Will BTC Continue Catastropic Fall to $12k? Bears Ready for War!
Bitcoin Bears are growing in number with each Bull failure to stay above the 30k price range, which they recovered on April 2023 after the November 2022 dump to the 15500 price range. This analysis uses Makaveli Trader's Pandora Box on multiple timeframes.
The Daily chart MT www.tradingview.com/chart/67jbV9fK/ clearly shows a strong bearish candle breaking and successfully closing below the resistance line which in the past during the bull run acted as a strong support line
The Higher Timeframe Box on the Weekly Chart below
It is worth noting that the major chart controlling this current bear market is the Monthly chart www.tradingview.com/chart/67jbV9fK/, the strong ranges on the Monthly chart will make it difficult for the current breakout above range weekly to be sustainable. The current price range of 26k to 30k I stated here
that is worth observing as This range holds a strong busy trading range in the past
On the 4-hour chart, there's a short-term mini pull-up expected from 28400 to 28550 support back to the 29600 to 29800 resistance range after the current 29k support breakdown. However, the chances of buyers staying long above 30k are decreasing, and selling pressure is increasing as the market ranges below a strong resistance zone. A catastrophic fall could hit soon.
The Daily chart shows a strong bearish candle breaking and closing below the support line. This bearish engulfing candle signals a next possible drop to 23800 down to the 22400 range, depending on the strength of the sellers. The Higher Timeframe Box on the Weekly Chart shows that the market has been on a ranged move since June 2022. For the first time in more than 8 months in March 2023, we see the BTC price rally above the range zone to the price of 30k. However, BTC is still clearly in a downtrend on the weekly chart, with no evidence of a clear trend reversal. The strong ranges on the Monthly chart will make it difficult for the current breakout above range on weekly sustainable for bulls to keep pushing up. The current price range of 26k to 30k is worth observing as this range holds a strong busy trading range in the past as it acted as a strong support while BTC was in a primary bull run and is likely to play a major role in resuming the Primary Bear trend.
According to the EPIC Short on the Monthly chart, the bear trend resumes in May June 2023, calling for a leg-down move to HKEX:12800 from this current Bull exhaustion price range. However, there will be mini secondary trends (pull-ups) along the way, which takes us to the Daily Chart
My Trade road map:
SHORT-TERM LONG SETUPS:
📈 FREE MT TRADE SIGNAL 📈
👉 ASSET:
BTC
(BTC/USDT)
👉 ACTION: BUY
👉 1st ENTRY PRICE : $28698
3rd ENTRY PRICE : $28762
👉👉3rd ENTRY :$28850
STOP LOSS: HKEX:28398
👉 1st TP:$29800
UPCOMING EPIC SHORT SIGNAL:
📈FREE MT TRADE SIGNAL 📈
👉 ASSET:
BTC
(BTC/USDT)
👉 ACTION: SHORT
👉 1st ENTRY PRICE: $29900
2nd ENTRY PRICE : $29600
3rd ENTRY PRICE : $29400
👉 STOP LOSS: $30590
👉 1st TAKE PROFIT: HKEX:26600
2nd TAKE PROFIT : $22800
3RD TAKE PROFIT : $19K
EPIC TAKE PROFIT : HKEX:12400
The Daily chart MT www.tradingview.com/chart/67jbV9fK/ clearly shows a strong bearish candle breaking and successfully closing below the resistance line which in the past during the bull run acted as a strong support line
The Higher Timeframe Box on the Weekly Chart below
On the 4-hour chart, there's a short-term mini pull-up expected from 28400 to 28550 support back to the 29600 to 29800 resistance range after the current 29k support breakdown. However, the chances of buyers staying long above 30k are decreasing, and selling pressure is increasing as the market ranges below a strong resistance zone. A catastrophic fall could hit soon.
The Daily chart shows a strong bearish candle breaking and closing below the support line. This bearish engulfing candle signals a next possible drop to 23800 down to the 22400 range, depending on the strength of the sellers. The Higher Timeframe Box on the Weekly Chart shows that the market has been on a ranged move since June 2022. For the first time in more than 8 months in March 2023, we see the BTC price rally above the range zone to the price of 30k. However, BTC is still clearly in a downtrend on the weekly chart, with no evidence of a clear trend reversal. The strong ranges on the Monthly chart will make it difficult for the current breakout above range on weekly sustainable for bulls to keep pushing up. The current price range of 26k to 30k is worth observing as this range holds a strong busy trading range in the past as it acted as a strong support while BTC was in a primary bull run and is likely to play a major role in resuming the Primary Bear trend.
