BITCOIN - A CLEAR BEARISH HEAD AND SHOULDERS

2 ก.พ. 2023

Hello friends,

It was already some time since my last published idea, so here is a fresh one!

You can see here that a head shoulder formation has formed on this 3-day chart
The neckline is immediately a crucial point. We have a divergence with the volume and price as you can see. There are also divergences on several other oscillators.
A picture say more that a thousand words, so you see it all in the chart


The price target for now is USD 10,000 for Bitcoin, and the key here is of course patience. The interest rate hikes are far from done and the macroeconomic looks very bad. The war also seems to be escalating, and there are other tensions in the world as well. E.g. China/ US, Israel and Iran.
Food prices continue to rise. Food prices continue to rise violently. In short, we see everywhere malaise.

My idea is that the Euro and the Dollar are being extremely manipulated, but also the markets in general, by central banks. Stock prices are way too high compared to what is happening in the world, and normally there will be a sharp correction on that.
The SP-500 will my idea quite soon go on the downward path again.

Happy trading and good luck!

Disclaimer This is my view, no advice to buy or sell. Also, always do your own research!

--->> Dear friends, please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚

2 ก.พ. 2023

บันทึก

This idea was posted on 3 February 2023 at a Bitcoin price of 23939 USD

3 ก.พ. 2023

บันทึก

Correction, this idea was posted on the 2nd of February instead of the 3rd.

8 ก.พ. 2023

บันทึก

Russia's Foreign Ministry has warned that the US is putting the two nations on a path to direct confrontation by "unleashing a total hybrid war" against Russia.

The Ministry claims the US's demand for nuclear inspections in Russia are "cynical" given the US's alleged assistance in Ukrainian attacks on Russian strategic nuclear forces.
The allegations were made in reference to the New START treaty, the last remaining US-Russian agreement on nuclear weapons reduction.

The situation in Ukraine and Russia is getting more dangerous by the day, and the consequences will have far-reaching consequences for the world.
In the coming weeks and months, we are will see increasingly heavy weapons being delivered to Ukraine, which are most likely also to be used for attacks deep inside Russia and Crimea.

This situation is unlikely to have a good outcome, and that is of a serious concern to the world. Take care of the risks when going LONG friends!

8 ก.พ. 2023

บันทึก

TARGET UPDATE

BTC is now at 22.876 (8th Feb. 2023)

A few targets if we continue to decline:
Target 1 = 22160
Target 2 = 21400
Target 3 = 18500

Good luck

9 ก.พ. 2023

บันทึก

Target 1 at, 22160 USD is reached! Price now 21960

13 ก.พ. 2023

บันทึก

Target 2 at, 21400 USD is reached (Monday, 13th Feb.

15 ก.พ. 2023

บันทึก

Dear friends,

Bitcoin has recently experienced an aggressive 8.5% increase. While some may believe this marks the start of a new bull market, I caution against such a conclusion. This increase is merely an upward movement within a larger downward trend, and may be intended to mislead people.

The volume of this increase is not widely supported, and on February 13th, the weekly 50 EMA crossed below the weekly 200 EMA, which is a highly bearish signal and has never before occurred in the history of Bitcoin.

Given the current macroeconomic conditions in the world, it is unlikely for a bull market to emerge, and we must exercise caution when considering LONG positions. It's important to make informed trading decisions based on your own analysis and research.

Please take care and keep these factors in mind when making your trades.

20 ก.พ. 2023

บันทึก

Hello!

I understand that you're curious about Bitcoin's future prospects. Despite the negative factors such as a heavy divergence in oscillators and volume, as well as macroeconomic conditions, there may be potential for advancement.

If Bitcoin is able to break the $25,500 USD level on a closing basis with good volume, it may re-test that level and potentially reach a target of $28-29k.

However, I must note that there are many factors at play, and in my opinion, this may not necessarily indicate the beginning of a new bull market.

