BTC broke out of the 34-45k range that we were in for weeks, heading for our resistance area (47-50k) that we have been talking about for a while. We rejected around the daily at 48k , dropped into the daily at 44.4k which also represented the highs (VAL) of the range that we were previously in, and saw a bounce of around 6% Now, I believe we have 2 very simple...
In my last update I gave you the resistance that we were at (Daily at 44.5k) before the big 47-50k area. We ended up rejecting the daily for a nice +15% drop until now. I am personally looking for the 34-35k area again for a potential long depending on the reaction, if we lose this level we could end up going much lower. Any questions? Good luck...
Quick recap of everything that happened : Posted an idea when we rejected 45k and weren't looking strong at 42k expressing my interest of a drop to the 35k daily level. We then hit the 35k daily level for a bounce of 30% and have broken above our first somewhat important resistance at 42k without any struggle really (good sign of strength) We are now at our last...
In my last update we recognized BTC's weakness and weren't really looking at any level other than the daily at 35k Today we hit the daily (35k) and bounced 15% We hit our first major resistance (39.3k) which was our last high before the drop So a TP in my opinion if you got into a long Next major level of resistance is the 42k area, very important one in my...
BTC is at the major support that we have been talking about for a while (40.5-42k) and looking bearish for now. If we don't reclaim 42k, I honestly expect a move to the daily at 35k, and if we lose it we can expect much lower prices. If we reclaim 42k it would be a nice sign of strength, but for now we have been in a strong downtrend for the past 2 days. Any...
Follow up to yesterday's idea where I showed you my preferred EW count, here are the levels that you should be aware of. Right now we are ranging between the weekly and the fib golden pocket : - If we break to the downside, we have the major 41-42k support area - If we break to the upside, we have the major 47-50k resistance So we actually have 2 very important...
Quick update, not much has changed since the 33k low (looks good for now) Here is a LTF EW count BTC is in an impulsive move (potential HTF wave 1), we are now correcting in the 4th wave The 41-42k region is very important in my opinion, probably looking for wave 4 to end in that area, somewhere around next week. Then target for wave 5 is the major 47-50k area,...
As we said in our last update, more upside was likely with the next resistance being at 42k On the weekend we consolidated below 42k, forming a channel, then broke out and we are now moving up very strongly. I would say the target for this move is the 47-48k region. This region is extremely important in my opinion and you have to monitor PA should we get...
In my last update I gave you levels that you should be watching, including the YVAL at 39.3k, the weekly at 36.3k and the VAH at 38.2k. You can see how those 3 levels have been respected very well. After my update, we ended up pushing to the YVAL then rejecting it and retracing to the weekly before seeing today's pump. Also, now that we have broken above 39,595...
We are currently bouncing from a strong support level at 36,650 (POC + order block + fib golden pocket) and we have a lot of shorts opening. If we lose it we have a new weekly below us at 36.2k and then a daily with a more important fib golden pocket at 35k (very important support) For the levels to the upside, be aware of 37.7k, 38.2k and 39.3k If we lose 35k...
We broke back into the 1.786 of the fib channel (last idea) after consolidating below it for an entire day yesterday. Levels to be aware of : - Resistance : VAH (38k) 39.6k (which if we break, would be a first sign of a bottom being put in according to an EW count) POC (41.9K) Weekly (43k) - Support...
After the update I gave a couple hours ago, BTC pumped to 37.6k As you can see on my chart, we have this fib channel which has been respected extremely well for a long time, and we are now at the 1.786 which was a clear strong support before it got broken, so now it is a very important resistance. Of course if we break it look for higher, but obviously this is...
We are finally seeing shorts open. Breaking and holding above 34.5k (lows of the range that we broke today) would be a nice bullish sign. Losing 33.4k could trigger a larger drop. I usually don't talk about LTF trades, but here I'm showing you a LTF/scalp trade. If you open longs please take profits on moves up, then move your SL to break-even, if we keep on...
Follow up on my last idea (link below) : In this count, I prefer to take different points for the wave A and B Wave A pushes much lower to 41k, wave B ends at 52k Right now we are in wave C, and we are still working on the wave 3, meaning we still have wave 4 and 5 to come. At the moment this scenario is more likely in my opinion, people are still not bearish...
Going back to my idea where we expected one more drop, our targets got broken through pretty easily and BTC just put a low at 34k Looking at this EW count (honestly it's my preferred one at the moment, we have a bearish one with targets in the mid 20s), we can see that we do have a lot of confluence in this area : Monthly and weekly level, POC, 1.618 extension of...
As we said in our last idea, we believed we could see one more drop to complete the wave 5 of a move down (idea linked below). We have reached our 39k liquidity area and BTC is now at big support (HTF fib golden pocket) First level to reclaim is 40.5k to show sign of strength If we break the fib golden pocket we can expect much lower prices (will update you when...
To understand this idea, you have to look at my previous EW count (linked below) if you haven't already seen it. So, as you know, we wanted to see the low of the wick (41k) taken according to our EW count. This was likely because we believed a wave 5 still wasn't put in. This move down (from 52k) represents the wave 5. And if you look at the daily chart, you can...
We have broken above the first level (43.2k) that we were looking for after the SFP at 40.5k If you look at my previous ideas, you can see that I've had this 47k key level marked for a while now, I even mentioned it in a previous idea as a major level (link below) After the new low at 39.6k, we now also have a fib golden pocket on top of this level, making it...