Bitcoin is about to go boom! Bitcoin has been putting is some near term lower highs and lower lows.
The daily chart trend is starting to breakdown and show signs of distribution.
The weekly chart trend is still ok but even if we had a flush to 40k the Weekly chart would still display higher lows.
The point of this higher low excercise is to define trend and know that trends can often have a large range.
That being said I think a short setup in BTC is brewing. a retest of the 50 & 100 MA will likely prove to be very strong resistance as we keep losing the key larger term MA's.
As banks and potentially the stock market lose some momentum its going to be interesting to see how crypto is going to hold up.
COIN-M
Bitcoin is about to make a large move!BTC has lost some key technical support levels.
The weakness displayed in crypto has come while the stock markets have been incredibly strong
Its never a good sign when you see BTC getting rejected at double top.
The previous ATH at 69k seems to be really keeping price action in check.
BTC has 2 channels converging around 57k - 59K.
Don't be surprised if we see more sellers in the next couple weeks.
Util we break the bullish neckline, the 94K price is only a dream.
Is Bitcoin ready for the next leg up?Bitcoin is fighting the short term trend.
its lost the 7 day moving average over the last few sessions. Bulls retraced and tried getting above.
The have not been successful at confirming above the key trend.
A 4 hour Head & Shoulders pattern has triggered but on watch for a potential bullish reversal.
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Bitcoin & crypto bouncing, time to buy?Bitcoin tagged the EMA 113 today on the daily chart and has bounced superbly.
Since the etf approval, Bitcoin has sold off. This did turn out to be a buy the rumor sell the news event.
Since BTC is bouncing does this mean its time to load to boat on crypto stocks?
I personally thin BTC/ Crypto has 1 more flush to the downside before a bigger move unfolds.
Im looking for a 50% retracement of the entire crypto market cap.
Crypto stocks & Bitcoin slaughtered!Stocks like Coin, Mara, MSTR all got s=demolished this week on the back of BTC having a 11% pullback from highs.
Bitcoin is forming a weekly reversal candle that is extremely bearish.
This candle could indicate a near term top in the crypto market.
If we get a weekly hammer reversal expect a 50% retrace on the bearish candle, this means some crypto stocks could be in for a dead cat bounce.
Bitcoin near term top!Bitcoin saw a nasty Daily topping tail on volume.
So far it appears the ETF news is a sell the news event.
Despite BTC selling off slighlty the decline really wasnt all that bad respectively.
Compared to some of the equity market signals we got in the crypto stocks today. The likes of Coin, Mara, MSTR, WULF, RIOT...all saw some nasty daily reversal signals.
The fact that crypto stocks sold off so greatly its showing the most speculative investors are getting cautious around this Bitcoin resistance level.
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NWC - Short-Term and Long-Term View!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for NWC.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
Bitcoin Detailed Top-Down Analysis - Day 53Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
53 out of 500 days done.
I truly appreciate your continuous support everyone!
Let me know if you like the series, and if you would like me to change or add anything.
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich