BTCBTC is coiling up for a move. It is in a symmetrical triangle which would normally indicate a continuation to the down side but ETH seems to be breaking up. I think this will pull BTC up with it like the last run up. Around 48k-49k
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BTC hit our targetBTC broke down from its rising wedge and over shot our target. The SPY dump pushed crypto lower. The SPY currently looks like its drawing a minor consolidation for some relief which will help BTC. I am anticipating some relief here on BTC and the SPY. I am looking for BTC to move to 33k-34k from its current consolidation on declining volume
BTC BULLISH BTCBTC looks interesting compared to ETH. in the short term it looks bullish when ETH looks bearish. I was expecting a touch of the bottom trend line before we bounced out of this pattern but BTC could start its breakout earlier than that. The smaller wedge looks like it can breakout to 49,600 from here. If it is the beginning of the bigger picture falling wedge breakout, I will be looking for 57k-58k from here which is my primary view
BTC breaking bearish structure?BTC has been pushing hard this past week from its last break out. I unfortunately thought I posted here but instead elsewhere. BTC was in a broadening triangle on declining volume with an upside target of 22.8k. It nailed the target, consolidated again, and pushed even higher. The stock market flipped major resistance into support quickly this past week was unexpected and added a lot of bullish momentum to BTC. A lot of these moves were surprising and sudden but the overall bear trend has not been invalidated even though I am expecting more upside. We seem to be consolidating in a minor pattern on declining volume which would indicate continuation higher up to 24k which is my primary view. On a break down, I will look for a retest at 21.4k on a break down. Given how much we have moved without a pull back and we are in the middle of the channel and pull back will most likely be soon. If not and we shoot to 25.3k, I would look for a pull back from there. The 25.4k level is a significant level for the over all trends. it is the major down trend high we need to beat to indicate a new trend is forming to the upside. Could it be the beginning of the bull market? possibly but I'm personally not sold on it yet. Nothing has really felt like capitulation to me and I still think there are some major bearish catalysts this year coming up.
BTC About to move! Tight consolidation for weekly closeBTC is about to make a move on declining volume. on a break up, I am still looking for 22k(Primary view). Ona break down, I will be looking for 19.6k. As long as we close the week over 19.6k, I will become bullish to 24k-25k. Possibly even 30k but I will play it one level at a time. If we break down and close below 19.3k, I will become extremely bearish and start looking for 8k-10k again in the mid term. The stock market has been looking bullish lately which makes me bullish on BTC. Earnings are this week so we may hit some turbulence if they are poor. I think they will have neutral/bearish results which will take us sideways mostly. THis should still allow BTC to keep breathing from where it is. In general, for the year, I am still expecting some rough price action on both markets due to a cold winter to strain our energy resources AND for the Ukraine and Russia war to really escalate. THis year will be their full show of force for both sides. What we have seen is nothing yet.
BTC BEARISH day tomorrow? 14k validBTC: after re-evaluating after some pattern invalidation, the best I can make for BTC is that this macro structure on the weekly where the weekly volume indicates a big move soon. Most likely decided by the SPY reaction the CPI reports tomorrw. So depending how the SPY leads, that will determine this overall trend for the next few weeks. The targets for the downside(15k and possibly 14k shortly after) and the upside(18.7 and 19.3k) are still valid from this perspective. My bias is bearish. Rising wedges in this overall downtrend would indicate a break down the downside targets so overall, I am still bearish. Looking for the downside targets listed above. On invalidation I will look for us to move to the top side of the channel to retest major resistance before another sell off
BTC Continuation to 33k-35kBTC has not been looking to hot and neither has ETH. Still breaking down from their rising patterns on declining volume. I am look for 33k-35k on BTC before I see the next major setup. Russia news and quantitative easing is not looking great for either market and I don't see it getting much better anytime soon. Putin is going to keep pushing buttons until he either wants to invade or the west makes concessions to him to avoid it. I think its most likely the US makes concessions rather than an invasion
BTC BULLISH BTCBTC looks like its drawing a falling wedge on declining volume to break out to 57k. We can sill consolidate in thei pattern for a bit longer before pushing to the target
BTC BULLISH BTC (BIG PICTURE)BTC Is still in the early stages of the big picture breakout. This symmetrical triangle breakout is currently taking us to 90k-100k at the moment. Will re-asses once we hit our target. I am still anticipating that this bull market will take us to 120 at the minimum
BTC BULLISH BTCBTC looks like its drawing a continuation pattern on declining volume to move up to the 70ks
BTC getting ready to pump?BTC is in a tight consolidation on declining volume getting ready to make a move. We are consolidating under major resistance and drawing a continuation pattern. The target for this break out is 27k on a spike in buy volume. This is my primary view as I am anticipating this to be the start of a push for 30k. However, This move will most likely depend on the stock market breaking out on its consolidation to see this relief(see previous post). If this pattern fails, I will look for 22k-22.5k. Then I will look for the next setup
BTC bearish in the short term?BTC looks like it is in a rising wedge on declining volume making a short term top. The breakdown target is about 21k. Interest rates are going to be raised this week which makes me believe it maybe the catalyst for some downside on the stock market. This will in return drag crypto down with it. if we break up from this consolidation, I will start looking for the 25.7k level. But my primary view is bearish to 21k
BTC bullish to new highs?BTC is in a nice declining volume consolidation that looks like it wants to continue to 23,800 on a break out. This is my primary view, but if it breaks down, I will look for 22,293. In general, I think 30k is likely but 25k is the mid term target with a pull back. THe stock market has been much more bullish than anticipated and can help crypto breath for the short-midterm.
