Looking back at my last idea, we didn't like the volume and wanted to see a move below 40k as it was a psychological support. Also we were talking about 39.5k for a while (we bottomed at 39.6k), we just had nice confluence below 40k. If you look closely at the chart I shared with you in my last idea (link below), you can see that I market 40.5k for an SFP before...
Follow up on my last idea where we were talking about the 41k support level, which for now is still holding very nicely with a SFP that we got 2 days ago : I don't like the volume. I know most people are expecting much lower and whatnot, but to me there are still not enough people shorting, even after the SFP that we got 2 days ago, I don't like what I'm...
BTC has finally taken the low of the wick (41.2k) as we were expecting (Elliott wave count linked below) We are now bouncing off the daily level at 41k To me, this is now a good long setup. As I said in my last update I didn't want to long at the weekly (43k), but here I believe it is a nice one. Of course, if we lose that level we still have 39.5k as an...
In my last update I gave you the triangle and said that if we broke to the downside I would like to see BTC go for 39.5k as it is a key level in my opinion. However, we are now at an important support: You can see this high time frame fib speed, where the .618 has previously been respected very nicely. We are retesting this .618 which is now in confluence with a...
Quick update : BTC is in a descending triangle If we break to the upside with volume support, 1st target is 48.5k If we break 48.5k it would represent a market structure change and show strength, at this moment we can we be looking back for the high of this range (52k), with the only major resistance being 50k If we break the triangle to the downside, we have...
As I said in my update, we got a swing failure pattern at 52k and could expect a move to the lows of the range should some levels be lost. After the SFP we got a constant decline without any bounce really to where we are now (lows of the range) As you can see, we have this channel which was formed between the 16th of November and the 3rd of December before the...
In my last update I gave you the range we were trading in (between the daily and weekly), and the potential support we were looking at if we lost the range (fib golden pocket 49-50k for a flip of resistance into support) We lost the range and tested the low of the fib golden pocket, before getting back in the range, testing the daily at 50.6k twice, moving to the...
In my last update I gave you the fib golden pocket as resistance, and said that if we broke it we had high probabilities of pushing to the weekly. We ended up forming a range below the fib golden pocket, swing failure patterned the lows then pumped straight to the weekly which is also the high of this range that we have been in for almost 3 weeks now. For this...
BTC broke out of this triangle that we have been in for a while now, and we are now at resistance. The 49-50k area is a big resistance area (fib golden pocket, VAH, low of an old channel), so we have nice confluence here. If we see a change of market structure on the LTF (5-15min chart) you can start looking for shorts. If we break this resistance area we have...
Whether we are expecting higher or lower on the medium to longer time frame, BTC will break the low of the wick (42k) I'm going to show you the bullish count, as in what will happen in the bullish case in my opinion. We have completed an intermediate wave 1 (blue), and we are now correcting for wave 2. Wave 2 correction is playing out in an ABC, the AB pivot...
BTC has been moving up as we expected as everyone is now bearish. The levels of resistance are the weekly at 51.8k which we are at now A bit higher we have the daily at 53.8k in confluence with a 1h order block and then obviously we have 56k which was our big level of support before the big drop. Below us as support we have a high volume node (HVN) at 50.7k then...
In my last update I told you that I lost my bullish bias on the higher time frame. After looking at general market sentiment and how people are feeling, the big majority are now feeling very bearish and are not expecting a recovery for Bitcoin anytime soon. And if you've been following me for a while, you know that I believe that 95% of traders are almost always...
We talked about 40k for a while now, and that we didn't want BTC to go back this low. Well we just have, BTC touched 41k and is now at 47k To me this is a very bearish sign, confirming a bearish EW count. For this reason, I'm now personally out of all my swing longs and will remain in swing shorts that we've had from 68.5k and 58.9k (we can still take scalp...
In my past few ideas, I said if we lose 56.3k it would be pretty bearish I also gave you the monthly level which we rejected 3 times giving you nice short opportunities. Today when we lost the range we recognised a lot of people were longing and the higher probability was to go lower. We dipped to the weekly level that we have been looking at for quite a while...
We have broken the range that we were in (monthly at 58.8k and daily at 56.3k) We are now at the fib golden pocket and we have a lot of longs opening (indicating a higher probability of going lower) If the fib golden pocket doesn't hold expect lower prices (at least low 50s) If it holds and we reclaim the daily at 56.3k, look for the high of the range (monthly)...
BTC is currently in a range, the monthly being the high and the daily at 56.2k being the low. If we lose the daily we have the fib golden pocket below it at 55.3-55.6k, which I would like to go for as we have a decent amount of people longing, plus we have trapped longs at the monthly. This doesn't mean we have to dip, but it just makes it more likely. If we...
Yesterday I told you about the daily support at 53.8k and the possibility of opening longs. Today we got a beautiful SFP before pumping and we have now reclaimed the daily at 56.3k If you guys have been following me for a while you know we love SFPs, so I hope you didn't get stopped out, it was a great opportunity to add to your long (after seeing the wick of...
Some of you have been asking me why we are bouncing here. We are at a daily level as you can see on my chart So we are at support which is holding for now If we lose it you know the 2 levels below us around 50k If we start moving up, reclaiming the new daily at 56.3k would look pretty bullish EW update (see my last post) : wave 5 (this drop) was pretty quick,...