FOMC announcement is coming in soon and most of the FED aware trading community (not hodlers) think the financial world is on the brink of catastrophic disaster. And who could blame them, that is what the news has been forcefully pushing.
But what they don't seem to be shouting from the roof tops is that Congress has already raised the debt ceiling 78 times since 1960 😸.
home.treasury.gov/po...l-service/debt-limit
On the chart is what we have been looking at today and if you watched my previous video linked below you'll know the importance of RSI in consolidating phases.
Watch out for something similar to the 2019 SRP (shakeout reversal pattern) probing below the consolidating range. That fear trap would have caught out many traders who would have unwittingly hopped out of the bull phase to miss a wild move up.
Also interesting that the 200 day MA intersected exactly in the same area.
Check my US10Y thread linked below - it is critical that US10Y does not pump for crypto continuation and potential bull market and there could be the first bearish cracks appearing today, but FOMC is being announced in just over an hour which will probably bring a lot of volatility and potentially shake things up so we will see...
Also don't forget to check my BTC video in my previous thread linked below if you haven't already.
We look at this type of content every day 👍🏻.
Not advice.
But what they don't seem to be shouting from the roof tops is that Congress has already raised the debt ceiling 78 times since 1960 😸.
home.treasury.gov/po...l-service/debt-limit
On the chart is what we have been looking at today and if you watched my previous video linked below you'll know the importance of RSI in consolidating phases.
Watch out for something similar to the 2019 SRP (shakeout reversal pattern) probing below the consolidating range. That fear trap would have caught out many traders who would have unwittingly hopped out of the bull phase to miss a wild move up.
Also interesting that the 200 day MA intersected exactly in the same area.
Check my US10Y thread linked below - it is critical that US10Y does not pump for crypto continuation and potential bull market and there could be the first bearish cracks appearing today, but FOMC is being announced in just over an hour which will probably bring a lot of volatility and potentially shake things up so we will see...
Also don't forget to check my BTC video in my previous thread linked below if you haven't already.
We look at this type of content every day 👍🏻.
Not advice.
Comment:
BTC has been moving in a very gentle descending channel within what is probably a re-accumulation / consolidation range that seems to have been giving the green light for ALTS to push on.
And so its becoming interesting that the bears have a long list of reasons why crypto can't become bullish but yet ALTS are frothing up nicely over the weekend.
Its interesting to consider the psychology -
At the tops the chest thumpers believe the gravy train will go on forever and at the bottoms; doomers believe the gravy train can never come.
Both are hubristic, complacent and loud.
But enormous gains come to those that can block out the noise, get the work done and be nimble while the herd look the wrong way😼.
And so its becoming interesting that the bears have a long list of reasons why crypto can't become bullish but yet ALTS are frothing up nicely over the weekend.
Its interesting to consider the psychology -
At the tops the chest thumpers believe the gravy train will go on forever and at the bottoms; doomers believe the gravy train can never come.
Both are hubristic, complacent and loud.
But enormous gains come to those that can block out the noise, get the work done and be nimble while the herd look the wrong way😼.
Comment:
Not so gently now, the boat is getting rocked with some fear testing here and this will be 5 bearish days in a row.
That said, this is the type of action we come to expect from BTC and have seen in previous bull phases.
Falling below the 20 day MA here...
And with this descent plenty of ALT runners and consolidators have pulled back and we've picked out some that have hit our target areas such as LRC APT FTM and more...😼
You buy the pull backs right?
Thats what they tell you.
But the trouble is you need the confidence that the market is trending to do that...
Most just panic and clutch tightly.
But fortune favours the brave (and those that work hard).
But yet the heroes always get smashed in the end (they didn't think it through).
Its a fine line 😸.
That said, this is the type of action we come to expect from BTC and have seen in previous bull phases.
Falling below the 20 day MA here...
And with this descent plenty of ALT runners and consolidators have pulled back and we've picked out some that have hit our target areas such as LRC APT FTM and more...😼
You buy the pull backs right?
Thats what they tell you.
But the trouble is you need the confidence that the market is trending to do that...
Most just panic and clutch tightly.
