Paraman666

Paraman666

Bitcoin is currently testing very strong resistance, if we manage to close above 62k and stay there for few days, then new ATH will probably be inevitable. On the other hand, if we see rejection from current level, price will very likely drop down to 50k. 50%/50% IMHO.

Paraman666

I consider funding rates on crypto exchanges as the most useful indicator, whether we should be selling our bags or rather buying them with all our purchasing power... I think the chart speaks for itself.

Paraman666

BTC finally made higher high and higher low, so some temporary low should be set. We get above strong resistance at 18k and price should inevitably go up to 26k, to grab some liquidity and rekt all short sellers. After we hit 25-26k, we should see stronger pull back to the downside. Not sure at all, if that low at 15k was the final low and btc will be in uptrend...

Paraman666

BTC Dominance set top at June 2022 and after sharp 40% decline, the btc dominance is moving up, in bearish channel, aka bear flag. After this bear flag breaks down, I am expecting another big decline in btc dominance - that means, that altcoins would heavily outperform bitcoin in that period, so it seems like a good idea to be buying alts instead of btc right now.

Paraman666

ETH has been leading the way last weeks, which is pretty rare, usually the BTC is the one, who is in the charge, but not right now. ETH dropped 80% from all time high, however this move seems to me like typical ABC correction, the length of wave A and C is pretty much 1:1, so I think this ABC correction is done right now and we will soon testing the upper...

Paraman666

BTC broke super important support at 30k and I think this downtrend move is not finished at all. We are seeing very bearish sentiment in past several weeks, however the amount of liquidations isn´t that big and I want to see huge spike in liquidation, for some longer term trend reverse. I think, price of BTC will be moving "sideways" between 10k - 30k in the rest of 2022.

Paraman666

Most of the altcoins are on all time lows, the huge volume is going into those coins and I think, they are forming bottoms right now. We have very solid divergence on daily RSI on BTC Dominance -> this chart should find top and retest nice support at 1350 (at least). IMHO very good opportunity to buy altcoins at the moment, though this could be just mid-term...

Paraman666

TRADE #1 ended on stop loss, however we got big rejection from 42k, this is without doubt impulse leg to the downside and we should see follow through and next waves to the downside. I am already in SHORT position, my entry is at 42800$. Also you can check my new YT video regarding this trade, where you can see my approach to this trade.

Paraman666 Updated 

I think bitcoin is almost ready to move out of this sideways range and I think, price will move DOWN. In this sideways range, all I can clearly see are 3-wavish moves to the upside, however moves to the downside seems 5-wavish - that´s why I have opened SHORT trade, you can clearly see my stop loss and take profit level, but I may change my TP level. Also check...

Paraman666

BTC still looking solid, despite some american stocks took big dive (FB, NFLX), bitcoin is looking very good. We are probably still in some sort of 4th wave, which should result in move up. More detailed view in my youtube premier video, that I have just uploaded ;)

Paraman666

There is really great risk reward SHORT setup on bitcoin right now. We have clear 5-wave move to the downside and if my EW count is correct, then we should see another 5-wave move to the downside. Invalidation level is at 45900$.

Paraman666

A lot of similarities, not convinced at all, that this will play out, it´s just an idea to share..

Paraman666

ADA didn´t hold very strong support at 1$ and there is not really any close strong support below 1$, so we might see another fast decline below 0,5$. However, if ADA manage to get above 1,1$, then this could have been just a fake breakdown and we might see quick reversal to the upside. But until we are below that strong trendline and below 1$, things are not...

Paraman666

I personally think, that BTC is currently trending down and price will go down below 29k. We have clear 3-wave move to the upside, which should represent 4th wave and now we should be in the final 5th wave. The only thing that really concerns me is the BEARISH SENTIMENT, which doesn´t support my thesis, that price will be trending down in next weeks. So in LONG...

Paraman666

It looks like Russel index finished simple ABC correction and trend to the downside will continue very soon - we have nice leading diagonal as a wave 1, so I am expecting 5-wave move to the downside.

Paraman666

I have just opened long on bitcoin dominance futures. It looks like ABC flat correction off the top is completed, so altcoins should be underperforming BTC in next days/weeks - altcoins will be dropping much more than BTC, or BTC will be pumping much more than altcoins (well if I am right).

Paraman666

Triangles are typical as a 4-wave correction, the theoretical pivot of the triangle is at 51,5k and if this is indeed a triangle, we might go sideways for the rest of the year, which would probably mean huge altseason, due to the bitcoin stability.

Paraman666

If this is indeed big ABC flat correction, the structure must be: 3-3-5 - we don´t really have 5 waves in this last segment of the chart + there is huge amount of liquidity below 29k, so I think it is very likely, we will eventually go there. Buying below 29k seems to me like no brainer.