ILL_Midas

ILL_Midas

Technical Analysis of Bitcoin Chart Using Fibonacci and RSI Fibonacci Retracement Analysis In this chart, Fibonacci retracement levels are clearly plotted from a low near $50,000 (around September 12th) to a high near $63,500 (around September 19th). These levels help us understand where support and resistance zones might form based on past price action: 1....

ILL_Midas

1. 111-Day EMA (Yellow) and 150-Day EMA (Green) Crossover The 111-day EMA (yellow line) is moving below the 150-day EMA (green line), which signals bearish momentum. This suggests that the market is currently in a downtrend or at least lacks strong bullish sentiment. The price of Bitcoin has been struggling to break above both the 111-day and 150-day EMAs in...

ILL_Midas

1. 0 Fibonacci Level (support): The price has frequently touched the 0 level, indicating strong support. Notice that Bitcoin bounced off this level in late June and mid-August, showing resilience. This suggests that buyers step in heavily around these points, preventing further downward movement. 2. 1 Fibonacci Level (resistance): Similarly, Bitcoin hit the 1...

ILL_Midas

Gartley Pattern: This updated chart seems to continue the earlier observed structure, resembling a Gartley pattern. The key points in the structure are: 1. X to A: The steep uptrend from February to the peak around April/May, marking the first major leg of the pattern. 2. A to B: A decline starting from May to around June, signifying the downward retracement...

ILL_Midas

Gartley Pattern Analysis: The structure on the chart resembles a bullish Gartley pattern, particularly the W-shape. A Gartley pattern generally starts with a sharp movement (X to A), followed by three price swings (A to B, B to C, C to D) which often retrace at specific Fibonacci levels. Here's how it lines up: 1. X to A: The first downward leg, where the price...

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Key Observations: 1. Price Level: Bitcoin is currently trading at $62,913, according to the chart. 2. Fibonacci Levels: 0.236: Around the $65,000 range, which has acted as a minor resistance. The price failed to break above this level multiple times after touching it. 0.382: Located near $60,000, which appears to have served as support in recent movements. It...

ILL_Midas

This chart shows the weekly price action of Bitcoin (BTCUSD) from 2021 to 2024, with projections extending into mid-2025. The current price is approximately $63,458, and Bitcoin appears to be consolidating after a strong recovery from its 2022 lows. Let’s analyze the chart's key features and consider how recent Federal Reserve rate cuts may impact Bitcoin’s price...

ILL_Midas

1. Price Action (Candlesticks): Current Price: The price is hovering around $60,141.67, as indicated by the highlighted value. Recent Trend: The candlesticks suggest that Bitcoin has been in a sideways trend for the past few weeks. The price seems to be bouncing between support at around $52,500 and resistance at $66,000. Downward Correction: After hitting the...

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1. Price Movement: The price is currently trading at $59,792.97, with the chart showing recent bullish momentum from early September. The price seems to be facing some resistance around the $60,000 mark, as indicated by the wicks of the recent candlesticks. There's an overall trend of higher lows and higher highs, indicating a bullish trend. 2. Key...

ILL_Midas

1. Bullish Trend Continuation: With Bitcoin currently trading near the upper Bollinger Band and above key moving averages, there is potential for continued upward momentum. Watch for price action above $60,500 as confirmation. 2. Support Levels: The nearest support appears around $58,000, based on the recent consolidation phase, with moving averages acting as...

ILL_Midas

Alright, listen up, fam. Let's break down why Bitcoin's gonna hit that sweet $1,000,000 mark by 2033. First off, let's talk about FOMO, baby! Fear of missing out is real, and as more people catch wind of Bitcoin's potential, they're gonna be scrambling to get a piece of the pie. We're talking about a digital gold rush here, and ain't nobody gonna wanna miss out on...

ILL_Midas

Bitcoin (BTC) has seen a strong rally in the past 24 hours, reaching a new all-time high of **$28,456.00** per coin¹. The leading cryptocurrency has increased by **5.28%** in the past day and by **7.0%** in the past week, outperforming most of its peers². Bitcoin has also reclaimed its **50% market dominance** for the first time since 2021, indicating its strength...

ILL_Midas

Sometime in early Q2 of 2024 the Bitcoin network will experience it's fourth supply cut, Economically I am seeing rapid cooldown of inflation with month over month inflation currently sitting at -0.10 month over month 5 year forward expectation rate of inflation as of today is currently sitting at 2.16 only 16 basis points away from 2% target in my opinion...

ILL_Midas Updated 

Here we can see the PI cycle top flashed early much like 2013 In 2013 it was April fools day when BTC started its correction BTC reached the Center point of logarithmic regression around July 1 This correction was only 3 months in length I do see a similar pattern here, If this plays out like the super cycle in 2013 then my personal targets are: Center of...

ILL_Midas Updated 

Hard rejection off the 111 day MA, Totally wasn't expecting that. Definitely not expecting #btcusd to retrace to 30k

ILL_Midas

Here's where I'm supposed to put something meaningful in how I'm going to make an educated guess but I won't cause I'm guessing.

ILL_Midas Updated 

Here you can see I am a slow and patient bear who ate his oatmeal and slept away Q4 & Q1 For all the stores were bear as well, So I bought moar oatmeal. DXY looks like oatmeal Not that I know anything ser's........ I like oatmeal Me can only buy me oatmeal with DXY Not really feeling like explaining this........I'm sure me shall be shamed for loving me oatmeal...

ILL_Midas

Resistance at the 111 day moving average Looking for back test of support at 30k ultimately looking for it to fail