Welcome to this quick Update, everyone. If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way. I also post altcoin setups on Spot, Margin, and Futures.
First of all I don't intend to scare or confuse you with this chart. Neither want to portray a 2 arrow chart on up and down. No matter where the price goes the author becomes right eventually. Not that CRAP, What's really important here is to face the reality. When the market dumps all those OGs and Moon boys won't post anything at all and you are left helpless because you bought the top because of their shilling! Don't do that please...
Bullish Scenario: Currently we are trading above:-
21D MA $44843 50DMA:- $46628 200D MA :- $45143 If We maintain these levels and break and close above the 52.5K LEVEL new ATH possible.
BUT BEARISH SCENARIO?
I know it sounds scary and some people might come up with hate comments too. But all I want is, to aware you. You can also see everyone is bullish now, calling for 70k and even 100k. Which is exactly what I want too but do we have that fuel in the market? Declining volume, no much buying from the whales (ON CHAIN DATA) This looks fishy to me. We have been making lower highs and lower lows since April 14th 2021 making a high of $64,986.
Either we can pump from here all the way to 49k to 52k leaving a wick and dump right back to 31k. They could come up with any news, CHINA banning miners again, banning crypto trading again and what not "Be fearful when everyone is greedy"
This quotation helped to save a lot of money in the last cycle after I got wrecked in 2017-2018 bull market because we always want more and lost everything I made in 3 years. JUST BECAUSE I DIDN'T TAKE PRECAUTIONS.
The market looks bullish for altcoins but once BTC behaves unexpectedly all those gains you made these days will be gone in minutes. You see? There are a lot of IFs and BUTs, so better not take risks when things are uncertain.
NOOB QUESTION:- Alright Cryptorphic I get it and i am tired of reading your long post, What to do now?
1. Stay mostly in USDT/USDC 2. Take short term trades/scalping and close in Profits 3. Avoid overnight holding, if. you do never ever sleep without SL. I know you are scared it might hit your SL and pump to the moon and you loose few bucks but what if it breaks the whole support and dumps -20%+? So be careful. 4. Avoid holding alts in BTC pairs BTC.D is bouncing, I am not holding much ALTCOINS in BTC pair, this could be risky as of now.
END NOTE:- UNLESS BITCOIN CLOSES ABOVE 52.5K IN WEEKLY WITH GOOD VOLUME EVERY MOVE IS A TRAP. MY AIM IS TO KEEP MY FOLLOWERS ALWAYS LEVEL HEADED! ALWAYS! No matter what happens we always maintain proper Risk management. The only toll which will confirm your sustainable career in this nasty crypto world.
If there is any update or change in the trend, I will let you know beforehand. FOLLOW ME and Share this chart with your crypto friends and other communities. You might save someone from getting rekt. Sorry for the long post. I hope you got the point.
Do appreciate with your likes and comments. It motivates me to work more. Thank you so much guys for your consistent support.
Thank you
#PEACE
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I just want you guys to be safe. Keep an eye on it... I want everything to pump to the moon. Do not forget to take profits. I am not a Bear at all but better to be safe than sorry...
Everything I shared in the above post is completely my own view, you do your own research before taking any trade decisions. This is not financial advice.
Thank you
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I don't want this to happen truly... Neither I am a bear. Let's just be honest. I would be happier to be wrong.
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So far channel formation is in progress, I know it looks like a bull flag, exactly at the resistance. Breakout will decide the direction of the trend. Must break out within the next 24 hours, maybe around the weekly close. Am doing scalping within 2-3% moves. Will wait for the market to show some more clarity. Remember if BTC pumps, ALTS will follow.
Stay tuned Do follow and share this chart. I'll keep it updated 24*7!
Cheers
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This is the USDT.D Chart, Inversely proportional to the growth of all USDT pair assets. Bullish Divergence and double bottom in hourly. Shows a probability of a correction across the market in the short time frame.
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Be safe with. your altcoin positions.
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I know BTC is pumping and you don’t want to miss any move. This is it. New ATH incoming. Do not let your emotions make you FOMO. Keep a hold, look at this chart again and again until you understand that the momentum is fading while the price is increasing. I don’t know. Just my thoughts. DYOR REMEMBER what I said, close above 52.5k means moon. Until then everything is a trap, at least for me. You can make your own choice. We are making profits in short-term scalping so yes, we are not at loss from any position. Besides we are safer with stable coins mostly in our portfolio.
Stay tuned
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BTC: No clear signs yet. Bull Traps and Bear Traps. BTC entered the red resistance area. RSI shows some bearish signs though. Close above 49.7k would be bullish for a move to 52.5k resistance. I am still staying aside. Crypto is full of opportunities. Don't want to trade when I am not sure of the trend.
Stay tune
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CLICK ON THE ABOVE CHART TO READ THE LATEST ANALYSIS ON BITCOIN.
THANK YOU
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BTC is likely to break to a new ATH, New Analysis coming tomorrow, Stay tuned.
Actually most people think it's a trap and it's going back down for a deeper C leg. So your prediction is wrong if you think everyone is bullish.
Gunslinger2005
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@Darkside999, dude I can easily browse and see everyone is bullish. I can easily look at longs vs shorts charts. I can easily see funding rates. what is your logic even based on? twitter and youtube? you keep trolling every post you do not like... saying they have no clue... but you keep reading everyones analysis and do not share your own. so maybe you do not have a clue
Darkside999
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@Gunslinger2005, look pink bear snowflake. Is that why you got short squeezed at 40k area? Lmaooo
ivanguzman102
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@Darkside999, That is why he is giving you both options for the bulls and the bears.
Cryptorphic
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@ivanguzman102, Better leave the "I know it all" people. Don't waste your energy bro.
I like your every analysis best part is you always talk about risk management either directly or indirectly which is most essential reminder I get from you. Keep up your good work buddy 👍
Cryptorphic
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@pvtawar, Risk Management is the secret, my friend.