BTC - Top-Down Analysis ๐น from Weekly to H4Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
๐ Here is a detailed update top-down analysis for #BTC.
Which scenario do you think is more likely to happen? and Why?
๐Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
Bitcoin (Cryptocurrency)
Bitcoin : Why the ETF News is BEARISH for BTCHi Traders, Investors and Speculators of Charts๐๐
The Bitcoin ETF approval is expected to be announced any day now - but wat does this mean for the price of BTC?
When there's an unprecedented event that will affect the markets, it's helpful to return to the basics:
๐ Buy the rumor, sell the news
๐ Macro Analysis
๐ Candlestick analysis
๐ Buy the rumor, sell the news
If the ETF should be declined (which seems unlikely), the price will definitely react negatively. But if the ETF is approved (as most widely anticipated), the price will likely also drop as the classic dump after good news.
๐ Macro Analysis
Bitcoin is due for a correction / pullback. Even dropping to lower 30K zone would still be a lower high, classic Elliot Wave Theory before the next upwards impulse wave.
๐ Candlestick analysis
BTC has made 5 consecutive green candles in the MONTHLY. A red one is definitely overdue. This will support as a "fundamental reason" for the ETF news.
NOTE that I am still BULLISH on BTC. We're in the opening moments of a new bullish cycle, but there are pullbacks and corrections in upward cycles - and I'm expecting one around the time of the ETF news.
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CryptoCheck
BINANCE:BTCUSDT
Crypto stocks & Bitcoin slaughtered!Stocks like Coin, Mara, MSTR all got s=demolished this week on the back of BTC having a 11% pullback from highs.
Bitcoin is forming a weekly reversal candle that is extremely bearish.
This candle could indicate a near term top in the crypto market.
If we get a weekly hammer reversal expect a 50% retrace on the bearish candle, this means some crypto stocks could be in for a dead cat bounce.
Bitcoin near term top!Bitcoin saw a nasty Daily topping tail on volume.
So far it appears the ETF news is a sell the news event.
Despite BTC selling off slighlty the decline really wasnt all that bad respectively.
Compared to some of the equity market signals we got in the crypto stocks today. The likes of Coin, Mara, MSTR, WULF, RIOT...all saw some nasty daily reversal signals.
The fact that crypto stocks sold off so greatly its showing the most speculative investors are getting cautious around this Bitcoin resistance level.
SEC Manipulates Bitcoin with Fake ETF Approval News-Intentional?Trigger Warning: This video may offend those who are religiously dogmatic in their political affiliations. Do not watch if you prefer not to have your gods critiqued.
I had just put out a video earlier this morning warning you all that the SEC and Gary Gensler may pull some tricks out of their hat. A few hours later, the SEC puts out a false tweet, liquidates millions, and claims that their account was compromised for the first time in their X history. Something very much doesn't smell right here folks. But, unfortunately, none of this surprises me. I literally titled another video a few days ago, "Expect the Unexpected". Now, we can see firsthand exactly the type of shenanigans I am referring to in these two previous videos.
The 'SELL THE NEWS' trade that got me the 'FXProfessor' nickname๐๐ "Bitcoin ETF Buzz: To Sell or Not to Sell?" ๐ค๐ฐ
Hi everyone!
๐ Today is a special episode, a special post, and a special idea. First of all, Happy New Year ๐ to all of you!
We have Bitcoin at 45K, nearing 46K ๐, prompting us to consider our options.
Is it time to sell the news ๐คทโโ๏ธ๐ผ with the Bitcoin ETF drawing closer?
The market is rife with FUD ๐จ, and Jim Cramer's opinions can't be ignored. He suggests that the ETF approval might be an opportunity to sell, but history has often shown his predictions to be off-mark ๐.
Let's delve into history for guidance ๐ง๐. Back in December 2017, during the CME listing of Bitcoin futures, I made a significant sell decision. At that time, I wasn't on Tradingview but shared my thoughts on Facebook, predicting a manipulation in Bitcoin's price post-news ๐๐๏ธ. Indeed, the 2017 all-time highs werenโt revisited for three years, validating my decision ๐ฏ.
Check it:
Now, let's analyze the current scenario ๐๐. With Cramer hinting at a potential sell opportunity following the ETF approval , it's crucial to scrutinize the charts ๐. I'm leaning towards a 50% chance that the market is poised for an upswing with the ETF's approval
โ
๐. However, itโs essential to understand Bitcoinโs seasonality and cycles โณ๐. We're currently heading towards a halving year, with the next all-time high anticipated around the end of 2025 ๐
๐. This differentiates the current situation from 2017.
My focus is on a key resistance level at $47,071 ๐น๐, which will be instrumental in my decision to sell or hold. If this level is breached, we might witness a significant breakout ๐ฅ๐ธ. However, should there be a surprise ETF rejection, a fallback to lower support levels is possible ๐ฑ๐.
To conclude, while my initial inclination was to sell the news, the current analysis suggests that might not be the most prudent course ๐ค๐ญ. Remember, each move in the crypto market requires careful analysis and an understanding of historical trends ๐ฌ๐๐. Stay tuned for more insights and updates!
One Love,
The FXPROFESSOR ๐๐จโ๐ซ๐ผ
my special 'simple secret chart':
btc weekly 50 and 200ma cross going parabolic (Golden Cross)Sometimes on a weekly chart things can take a little longer to take effect but this alone is going to attract big investor Money
Your average CNN type investor won't put money in anything that's doesn't have the 50 day MA above the 200 day MA
You Can go back in BTC's History and see this a Reoccurring Event that when the Crosses the 200 BIG Price Action Follows
(Phantom) FTMUSDT AnalysisA short foreword. I do believe Bitcoin will come back to retest around the 40k levels. It is currently consolidating in a range with equal lows. Below the equal lows lie a void on the futures chart that has not been filled yet. I'm expecting some sort of manipulation move to the downside then a bounce back up as i'm still overall bullish on Bitcoin for now.
Everything I had to say about Phantom is in the video.
Major Levels Are Now Being Broken in the Altcoin Space!Traders,
In this weekend's video, I am continuing my cautionary tale. You'll remember in my last video that I went all contrarian on you regarding the Bitcoin ETF approvals. I was not necessarily bearish. But I am not necessarily bullish either. I am only observing some indications on the charts that warrant caution. And thus, I stated that we need to be prepared to expect the unexpected. We could be at a mid-cycle top and the whole ETF approval thing could be a sell the news event. Altcoins, now seem to be backing that hypothesis as major support levels are being broken all around. We'll take a look at what I am observing on these charts.
BTC ETF Approval. Expect the Unexpected.Happy New Year Traders!
With the likelihood of Bitcoin ETF approval in the cards, there are a plentitude of zealous crypto traders on the crypto rocket anticipating destination moon. But what if it doesn't turn out the way everyone expects? What if the MMs shake out the pockets of dumb money and over-leveraged moon boys? Or worse yet, ETF approvals are delayed yet again? Nothing is really certain until it's settled. In this episode, we're going to discuss a few indications that the possibility of more sideways to down action is really not that far-fetched. Understanding this perspective can help us to trade safely and avoid being rekt.
Market Cycle - Accumulation - KEYUSDKEYUSD - Selfkey - weekly chart
Here, I use the FIB to show my thoughts on potential targets for KEY in the coming Bull Cycle.
You can see that the 3.618 FIB purple line, has been where the past few cycles on KEY have targeted. I have noticed this on MANY coins.
If this plays out, we could potentially see 15X on KEY from current levels in the next bull market, after BTC halving, I suppose. No one knows, but that's what I assume.
Not financial advice just my 2cents.
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