Hello, everyone!
Today I'd like to share my analysis of the Bitcoin (BTC) market and discuss my observations. It seems that recently we've been experiencing a period of price stability for Bitcoin, and although we remain within a certain range, I see an intriguing perspective.
When analyzing global timeframes, one can notice a chart pattern resembling a rising...
At a glance:
Higher tech stocks tend to boost ETHBTC, while a higher USD tends to depress it
Bitcoin supply is perfectly inelastic, which contributes to its high volatility
Together, ether and bitcoin account for over 60% of the total value of the world’s cryptocurrencies, but the exchange rate between the two has varied widely over time.
So, what drives...
BTC held the 618 on this leg, and has made a new impulse Wave #1. We also closed above the 21D EMA (red).
The flag target is about 35,100. After wave 2 consolidation, we should head up through the rest of the volume node we are currently in (gray area).
We are also above the 200 SMA, also bullish. (not shown)
It's possible the MM's try to pull a liquidation...
(pls see profile for info)
4 Hour
CRYPTOCAP:BTC was good, not great, but good volume. Good enough at least.
Today looks heavy until you compare it to other days.
DAILY
#BTC closing above orange down trend with good volume = GREAT.
Cyan line MUST HOLD for the Bull case.
Longer term downtrend line is still intact. Closed leveraged #BTC trade when it was close...
People just don't get it:
Sometimes a catalyst is NOT NEEDED for a big move.
#BTC Futures dictate market price, NOT spot.
After big moves consolidation takes time, weeks, months even.
Added an additional parallel trendline for CRYPTOCAP:BTC (T3).
Not crazy about it and let's see how it holds.
#Bitcoin closed first time under Trendline 1.
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CRYPTOCAP:BTC is...
This structure is not seen very often, but the erratic behavior that Bitcoin is experiencing is only to stabilize the price in this area, and it is forming what could be a megaphone pattern. This pattern is leading us to the 35K mark and its amplifying powers may be what Bitcoin needs to move forward. Patience is the science of waiting for what we know is inevitable.
-Price is in contraction and building shelf at the high
- buyers will freak out as stops start getting run and fall back into previous swing
- buyers from last low want to step up and buyers that missed the last run will pile in at the higher low.
- stop is under known buyers that held and entry is at buyers that lifted price to new high
- this is based on...
Did just BTC fill the CME gap and reverse the trend? It seems perfectly filled.
Let's see how it will play out...
BTW, there is another CME gap marked in blue just below. Could BTC reach it?
Also, BTC is trending in a huge ascending channel, hopefully it will stay within.
Just a simple analysis.
All the best to everyone!
not as obviouse but there is this arguable divergence on the weekly for btc. these are the futs so it looks different will chart it on a normal chart to see if it also shows. weekly divergence is traditionally a strong indicator with btc.
Luna gap remains untouched
USDC spot Flight gap up remains untouched
20k-34k PA Range
30k POC acting as resistance
Bearish bias since ETF stall out
Think, they get pushed back till JAN
This month will be the ark rejection
if not imagine we keep trend chading up
Time will tell these are my parameters
I think, DOJ Binnace & tradfi sell off would give...
Building the narrative on Bitcoin / CME BTC Futures :
Bearish channel with "SBF Gap Down" yet to be filled at 35k, I was a fan of us filling that but price is beginning to lag.
Bullish side there was strong bull flag formation with the "ETF/BTC Spot fillings at Black Rock and Fidelity" due to extremely high demand from consumers. 20k BTC is the CME gap yet to be...
We warned on CRYPTOCAP:BTC before it hit the staunch 30k mark.
Days later on a pullback took a LEVERAGE trade and sold close to the top.
(Personal trade. For the Fund we accumulated long ago, much lower)
Since then we've been SHORT term bearish on #BTC and waiting for some type of bottom to form.
#Bitcoin hasn't shown solid signs until recently.
Early this week...
BTC on CME ($BTC1 ticker).
Super nice structure.
1) Price dip and grind below 50m reset the open-interest and attracted a large amount of new short positions. A trap was set.
2) Breaching higher from here confirms past 2 days was a spring: Measured move is to 1.618 fib of $34k and it will get there quick if the move plays out.
3) CME is trading higher than...
- If the price break out the 29690, we wait the pull-back and BUY after confirmation of rejection.
- If the price DOESN'T break out the 29690, we make SELL after confirmation of rejection.
The main chart is the ratio between Futures on BTC and S&P500
👉 Bitcoin CME Futures contracts are equal to 5 bitcoin, as defined by the CME CF Bitcoin Reference Rate (BRR)
👉 E-mini S&P500 Futures contracts are equal to 50 x S&P500 Index
Special remarks
😀 The Support Area and Resistance Areas are as highlighted on the chart.
😊 Since Bitcoin CME Futures were...
This is the current state of CRYPTOCAP:BTC using a 1Hr chart.
The circles show the resistance and support levels tested.
As you can see, the support levels have been tested MUCH MORE than resistance levels.
#BTC must move away from this, support, area ASAP.
The longer it stays here the weaker the support area gets.
For example; think of it as punching holes...
CRYPTOCAP:BTC intraday.
VS
CRYPTOCAP:TOTAL 3 = No #BTC or EETH.
4Hr Chart:
What's the 1st thing you notice?
(sorry, cannot show the 4 charts here. Pls see profile for more info)
Hint, look at those big moves. They were on the SAME DAY!
1Hr Chart:
#Altcoins, as stated few days ago, look VERY GOOD.
#Bitcoin is not down and out. It is simply RESTING. IT had a...