BTC UPDATE: NO CHANGE STILL BEARISH TO 14kBTC has been mirroring the stock market recently. It was drawing a rising wedge(yellow) on declining volume. As the SPY broke down on a spike in sell volume, so did BTC. Since then, we have been drawing a minor consolidation on declining volume. Another rising wedge(Red pattern). I am anticipating this break down to at least 16k. But it will most likely over shoot that as we head to the 14k level from the bigger picture.
BTC BEARISH TO 18kBTC looks like it has been drawing a rising triangle these past few months on declining volume. In think there is some bad news that is going to pop up in the next few weeks which will be the catalyst for the breakdown. The SPY is at resistance and I am expecting a pullback soon which will have a negative impact on crypto. I really hope I am wrong but the breakdown target can go as low as 17k-18k on BTC. I do think we are in a bear market until the next halving . I think 10k will be the bear market bottom for BTC. Then the next bull market will take us over 100k in a couple of years
BTC Bearish to 37kBTC is currently consolidating in another symmetrical triangle on declining volume. These are usually continuation patterns which would imply a breakdown to 37k. If we don't We can break up to 40.8k. I'm overall bearish to 32.5k however. I will re-evaluate on invalidation
BTC pump bullish or bearish?BTC It is currently in a consolidation that could take us to 50k on a break up. on a breakdown, I will be looking for 32.5k This is the picture that makes the most sense to me with the volume profile and the pattern. Symmetrical triangles are normally continuations of the trend which would imply downside. But I think the current issues the global economy is facing will help crypto thrive. These are the circumstances crypto was made for. TO create a decentralized safety net against fiat currencies and censorship. This pump was also good because it reinforced the trend lines which emphasized a clearer pattern. I think this pump was nice but may be short lived as we can pull back towards 38.5k now that we are at resistance. If we can start getting above 43k, I will look for 50k on a strong weekly close this Sunday
BTC still in a bull market?BTC has still yet to make a lower low on the larger time frames which implies that this bull market isn't over yet. If we can get a good weekly close above 43k this week, I will be looking for continuation to 53k. from there, I may start looking for 100k but it depends on what forms. These escalating wars are starting to get out of hand. I think its influencing crypto a lot as national currencies are starting to lose value and their ability to transfer internationally. SO people are jumping into crypto as a hedge as well as a way to side step sanctions
BTC bullish to 46.3kBTC hit our 45k target and now it looks like its consolidating in a symmetrical triangle for continuation to 46.3k If we fail I will be looking for 41.8k. With the war escalating everyday, I expect crypto to keep pumping as it is becoming a hedge in war times more and more everyday. Currencies are becoming volatile and crypto is the best option for a lot of people. Its also a good way to by pass sanctions if Russia gets cut off from the SWIFT system
BTC move to 41kBTC has touch our original targets between 33k-35k. We have since been flagging higher and moved into another consolidation. Looks like a symmetrical triangle about to move to 41k. I haven't been able to update lately since I've been extremely busy. Message me if you ever have questions and I haven't posted in a while
BTC can we avoid a dump on the weekly?BTC needs a strong close on the weekly above resistance at 43k to avoid a dump. I posted a bearish setup yesterday explaining my thoughts. We currently look like we are consolidating in a falling wedge with declining volume on the 4h. If we break up, I will be looking for 45k. This can invalidate my bearish thoughts as long as we get a strong close todays weekly candle. Very short term I am bullish but bearish in the near future.
BTC disbelief rally continues 48k next?BTC has kept rallying higher and higher over resistance which is nothing short of impressive. We look like we are making a higher low to maintain the bull market. Looks like we are about to go for another stab towards 48k from this rising triangle on declining volume
BTC BEARISH SETUP INVALIDATEDBTC looked to be drawing a rising wedge on declining volume as well. I was looking for 33k but this break up has invalidated it. currently look like we are flagging for 42,500. Need a strongly weekly close at about 42k as well to get continuation to 45-46k. just above resistance but its possible we get rejection back to 36k-37k if we fail
