Wyckoff distribution is so very painfully obvious.
I thoroughly enjoy when the big swingin 🍆's with giant piles of cash don't attempt to hide their tracks, because they don't think they need to..
and normally, they don't. Most countries cannot compete with trillions of dollars in capital that's also likely leveraged.
There's not a doubt in my mind that the...
Should PA break below $32K with volume, then I'm seeing a lot of confluence at
$21.872K and $16.141K
WURST CASE SCENARIO (or best, depending on how you look at it): $8.871K
IDK about you guys (n gals), but I've been waiting for an opportunity like this ALL YEAR.
Some important dates to consider: June 7, 10, 14, and 21.
Venus Mars Conjunct July 12....
Waiting for one more confirmation for the BEARISH BREAKOUT of this pretty large RISING WEDGE (bearish) pattern.
Waiting for a bearish RE TEST of previous support (near) $59.67K.
Price action may break lower here ($56.8K), if so -will need to re think this plan.
I would take a SHORT position on the RE TEST, however.. I do NOT short BITCOIN during BULL...
Chart is looking bullish.
Would like to see more spot exchange volume -but if you consider the liquidity leaving exchanges, the price only has one way to go...
There's always a bearish scenario -especially if we see something crazy happen in traditional markets;
DXY is looking bullish.
Keep an eye on the 10yr rates tomorrow.
Hang on -April is going to be...
There is a very bullish case to be made as well.
Ask any bitcoiner why they believe innit so much and you'll have your answers.
...Traders are net short heading into the CME settlement date expecting further bearish continuation. It’s the going narrative right now.
these shorts are going to get squeezed.
open interest is rising on spot exchanges as well,...
I hope you're all having a wonderful Tuesday, here's what I'm seeing in the charts right now..
- Bullish momentum has slowed considerably since last week
- Price action does appear to be forming a descending triangle, a BEARISH REVERSAL PATTERN
- A move up to $57.5K is expected before resuming formation of the bearish pattern
- Measured move of a break below...
"There exist no episodes where the bitcoin spot markets dominates the price discovery processes with regard to Bitcoin Futures. This points to a conclusion that the price formation originates solely in the Bitcoin Futures market. We can, therefore, conclude that the Bitcoin Futures markets dominate the dynamic price discovery process based upon time -varying...
A few things to keep in mind heading into next week:
1. DXY closed last week BULLISH -while a bullish move out of the DXY will likely be a bearish confirmation, the extent of this bearish re test has the potential to bring the DXY well above 94% on the index.. a 3% positive move in the DXY will result in a LARGE correction out of bitcoin (attached...
For those that say "I wish I would've gotten into bitcoin earlier, it's too late now"...
Here's some evidence of the contrary.
Using historical data and fibonacci ratios of time and price..
$32 - June 2011
$1163 - November 2013
$19666 - December 2017
$370K - (late) 2021 - (early 2022)
$21.3 MILLION (late...
As you can see from the chart, Wookalich Ratio (BTC NVT) is signaling what everyone already knows -even though there was a "flash crash" down to $44.845K, bitcoin is significantly overbought and further downside should be expected.
- Bearish Divergences present.
- Monthly RSI is extremely overbought.
Even though it's hard to be bearish on the...
Trying to frame potential price action, should BTC about to complete a B wave correction.
DXY is looking bullish... a bearish re test of the 21 DEMA would be > 4% positive move.
DXY + 1% : BTC/USD -15%
a 4% positive move out of the DXY suggests a near 60% correction out of BTC/USD.
While this 1:15 correlation loosely fits, it proved useful in mid -late 2020...
"B waves are phonies. They are sucker plays, BULL TRAPS, speculators' paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacency (or both). They often are unconfirmed by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by wave C. If the analyst can easily say to himself (or...
Large sell off we saw yesterday was very quickly bought right back up.
Fundamentals for bitcoin are just WAY TOO STRONG.
Previously posted BEARISH CRAB idea -was/is indeed, a valid chart pattern. However, every time it appears that bitcoin is losing steam -sell offs are quickly bought right back up by institutional investors.
A hypothesis that I am...
Fits within the parameters of a Bearish Crab Harmonic Pattern almost perfectly, and well within the boundaries outlined by Scott Carney (2001)
The critical aspect of this pattern is the tight Potential Reversal Zone created by the 1.618 of the XA leg and an extreme (2.24, 2.618, 3.14, 3.618) projection of the BC leg but employs an 0.886 retracement at the B point...
Two hours until PA reaches the 80% mark of this Symmetrical Triangle.
We'll see if the bulls are still here -may get a fast dip to AGGRESSIVE BUY #2.
DXY is NOT looking bullish. This is great for BTC :)