Today its Sunday and we havent yet dropped. It's very common in these situations for coins to be making descending triangles, so I will wait for the money to be taken on AVAX. I will be shorting AVAX at the price shown, as well as adding BTC short at whatever price BTC is at, when AVAX is at this price. I cannot say a figure in mind for BTC at the moment.
Happy New Year!! This may be my last chart for a bit, as there are too many bulls criticising any form of bear ideas with no reasoning, and it's difficult to have intelligent discussions until realisation kicks in. If Bitcoin keeps going up and breaks 69k, I would be happy, as the world would not be as fk'd as I thought and things wouldn't be so bad as they...
The UTAD (Upthrust After Distribution) is complete. Ethereum can now complete its' ABC correction. Target 1 - 444 Target 2 - 259 Good luck bears!
Opening a Short here so we can go back down to support
We have to convince Buyers it's going back up before dump - this is a good opportunity to open a Long until the trend likely continues down. In other words after 1876 its too risky to hold a long for me.
Many buyers aren't recognizing the potential danger of what could be about to happen. We are well in favour for a Black Swan whether that be ETF rejection or World War 3, but given the way S&P500 looks it could be World War 3 or some economic disaster, as I expect stocks to fall too.
Looking to retrace back to 27.1k, below 28k where lots of Stop Losses are. 27.1k is a unique spot that not many are expecting. We topped at 5.618 now we can go 2.236
Looking for a good chance to Short SPX down to about 3k! We have hit our impulse fib of 46.97 which is an Anagram of the potential price. Let's see if it hits directly Monday open.
Noting this trade down that I'm taking here - BTC can fall back to the Weekly trendline at 28k ish, possibly even in the low 27's I expect.
Bitcoin should drop now due to many factors including weekly etc, noting this down as the next trade target as 28k is too aggressive (we may bounce first for a correction so im trying a Long there) All major liquidity gets taken at this point
Currently Short from 43.2k, switching Long at this zone as it is the bottom of the channel and the imbalance from the bottom impulse. We can target 42k next
Got a top Short here on INJ expecting $10 USD next
This chart is on the basis that this is still a Bear market, and that Bitcoin has topped for its lifetime. In this case, we could see a drop to just above 6k, and a rally to 60k before finally dropping to 0 and getting phased out under Government ruling. Do not consider this impossible as we have Central Bank Digital currencies and Bitcoin can be phased out...
In the scenario that this is indeed Accumulation, then we can target 16.7k to buy Bitcoin. If you think this is unrealistic, wait until it happens, because you will be selling. The other scenario im entertaining is 6k, but we will see what happens here first. Get ready for the big crash :)
23.5k could be an important point, im marking this analysis down so I can bare this in mind for a possibility next year.
23.5k is right below the 24.2k buyers, and quite a fair bit above the 21.3k buyers, which means buyers dont get filled, and sellers get rekt. I would say this would be a good point to aim for Short and switch to Long if you are very bearish.
Would you buy here? Looks like an Upthrust coming on the Inverse chart! This looks a lot like a top, we are looking at a possible drop to 34.6k next. Bulls be very careful!! We have a lot of liquidity to grab!