cryptoGats

Bitcoin - I see something you will like a lot!

BINANCE:BTCUSDT   Bitcoin / TetherUS
If you have been following me you should be 60 to 65% into BTC or Alts depending on your preference. Keep in mind that BTC will not keep going down forever, at one point it will stage a rally to the 200MA, we just have to find out from where and when?
We know that we've had too many red candles in a row, which means that some green candles are coming for sure, so we now have to find the "where" meaning what juncture can generate a rally to the 200MA. I have found -- as you can see on the chart above -- an area of interest from where BTC can spring up to the 200MA. All of these lines meet around December the 6th . So the potential rally can happen anytime from December 1st to the 15th.
To be clear this means that we will spring up to around $9400, get rejected and fall back down. It is unlikely that we will continue up from this point. This is just part of life under a death cross, we still have to go through a boring period of consolidation before we get out of this mess as well.

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To add to this, check out this chart that shows that the same will happen around also the same time with the total market cap around December 15th.

The takeaway
The time to make long term purchases for Alts is now, but do not commit 100% of your capital, wait for the rally to the 200MA. A rally can happen between now and mid-December. This is not guaranteed but the probabilities are very high and that's why we have to be on the lookout.

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NOW, THE LEGEND;
Support trendlines are green
Resistance trendlines are Red
Horizontal support lines are white, the thicker the stronger the support
50 Moving Average is yellow
200 Moving Average is white

THE TREND: Going Down
THE OUTLOOK: Begining to see the end of the downtrend a rally may be coming soon.





Nov 25
Comment: I should clarify that even if we make a rally to the 200MA that does not rule out going back down and possibly to the mother of all buy zones. Which due to the weekend meltdown is now in play.
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Interesting!
This is my analysis on BTC. The downtrend will continue for mid term. All the details inside.
Would be great to hear your thoughts
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@Anpu, thanks
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Gats, Interesting discussion, do moving averages dictate where the trend lines go?
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cryptoGats forex-4ever
@forex-4ever, no, not always but sometimes yes. When a moving average coincides with an MA you know that line will be truly respected if it’s either support or resistance.
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forex-4ever forex-4ever
So they move independently but sometimes coincide?
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cryptoGats forex-4ever
@forex-4ever, precisely, they’re just 2 tools that help generate and validate support and resistance.
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The support lines are easy to see and they make more sense if you go back and use the monthly view.
The trendline: Correct BTC keeps breaking support so you have to keep looking for previous trendlines where BTC has touched multiple times, and the likelihood of it touching again is there, hence me using the one you mention and it seems like it has considered it as support for now, also look for MAs to reinforce the trendlines from time to time.
Profit: Yes but this is reserved for the 2 coins on my midterm portfolio -- which is more risky that my main long term portfolio. Not touching coins on the longterm portfolio at all.
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sasquatron cryptoGats
@cryptoGats, Out of curiosity, what are the 2 higher risk coins in your midterm portfolio?
Appreciating your charts.
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cryptoGats sasquatron
@sasquatron, BSV & ETH.
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investicli cryptoGats
@cryptoGats, ref the other question I had - "you base your trend line of what happens in Jan to March, but if you look further back that trend line goes back to 2017 - so my second question is what determines when you start and end a trend line and at what point do you ignore historical data like that?"

...also out of curiosity, how do you break your portfolio down - what %age is midterm, and what %age is long term? Thanks again!!
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