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 :)
I couldn't for the life of me figure out what was going on with BTC over these last few days, but there was something very familiar with the way it's been creeping along..
Then after a comment on my previous idea from @ychangsinata it hit me.
(Possible) BEARISH GARTLEY nearing confirmation here on the 4hr.
Fibs are almost TOO perfect -keep in mind,...
Price action in this consolidation... Double Busted Symmetrical Triangle? .. Bull Pennant? ... Bull Flag?... Complex Inverse Head and Shoulders?
Whatever, whoever -is responsible for this incredibly sloppy price action (since reaching a new ATH) has NOT made forecasting these movements a very clear task..
Waiting for some significant volume to determine if...
Hope you're all off to a great start to the week.
After staring at this dang chart 24/7 since this correction began, I believe BTC is consolidating in this HORIZONTAL TRIANGLE before one last move to the upside.
Typically, PARABOLIC moves out of BTC conclude with a blow off top.
The horizontal triangle is a pattern that consists of five sub-waves that form...
This pattern, the "W" -double bottom is a continuation AND reversal pattern we've been seeing on lower TF since the rally from $3.5K, it was only a matter of time until we started seeing them appear on higher TF ( fractal ).
I am BULLISH until proven otherwise.
Some (tentative rules) for ID:
Entering the “W” Pattern
(A - B) The pattern begins at an impulse...