24 ก.พ. 2023

บันทึก

Hello,

It is clear that the markets are reacting to the news that the Fed will need to raise interest rates significantly in order to meet its target of 2%. While achieving this target from current inflation levels is possible, it also poses a significant risk to both the crypto and equity markets.

Not only is there is concern over the macroeconomic situation in the world, but the rising interest rates could also trigger a deep recession. This is a major concern for traders and investors

Furthermore, it is worth noting that the head and shoulders formation is still perfectly valid, and my targets remain unchanged. Currently, divergences and decreasing volume in an upward trend are at play, which could further exacerbate the risks facing the markets.

9 มี.ค. 2023

บันทึก

Hello Friends!

Renowned economist and New York University professor Nouriel Roubini has issued a warning that the world is headed for a "perfect storm" of economic conditions that will likely lead to a recession in 2023. This crisis, which Roubini has been predicting for months, is expected to be a stagflationary debt crisis that combines the worst elements of the 1970s stagflation and the 2008 financial crisis.

The economist explained that the debt ratio in advanced economies is currently 420% of GDP, much higher than the 100% of GDP recorded in the 1970s. This, combined with high inflation and rising interest rates, could result in a great stagflationary debt crisis. This would trigger a harsh correction in equity markets, with bond yields and credit spreads for private sector debt widening, leading to severe financial distress.

Roubini also suggested that central banks, including the US Federal Reserve, will be forced to raise interest rates until their economies fall into recession, which will exacerbate the crisis further. The looming crisis is likely to hit workers, including those who remain employed, the hardest. Stagflation is considered the worst of all worlds for workers.

The uncertainty surrounding the global economy and the potential for a severe recession is likely to be negative for stock and crypto traders and investors. Markets do not like an uncertain future, where at any moment, something worse could happen. Therefore, it is important for investors to remain vigilant and informed about the changing economic conditions and adjust their portfolios accordingly.

It's important to remember that succeeding in the crypto but also other markets requires a well-informed approach that goes beyond blindly following the herd. In fact, history has shown that the majority of traders who follow the herd end up losing their capital in the long run. Therefore, it's crucial to analyze the market using technical analysis tools while keeping an eye on the world around us.

Therefore, it is so important to keep an eye on global events that may affect the crypto market, such as regulatory changes or geopolitical tensions and the economy in general.

19 มี.ค. 2023

การซื้อขายยังคงดำเนินอยู่

IMPORTANT UPDATE!

Hello traders,

The technical picture of Bitcoin has improved significantly. We are witnessing an inverse head and shoulders pattern that has broken through the neckline with above-average volume. The RSI is also strong, although a significant divergence has emerged. Now, the price can rise, and more divergences might occur. This can only be confirmed if the price actually falls below a key level.

What do I expect now? Firstly, the price may rise further before falling, or it could drop rather quickly. The goal is to retest the neckline, which seems like an ideal buying opportunity, with a stop below the right shoulder, of course.

Targets range from 42k to 48k. Set stops generously below 20k.

Regarding the precarious macroeconomic situation that could escalate further, it's possible that people might see Bitcoin as digital gold. The markets are currently being heavily manipulated by the FED and the ECB, as the current situation should have led to massive price declines by now. Rest assured, those declines are coming, as it's a bubble waiting to burst.

This is not advice, traders, but merely my own opinion. As always, do your own research, use a stop loss and employ proper money management techniques.

Happy trading!

24 มี.ค. 2023

บันทึก

Hello Traders,

I would like to share my final analysis on this particular chart. It appears that we have reached a pivotal juncture in the market. If we witness a volume-supported breakout above the present levels, the price is likely to continue its upward trajectory. Conversely, a decline towards the neckline is expected.

Please monitor the situation closely and always implement a stop-loss order if you decide to enter the trade. In the event that the price closes below the neckline with multiple confirming candles, the trade opportunity should be considered invalid. Stay vigilant and trade wisely.

At this moment the price of one Bitcoin is 27728 USD and the neckline of the horizontal inverted Head and shoulders pattern (not drawn in the chart) is 25000 USD