Hi. Happy new year everyone! As you can see on the chart bitcoin can partially repeat the gold fractal, at least a few analysis on the fractal coincide, pay attention to the blue fractal. I think yesterday's pumping of altcoin and decrease of bitcoin dominance will give an understanding that it is possible to enter the market, and the fomo will start in the next...
Good Morning/Afternoon Update The CRYPTOCAP:BTC GAP was FILLED yesterday. 38k is minor support, don't expect a stand there but bounce possible. Dotted lines are Fibonacci levels. #BTC 37k price target very close. #Bitcoin 32k is a stretch but anything is possible with a volatile asset. Bearish moving avg crossover is shown by the yellow...
In my recent analyses I've written several times that I expected the ETF launch to be a major top, which has played out perfectly thus far. Furthermore, I indicated that the 41.2k-40k range as a major area of support for Bitcoin. As of now, BTC is making a lot of effort to penetrate said support. In case BTC doesn't reverse from here, we're going to see a...
Since September 2023 Bitcoin has been in a rally predicated on the Bitcoin ETF launch. The chart has setup in accordance with my technical rules to finally short (bet against) the price action. I am also going to use this post to expand upon my broader bearish outlook on Bitcoin at present and into the future. I was definitively Bullish on Bitcoin in Q1 if...
BTC could be in trouble with a daily close below $41,229. It's been ranging since the initial run up that ended December 5th. It faked out to the upside, and is right back in the range. A daily close below $41,229 could send it back into the 30k range. Worth noting we did almost get a 100% move in 4 months. A healthy pull back might not be a bad thing.
After yesterday's false start, Bitcoin's long anticipated ETF is finally here. However, it remains to be seen whether this ETF approval will be bullish or not. In the long-term, definitely. Price action over the next few weeks/months is likely bearish. As mentioned before, I'm expecting a short swift pump towards 48,000$ before hitting two major resistances and...
Since the price action reversal on CRYPTOCAP:BTC it has been struggling. (also sold CRYPTOCAP:ETH & CRYPTOCAP:LTC few days later) There is way too much positivity in this space for what's happening. #bitcoin is at the top portion of the gap, but may not hold and will likely fill & trade lower. We have been huge proponents of using futures data vs spot...
Last weeks high: $43584.42 Last weeks low: $41935.80 Midpoint: $40287.19 With the BTC sell off underway post ETF approval, we start the week hovering just under the previous weeks low of 41.5k. This area is the key S/R zone in my opinion and for now it looks like BTC bulls are struggling to reclaim that level. I previously stated in the last weeks...
Preface: I'm still bearish on BTC as per my most recent analyses. The ETF launch likely signaled a major top, potentially until the halving. My most likely scenario's are shown below. That being said, I think it's worthwhile to look at the market from different perspectives. In this analysis I'm going to compare the 2016-2017 bull-run with the 2023...
In the week subsequent to the introduction of the BTC Spot ETF, the cumulative trading volume across all 11 ETFs has reached $9.8 billion, with GBTC alone contributing $4.6 billion to this total. Since its transformation from a Trust into an ETF, GBTC has witnessed $1.17 billion in outflows, as shown in this link . This trend was anticipated, given GBTC's...
So if we look at last cycles on Bitcoin and apply Fibonacci from bull cycle to bear market bottom, we have bear rallies to 0.618-0.66 area and then we reject and dump hard until halving and real bull cycle starts. We have seen the same, I had this plan since November. In my opinion most likely scenario now is slow bleed to the downside (not saying we won't have...
In this analysis I want to shed some light on an interesting relationship that I found between bear-market bottroms and the price of Bitcoin during the halving. This analysis is speculative and based on 2 previous occurences, so take it with a grain of salt. The relationship that I found is as follows: 2nd halving: price at halving = 300% off the bottom. 3rd...
Over the last few weeks I've been repeating the same message over and over: the ETF launch is NOT a moment to buy and will most likely lead to a short-term correction. The ETF, combined with long-term resistances & bearish divergence made it a statistically bad time to buy. After a ~16% correction from the top, we're now trading around the 41k area. In my...
It has been 1 year almost to the day since my last publication and what a 12 months it has been. I previously laid out the case for a pending future recession but not before we saw massive regular bullish divergence play out on the monthly time frame for Bitcoin. Since then we've seen a 187% move in BTC, a 25% move in the S&P 500 and every commentator, pundit...
Bullish flag pattern drawn with a potential buy areas. I'm not a huge fan of high dividends but thought I'd share. Always do your own DD, these patterns especially tend to fail often.
Morning folks, So, there some some jokes on the market already that BTC is becoming a stable coin... Indeed volatility has dropped drastically. But this could easily explained. If nobody is buying right now but all selling offers are swallowed by ETF whales - where coin should move? For instance, only BlackRock as bought in a single session this week more than...
Hello friends, I hope you are well. We have the gold chart in the one-hour time frame. Yesterday we said that we will wait if the support zone is broken down, the next target is the zone (2005-2008). Now in this area, with the formation of candlestick patterns, it has moved upwards. The areas that are important for us are the bottom of the previous broken area...
In many of my recent BTC analyses I've been talking about my view on the ETF. My prediction was that the ETF would be a sell-the-news event and mark a local top. Thus far, my view has been correct. In this analysis I want to take a look at the Gold ETF and its effect on the short- and long-term price movement of the underlying asset Gold. My short-term view on...