New Alt Season + Bitcoins Chance to Defend 10k in LTF
Hey TV Community!
Hope this message finds you well remember to take time away from the stock screens and smell the roses.
I am posting a Neutral update for BTC LTF Price forecast since we will see a break within 48 hours or less, regardless of the direction of this break I think we are headed into a small Alt-Coin Season (Once Again!!)
Reasons for Heading into Alt-Season:
+) The amount of Bitcoin people entering DE-FI is higher than the number of new people entering Bitcoin. (De-Fi is not Dead!)
+) BTC Dominance Chart (LEFT): We got rejected by the Ichimoku cloud. (RED CIRCLE CHART ON LEFT)
+) We got rejected by horizontal resistance and did not break out of the downwards channel with significant volume.
-) We can get supported by the bottom of the same cloud (ORANG CIRCLE) if this happens then Alts will take a hit.
Bitcoin TA
Notes on Break Up:
-If we break up I expect us to go claim 11,000 and test 11,200.
-If we break up without significant volume assume it is a fake-out ( Good Short Opportunity).
-Even if we break up now there is no significant upward pressure
There is no guarantee we will not re-visit these price levels to fill CME Gap or due to USA Election.
I recommend checking out this Charles Shwab Article: www.schwab.com/resou...ntial-election-years
Notes on Beak Down :
-If we break down we have a bigger chance of seeing further downside ( filling the CME gaps )
- IMPORTANT NOTE: There is a horizontal support line I have drawn in green on the chart (on the right) at the 10.5k level if we are above this I remain bullish.
- Chances of bearish fakeout are lower due to market sentiment at the moment, any bearish action will cause a mini panic sell at least 1k drop in BTC prices.
If you haven't already feel free to check out my Video Idea from 2 days ago.
Hope this message finds you well remember to take time away from the stock screens and smell the roses.
I am posting a Neutral update for BTC LTF Price forecast since we will see a break within 48 hours or less, regardless of the direction of this break I think we are headed into a small Alt-Coin Season (Once Again!!)
Reasons for Heading into Alt-Season:
+) The amount of Bitcoin people entering DE-FI is higher than the number of new people entering Bitcoin. (De-Fi is not Dead!)
+) BTC Dominance Chart (LEFT): We got rejected by the Ichimoku cloud. (RED CIRCLE CHART ON LEFT)
+) We got rejected by horizontal resistance and did not break out of the downwards channel with significant volume.
-) We can get supported by the bottom of the same cloud (ORANG CIRCLE) if this happens then Alts will take a hit.
Bitcoin TA
Notes on Break Up:
-If we break up I expect us to go claim 11,000 and test 11,200.
-If we break up without significant volume assume it is a fake-out ( Good Short Opportunity).
-Even if we break up now there is no significant upward pressure
There is no guarantee we will not re-visit these price levels to fill CME Gap or due to USA Election.
I recommend checking out this Charles Shwab Article: www.schwab.com/resou...ntial-election-years
Notes on Beak Down :
-If we break down we have a bigger chance of seeing further downside ( filling the CME gaps )
- IMPORTANT NOTE: There is a horizontal support line I have drawn in green on the chart (on the right) at the 10.5k level if we are above this I remain bullish.
- Chances of bearish fakeout are lower due to market sentiment at the moment, any bearish action will cause a mini panic sell at least 1k drop in BTC prices.
If you haven't already feel free to check out my Video Idea from 2 days ago.
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