. I think that is where we will see this golden cross kick in and send us blasting into lunar orbit. I would love to see Bitcoin and the crypto market decouple from the S&P but I think this next market crash is going to drag down crypto with it. Again to me this is great news because I am sitting on the sideline waiting to re-enter into new low positions. But good catch, I had not previously noticed that golden cross. :D
+2 Reply
@nemaconz, Great thoughts! 300Million in tether was printed yesterday, so I agree your pattern is very possible and an alternate I have looked at. I just really believe this time now is the time to showcase crypto to the world
+1 Reply
@nemaconz, Inverse head and shoulder looks very possible. But the question to us is whether the next drop (after the 5th wave) will be a healthy correction or trend switching drop. It might depends on the magnitude of SPX decrease. We've had both correlated and non-correlated periods in the past between SPX and BTC. The current situation is looking more and more similar to May last year when SPX corrected 6-7% and BTC increased 80%.

+1 Reply
nemaconz Phi-Deltalytics
@Phi-Deltalytics, Agree with the correction vs trend reversal question, I don't think there is enough data to support how deep this will go. For me I have little doubt it will drop, so I have placed my buys at various levels that should allow me to capture at least some great entries, some are ambitious but for me this is the time to be bold because I plan on holding from these positions for the long haul unless some spectacular set up presents itself that would give me a deal for swing trading I couldn't resist. And I think you have a fair point about BTC and SPX decoupling at times, that being said I suspect that during the next downturn if BTC is going to decouple it will still at least have a flash crash that will reverse as SPX continues to tank. But if I am wrong and we break out above the range and close I'll re-enter with a stop loss. For me personally I see far more bear signals than bull and the with shorts absolutely dwarfing longs right now and Q2 closing tomorrow I think we're primed to drop hard before we load up the rocket ships to kick off the next bull market.
+1 Reply
@nemaconz, actually it is the short bias flowing around that's giving me more confidence for the bull side. Lots of BTC actions seem very manipulated and they often move against the retail market bias... Anyways, let's see how Q2 closes. I'm currently bearish on SPX and bullish on BTC. A very odd place to be in...
+1 Reply
LisaNEdwards Phi-Deltalytics
@Phi-Deltalytics, all BTC action is manipulated. SPX DJI both bear and BTC and crypto Bull for sure
+2 Reply
nemaconz Phi-Deltalytics
@Phi-Deltalytics, When we approach critical junctions it gets hard to make the call between dump and pump. June of last year when the bears came out there were still these permabulls who insisted despite the bearish signs we were gonna take off again to a new ATH. Now that being said, it had followed a parabolic movement which we have not had this time around, while it was a fast recovery it was not parabolic and I find myself very conflicted because I don't want to be falling for my own confirmation bias and I try to remain as objective about my TA as I can, guess we gonna see tomorrow.
Reply
LisaNEdwards Phi-Deltalytics
@Phi-Deltalytics, My thoughts would be after wave 5 completes and then we blast off :)
Reply
Phi-Deltalytics LisaNEdwards
@LisaNEdwards, are you referring to the one at 11k or ATH?
Reply
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