🅱️ Bitcoin Short-Term (55K ^ 59K Explained) vs ALTSBTC

19 มี.ค.

Good Monday my fellow Cryptocurrency trader, let's look at Bitcoin together short-term.

Q: What do we have here?
A: This BTCUSDT on the 1h Timeframe.

Signals
➖ We have lower highs since 14-March.
➖ We have a major drop 5-March, coupled with decreasing volume.

These are mild signals.
Still early when we consider the bigger picture but it won't be early for too long.

👉 Short-term targets we are looking at 59K easily followed by 55k. This move would be a continuation of what we saw in early March.
👉 In March, Bitcoin turns red.

Boost if you want to see an update on higher timeframes, say daily/weekly and/or monthly.

Leave a comment with everything you have to say...
What's the point? Just share!

Share your thoughts, your views and your opinions... And then comeback for more.

Your support is truly appreciated.
The Altcoins are doing great.

Make sure to make the switch from BTC to ALTSBTC while the correction takes place.

Namaste.

19 มี.ค.

บันทึก

4h Timeframe


➖ 0.5 Fib. retracement support level breaks.
➖ Volume rise.
➖ Bearish continuation.

These are bearish signals.

As for bullish:
➖ Still within a higher low compared to 17-Mar 4:00

20 มี.ค.

บันทึก

The first target has been hit ~62,000.
The chart points to additional bearish action (lower).

21 มี.ค.

บันทึก

🅱️ A Reaction | Watch out For Fake Moves

Each time a strong level is hit, there is always a reaction.
When there is a strong move to either side, this move is followed by a reaction to the contrary direction, don't get caught off guard.

How are you doing today my fellow Cryptocurrency trader?

This is just a quick and friendly reminder for those who enjoy my work.

Bitcoin dropped toward 60,000 from a peak of 74,000 in a matter of just six days. This is a 17.5% drop.

Yesterday a full green candle enveloped the previous days candle and this can in some cases lead to confusion, in other cases to hope and even to making wrong decisions and finally money lost.

The action we are seeing Bitcoin perform now is commonly called a pull-back or rebound. This isn't a continuation of the bullish trend nor a challenge of resistance, simply a reaction to the recent drop.

How to trade?

The way professionals and experienced traders approach this type of chart/reaction is by selling. The theory goes something like this: "We are in a down-move, any pull-backs and rebounds should be used for selling."

Any market move counter to the newly forming trend can be used for selling.

In short, you can sell Bitcoin each time its price goes up.

I hope you find this information useful and timely.

If you boost this trade idea I can post more updates or new ones.
Just leave a comment letting me know.

More frequent updates on every move?
Yes = boost!

Namaste.

21 มี.ค.

บันทึก

Here we are seeing the continuation of the bearish move:
We can see a break of the down-trendline but a failure at resistance.

The failure at resistance leads to a lower high.
The bearish bias remains intact.

4H:

22 มี.ค.

บันทึก

The lower high has been confirmed and Bitcoin is now battling with the first trendline we draw, it has been extended to the right, see here:

It moved above resistance in the form of the trendline but failed to pass beyond fib. resistance.

The fib. resistance produced the lower high and now we have a bearish continuation.

The bearish continuation implies lower prices.

The entire Cryptocurrency market will be affected negatively when Bitcoin crashes, please be aware!

Namaste.

22 มี.ค.

บันทึก

Bitcoin produced the strongest top pattern and price action at new highs since November 2021, signaling that the top is in.


The next move will be really fast and strong so Bitcoin can drop between 10-15% in a day. It can take a few days but it can also happen really fast.

➖ BTCUSDT is trading daily above EMA21 with a bearish bias already confirmed.

👉 The next target should be 59,000 short-term but will break really fast.
👉 A test of 55,000 and low around 51,000-53,000 says the chart, this is the first stop.

It will continue moving lower for days or weeks.
It will need to perform a bottom pattern, accumulation, reversal signals and then the next wave.

We will track the process closely but it can extend.

Just keep in mind that the first crash will be fast and some 20-30% will disappear to not comeback for 6-8 months.

Feel free to prepare.

Namaste.

23 มี.ค.

บันทึก

What we see in a big scale, big timeframe, can also happen in a small scale, small timeframes.

We have a higher low yesterday; support is hit immediately followed by a small bounce. A new lower high being produced.

➖ Notice how Bitcoin is now trading within the two trendlines short-term:

The bias remains bearish.

For bullish potential to be considered or go back into play in this chart setup, Bitcoin needs to move and close above 68500. Moving and closing above 66666 is a good start.

Any trading below 65,000 and the bearish bias remains strong while we wait for lower prices.

24 มี.ค.