But fortune favours the brave (and those that work hard).
But yet the heroes always get smashed in the end (they didn't think it through).
Its a fine line 😸.
Comment:
BTC bounces back and I bought the fear dip yesterday, the alts i mentioned here FTM LRC and APT all well up today!
I linked my AGLD thread below that we bought before the pump, chart to evident. It was up 78% today and that will be just the beginning I think, plenty more to come 😼.
And i'll be doing plenty more of this. Finding the coins in best positions 👍🏻.
Wild gains in crypto today all while the know it all bears stomp their feet for what they think is an inevitable recession 😸.
I linked my AGLD thread below that we bought before the pump, chart to evident. It was up 78% today and that will be just the beginning I think, plenty more to come 😼.
And i'll be doing plenty more of this. Finding the coins in best positions 👍🏻.
Wild gains in crypto today all while the know it all bears stomp their feet for what they think is an inevitable recession 😸.
Comment:
BTC fell out of the trading range.
And if you look to the chart at the top of the thread you will see that did happen also back in 2019.
Does this mean that BTC must follow the exact path of before ?
- No of course not but skill in this area comes from having a "bigger picture" awareness. And you don't have to join my group for this, you can simply watch the video I gave TV for free weeks ago. Its all there 👍🏻.
And that awareness comes from watching all the chart, dominant charts and ALT charts.
So the know-it-all bears are cheering now that BTC is going to 14K, 9K, or if you're Peter Schiff - 0.
But they're not watching all the charts. And the reason they're not watching is because they already know it all 😸. Thats how this game runs - round and around.
So here's a chart that may have slipped by under the radar of every bear:
LRC - Up 27% today while BTC slumps.
How does this fit into the bearish narrative?
I would suggest - not very well 😸.
And if you look to the chart at the top of the thread you will see that did happen also back in 2019.
Does this mean that BTC must follow the exact path of before ?
- No of course not but skill in this area comes from having a "bigger picture" awareness. And you don't have to join my group for this, you can simply watch the video I gave TV for free weeks ago. Its all there 👍🏻.
And that awareness comes from watching all the chart, dominant charts and ALT charts.
So the know-it-all bears are cheering now that BTC is going to 14K, 9K, or if you're Peter Schiff - 0.
But they're not watching all the charts. And the reason they're not watching is because they already know it all 😸. Thats how this game runs - round and around.
So here's a chart that may have slipped by under the radar of every bear:
LRC - Up 27% today while BTC slumps.
How does this fit into the bearish narrative?
I would suggest - not very well 😸.
Comment:
Exactly as described - in the end it was a SRP (shakeout reversal pattern) fear trap probing below the consolidation range, effectively the same as 2019 only it took a little longer.
And if you watched the video (linked below) at about 10:00 I describe how BTC should see RSI 50 before moving up and that would be a good entry and that is exactly what happened - it bottomed at 46.
How did I do this? - I just did my homework rather than watching youtube gurus.
And as described above I've been buying the dips on ALTS all through this area while the herd panicked - so its been a good day today.
Anyhow thanks guys - thats how its done 😼.
And if you watched the video (linked below) at about 10:00 I describe how BTC should see RSI 50 before moving up and that would be a good entry and that is exactly what happened - it bottomed at 46.
How did I do this? - I just did my homework rather than watching youtube gurus.
And as described above I've been buying the dips on ALTS all through this area while the herd panicked - so its been a good day today.
Anyhow thanks guys - thats how its done 😼.
Comment:
Taking a different short term route but its all the same. BTC holds, wobbles and moves on up. See you @ $174K.
Comment:
Check my more recent thread for up to date video content.
Nice bounce this week, could be time to move on up soon.
Nice bounce this week, could be time to move on up soon.
Comment:
Any questions 😼?
Comment:
How's this idea looking now guys?
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Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Make gains, learn technicals 🚀.
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Contact: t.me/dRends35
If it falls then it should effectively be a green light for crypto and post FOMC in higher volatility it is getting close to breaking structure.
If it collapses down passed the December swing low then it will be a big hurdle passed on the way to a potentially bullish 2023 for crypto and stocks.