Bitcoin Indicators + Altcoins Market

15 ส.ค.

I am back my dear friends and this time I activated all the indicators I used in the past to better extract trade-numbers... Uff, boy!, I can say this surely makes a difference.

Let's start with the weekly timeframe:

➖ The week is already halfway through and there is no significant rise. The first half green, the second half red. Or, 2-3 weeks bounce followed by drop (see the latest Solana trade idea).

➖ Bitcoin is trading below the fast moving EMAs (8, 13 and 21). Bearish potential is always active, valid and superior below these levels.

➖ The RSI is weak, while the MACD is trending full down with a red histogram.

Multiple factors need to change for this weekly chart bias to switch from bearish to bullish. It is currently bearish.

Bitcoin daily:

➖ Bearish cross between multiple moving averages.

➖ Bitcoin is trading daily (which is a super strong signal) below EMA8/13/21/34/55/89/144.

The trading below EMA55, EMA89 and EMA144 fully confirms a mid-term bearish bias. It is already in place, developing and active. This is old news but these indicators confirm what is already happening.

➖ Both the MACD and RSI are bearish (trading within the bearish zone).


Conclusion

The speed/force with which Bitcoin crashed after hitting 70,000 on the 29th of July is the most important factor to consider. The bearish momentum was just too strong. The time Bitcoin traded above 70K was just too short; less than 15 minutes.

When we look at how Bitcoin is behaving after hitting a major low, 49,000, we can learn a few things.

There is no buying pressure, no buying momentum; no bullish strength. It's been ten days since the crash and no major recovery is present. No trading volume is present. No buyers are present.

The small recovery, price bounce, is fully based on artificial price manipulation by whales looking to continue selling but at higher prices. They want retail to "hold their bags" as it is famously said around the cryptocurrency space.

Unless Bitcoin turns bullish, we can only conclude based on the available data that lower prices, and a lower low, is expected to happen next.

Since the bearish consolidation has been going for ten days already, this event is much closer than what anybody might think.

Once the impulse starts, there is no going back.

Think of this, when prices are rising, you see them rising without stop. It goes and goes and goes; one even wonders, "Is this possible?", and it keeps on going. When there is a stop it tends to last for a few weeks and then the trend resumes. Think of the same but in reverse.

There was a major drop, the bearish impulse in full swing and now there is a period of consolidation. This consolidation can normally last between 1-3 weeks but this one will not get to three weeks, two weeks is more than enough because there are no buyers around. And those inflating the price can remain in a bad position if they continue to do so. Remember, there are many powerful players right now and many become desperate or break their agreement when they see everything going south. That's why they need to send all their BTCs to one single entity because if they don't, they would just start selling whenever they feel like it. But the game is a big one. These big entities can control the major portion of the market but they cannot control the market. The market has and gives lessons to everybody. If you try to corner the market big time, big manipulation; it can go fine but when it goes wrong, you get big time loses and big time trouble. It works both ways.

The other major and most important dynamic is the time it takes to move money around. It takes quite some time to plan and move billions. And in this case we are talking about billions upon billions upon billions.

I can smell in the air at least 30-40B moving around, ready to move and already moved. Let's call this a "cash stack."


Altcoins

The situation with the altcoins market is complete. The whales are ready on that portion of the market also.

I will explain why the game can't change in a week or month and the reason it can't be changed just because some information is being shared/leaked/released.

It takes 3-5 months to plan and move money around; the same. Once done, you can't just take it back.

Think of this: I have 1billion that I want to invest in altcoins, how do I go about it?
You see?

The planning starts, it takes weeks.
Who is going to custody the money?
Which exchange or how many exchanges?
How is the money going to be transferred? Cash, property, stocks, bonds, digital, gold, etc.

And then there is another whale, and another whale and another one... And they must plan between each other or else the market can get out of control and out of control means no sure profits. Since Bobby B. cannot delay or what for Peter C. to change his mind, once the deal is in it has to go forward; the show must go on.

And so it takes half a year to prepare the stage, the scenario for them to give us a great show. Money flows from one side to the other side and since these are big numbers, it takes time.

We are just spectators in this game. Our numbers are insignificant compared to the amount to buy and sell. That's ok... They earned what they have, they do what they do because they can.

Want to get to the top?
Work on yourself and forget the market.

Namaste.