บันทึก

The weekly session closes today so we will have good info coming in.
It will be the first time Bitcoin closes red two weeks straight after major bullish action this year.

Look at this chart, 2 weeks per candle:

Since September 2023, there is only one red session in January 2024; the rest of the action is one hundred percent bullish.

The market tends to gravitate toward a balance.
Strong growth can be balanced through a correction or a long consolidation phase.

The highest volume in a year is coming in now and always closing red. We have the highest daily volume in more than a year recently, negative. Same with weekly and likely monthly when March ends.

These are all bearish signals.

The market will move down, breakdown and stay down for a while and then start the new bullish phase. From our vantage point it might seen something minor but when it starts unfolding it feels big, heavy and strong.

While the correction low can be hit within weeks or months, it can take a long time before we reach the same prices we have today. It can take 8 months for example...

On the weekly timeframe, confirmation is already in:

Here we can see a new All-Time High, last week.
Last week closed as a Doji and red.
Last week produced a strong drop with high volume as well.

The action this week confirms the signal produced by last week Doji.
The Doji can represent indecision and upcoming change.
After coming at a new All-Time High, the market is undecided if it will continue forward or retrace.
This week going red means that the market decided to stop growing rather than going forward. The ATH Doji is thus confirmed as a peak/top signal.

Unless Bitcoin goes full green tomorrow, we can expect months and months of lower; prepare to wait many, many months before reaching a new All-Time High... Most likely it will happen in 2025.

If you want to see more updates, please boost this trade idea.
If I see many likes I will know you want to see more updates and will do so more frequently.

Your support is appreciated.

Namaste.

25 มี.ค.

บันทึก

🅱️ A REPEAT OF MARCH 20

This is what we see happening here, a repeat of March 20 on 24-March.


➖ Notice the big green candle March 20.
The volume is high but still lower than the previous red days.
This session is followed by two red sessions.
Conclusion: Volatility.

➖ 24-March we have another big green candle.
The volume is really low.
The candle is smaller than the 20th.
Lower highs still in play...
Conclusion: Volatility.

The bias remains bearish.
We continue aiming lower.

Note: A new week is starting and Bitcoin continues to move within a bearish bias. It is possible to see the initial part of the week or initial days go green just to see the week end strongly red.

We adapt to market conditions, but the bears have been waiting for their chance and it is already here... Caution is advised. Bitcoin is set to move lower next.

Namaste.

25 มี.ค.

บันทึก

On the 1h timeframe the chart structure changed completely. Instead of lower highs now we have higher highs and higher lows:

Trading volume is really high which support this bullish move being real.
While the move is good it is still early, notice the resistance (light blue) on the chart.

👉 Bitcoin can be setting the stage to continue higher or produce a wider lower high.

If we consider some previous updates, we will go with the lower high... But we read the chart.

Namaste.

25 มี.ค.

บันทึก

So far we have a lower high, we are using this as an opportunity to short.


It is a good move though for the bulls so caution is advised.
Time is needed for confirmation.

We continue with the same bias.

26 มี.ค.

บันทึก

We have a new Bitcoin SHORT this time with 8X.
This setup is high probability... You can use the trade idea below to find the full numbers:

Current action is indicative of a lower high or dead cat bounce coming off the new All-Time High.

Bitcoin is pointing down.

27 มี.ค.

บันทึก

A move like this one can complete the lower high...


Notice the volume and the upper wick...

27 มี.ค.

บันทึก

Indeed... The 4h timeframe has gone strongly bearish yet it has two more hours to close:

This might be it...

29 มี.ค.

บันทึก

The pattern we have so far today is similar to a bearish engulfing pattern:

While the wicks are not covered the candles body is full red, that's to say, today's red candle encompasses yesterday's green candle —can be a bearish signal.

4h and daily we are still looking at a lower high.

We are literally looking at top prices, the highest ever.
It will go down strong after being high up...

31 มี.ค.

บันทึก

The entire move since sharing this chart... Notice that market conditions remain the same:

➖ We have a peak 14-March.
➖ This peak leads to a retrace.
➖ The retrace leads to a bounce and the action remains within a lower high.

The bigger picture is up.

Short-term the potential is bearish based on the recent retrace.

Negative news so far failed to affect the market in the usual expected way, this is a bullish signal.

Events that are perceived as strongly negative so far have no effect on the market and this is a signal of strength but we need to be cautious because this can be just the start of seeing the "mood" change.

Market sentiment can change in a day.
The price can take its time but tends to follow.

Bitcoin's price and chart continue strong.
We continue with a bearish bias on Bitcoin on all the pairs that are trading near resistance or at All-Time Highs.

Namaste.

2 เม.ย.

บันทึก

Mercury goes retrograde 1st April 2024, today.
Notice a change in Bitcoin's price pattern.