DickDandy

DickDandy

Bitcoin is currently at an ideal entry for a high R/R short based on the trendline shown - targeting 34,200 to 35,000. From that level, I will look for a retrace up to 43-46k. Rejection at this zone can indicate a much more substantial drop to sub 20,000 zones. All details on the chart - will update with a new idea if Bitcoin follows through on this expected drop.

DickDandy

I suspect that Bitcoin will break down and hit 7,000 to 10,000. I’ve heard many remarks about this being unrealistic or impossible, but the reality is the chart is respecting the prediction and trendlines. While bitcoin can execute a zig zag pattern (34,000 - 45,000 - 8,000) - it technically doesn’t have to. If the TA pattern supports a move to be executed by...

DickDandy

Bitcoin has broken down this trendline shown and retested - suspected area is 58,850 to 59,100 This shows me an early indication that we will see this zig zag pattern take place. 59,000 to 34,500 - 35,000 35,000 likely to rise from there and retest larger bearish breakdown at 43,000 Rejection at 43,000 means short to 10,000 I carry NO BIAS as a trader. I...

DickDandy

This is a critical time for Bitcoin and that’s because of the US Dollar. DXY has shown a major breakdown on the 3 month chart, and is undergoing a bearish retest. Here’s some crucial moves and pivots to watch for to determine where Bitcoin could go. IF BTC STAYS BELOW 60,500 to 60,700 This is a more local bearish trendline on the daily and you can watch for...

DickDandy

Bitcoin has broken down 2 major bearish trendline. These are two potential paths so long as these trendlines are being respected. This far they have been. Scenario 1 (Most likely) 60,400 - Drop to 31,000 to 35,000 Retrace to 47,000 to 49,000 (Retest of the more significant breakdown line) Drop from 49,000 to 6,000 to 10,000 Scenario 2 (If Bitcoin rises...

DickDandy

Bitcoin (as puzzling as it may seem) has been respecting this trendline on both the HTF and LTF. The potential resistance lines are marked on my chart - however it’s likely the resistance line is located at 60,500 - so I’m watching closely right now to see volatility enter and drop speed. This drop (assuming it occurs) would be incredibly fast. Those open gaps...

DickDandy

DXY is completing a major bearish retest currently - on the minute time frames. This breakdown is a multi-month trendline, and what the DXY / Bitcoin correlation would indicate, is that we can expect an extended bull run of 1-2 years. This rise in bitcoin has been a straight shot up on the high time frames. What this tells me is that this move is a bearish...

DickDandy

Here are key points of the way I approach Bitcoin, that I feel are unique and worth mentioning. 1. The vast majority of bitcoins movement is caused by stop loss orders cascading one into the next, and performing pre-determined chain reactions as they are filled. The market is dominated by futures trading; and this has a major effect on the spot price of Bitcoin....

DickDandy

Here’s an updated chart for my Bitcoin short I shared. Currently logging trading this whole move, which I will post later on. Enjoy!

DickDandy

This is why Bitcoin is trading in its tight consolidation pattern. Hard crash incoming.

DickDandy

For those who have been following my Bitcoin prediction; I am expecting a major drop from around this current price point.

DickDandy

DXY is showing a major breakdown and a small move to retest the breakdown - per my own analysis. DXY has served me for years with timing bitcoins movements. Per my analysis and prediction, we are about to tank hard and fast. Long stop loss chain reaction to a very low price - don’t rule out 8-10k as a possibility. God speed

DickDandy

Bitcoin is back at the first entry on this massive short idea. We did rise up to fill the higher entry. Per my analysis what Bitcoin is truly doing - is weaving above and below this major bearish trend line. What looks like a wedge, is rather this interaction above and below this bearish trend line. Zooming in can show a clear cut through and respect on either...

DickDandy

Bitcoin is back underneath this bearish trend line, and appears ready to crash from approximately the 68,300 to 68,550 level. Personally I am expecting a flash crash to occur in correlation with DXY breaking down and retesting a bearish trend line on the weekly / monthly chart.

DickDandy

I have shorted ETH from the current price of 3,860 suspecting a substantial drop - aligned with my recent Bitcoin ideas - prior to the forex market beginning the week. DXY is showing a bearish breakdown on the one month - leading the way of a lengthy extended bull market. I suspect that prior to this upside, BTC and ETH will be liquidating out long positions...

DickDandy

I suspect a massive short on bitcoin to take place. This is because DXY is showing a bearish breakdown on the monthly - with only a small upwards movement left before anticipated rejection from this bearish retest. This means an extended bull market - and this weekend period utilized to wipe long positions prior to this occurring. There are two major short entry...

DickDandy

The TA is showing a possibility of Bitcoin tapping this ultra low. See my previous posts for explanation and a deeper dive.

DickDandy

orm case for the reasoning behind Bitcoin hitting $10,000 and why it’s not as unrealistic as you may think. 1. 10,000 marks the bottom of a bearish trend line I have marked on the linked chart 2. 10,000 corresponds with a bullish retest of a HTF chart pattern marked on chart 3. DXY looks ready to collapse - and with a falling US dollar over the next 0.5-1...