According to the EPIC Short on the Monthly chart, the bear trend resumes in May June 2023, calling for a leg-down move to HKEX:12800 from this current Bull exhaustion price range. However, there will be mini secondary trends (pull-ups) along the way, which takes us to the Daily Chart
My Trade road map:
📈 FREE MT TRADE SIGNAL 📈
👉 ASSET:
BTC
(BTC/USDT) 👉 ACTION: BUY
👉 1st ENTRY PRICE : $28698
3rd ENTRY PRICE : $28762
👉👉3rd ENTRY :$28850
STOP LOSS: HKEX:28398
👉 1st TP:$29800
UPCOMING EPIC SHORT SIGNAL:
👉 ASSET:
BTC
(BTC/USDT) 👉 ACTION: SHORT
👉 1st ENTRY PRICE: $29900
2nd ENTRY PRICE : $29600
3rd ENTRY PRICE : $29400
👉 STOP LOSS: $30590
👉 1st TAKE PROFIT: HKEX:26600
2nd TAKE PROFIT : $22800
3RD TAKE PROFIT : $19K
EPIC TAKE PROFIT : HKEX:12400
Comment:
While BTC Buyers hit the MT Pandora's Box bottom signifying a potential buy opportunity showing that the 27200 to 26600 range is a good point for a bounce back to 29k to 30k resistance zone retest
Comment:
we will wait to see how bulls react to 29400 to 31600 range before we SHORT though we anticipate A dump.
Prepare Your SHORT Guns for a 24k ride
Prepare Your SHORT Guns for a 24k ride
Comment:
BTC has succcessfully recovered for yet another good short swing to continue the me down if Buyers fail to cross 30k from here.
My New Short Entry on this current resistance
📈 FUTURES TRADE SIGNAL 📈
👉 ASSET:
BTC
(BTC/USDT)
👉 ACTION: SHORT
👉 1st ENTRY PRICE: $29400
2nd ENTRY PRICE : $29200
3rd Entry :28900
👉 STOP LOSS: $30147
👉 1st TAKE PROFIT: HKEX:27200
2nd TP: 26,000 3rd TP; 25800
Disclaimer: This signal is for informational purposes only and does not constitute financial advice. Crypto trading carries risk, and past performance is not a guarantee of future results. The user assumes full responsibility for any profits or losses incurred, and the signal provider is not liable for any investment decisions made based on this signal.🥰
📈 FUTURES TRADE SIGNAL 📈
👉 ASSET:
BTC
(BTC/USDT) 👉 ACTION: SHORT
👉 1st ENTRY PRICE: $29400
2nd ENTRY PRICE : $29200
3rd Entry :28900
👉 STOP LOSS: $30147
👉 1st TAKE PROFIT: HKEX:27200
2nd TP: 26,000 3rd TP; 25800
Disclaimer: This signal is for informational purposes only and does not constitute financial advice. Crypto trading carries risk, and past performance is not a guarantee of future results. The user assumes full responsibility for any profits or losses incurred, and the signal provider is not liable for any investment decisions made based on this signal.🥰
Comment:
If at all BTC buyers still intend to visit 30k again, then the current 27660 to 27200 support range will be a good support range to form a new bullish higher low market structure to help hold them up but I see these bulls no get the mind or capital to hold up the run as The chances are now growing slimmer according to the MT Pandora's Box, the break of 27k support will call for a 24k if not 22k support hit next
Comment:
While trading ranges are traps to both buyers and sellers, The MT Pandora's box suggests a move down to 26400 most likely as a result of the weakness of the buyers to hold above 30k resistance area after multiple attempts show lack of follow through As I said earlier the bulls no get mind to break the 30k resistance just yet. so they need back up and they could seek that in the 26800 to 26400 support area. Monday could bring more bears home and push the price down so when we get to 26800 to 26400 we will then see how buyers react to the support if we have more late boomers willing to risk in the capital on that support that could push the price further up as we said the chances of 32k is still not totally dead but for now, sellers still have the higher upper hand.
Comment:
As the price approaches our third target of 24k in the current active swing short trade that we initiated on April 20, 2023, it's worth noting that we plan to pyramid the trade as it progresses in our favor. This means that we'll scale out our profits as the price gets closer to the congested support area ranging between 25200 and 24600.
Bears are expected to strongly push the price down as the bulls respond with increasing strength. However, there's a 65% chance of a bounce around this support range. Therefore, we should consider either locking in profits or moving our stop loss to protect our position.
It's likely that the move down will continue by Monday, with BTC buyers ranging with bears on Sunday. The battle to reclaim the 27k broken support level could be revisited, and if the bulls persist, they may end up making it up to 27800. There's a strong magnet at the 28800 to 29k range, which is an important retest of the declining seller's line by buyers.
The current 27k to 27200 is a mini resistance that could lead to bulls' rejection to visit the stronger support around 25200 to 23800 congested for a good bounce to the seller's line at around 28800 to 29k. This could lead to a clear rejection that forces the price to close below the current low of 25700, while these two supports have possibilities of bounce. Much stronger support lies in the 24200 to 23900 range, which is where our third target is expected to be reached during the coming week.
Bears are expected to strongly push the price down as the bulls respond with increasing strength. However, there's a 65% chance of a bounce around this support range. Therefore, we should consider either locking in profits or moving our stop loss to protect our position.
It's likely that the move down will continue by Monday, with BTC buyers ranging with bears on Sunday. The battle to reclaim the 27k broken support level could be revisited, and if the bulls persist, they may end up making it up to 27800. There's a strong magnet at the 28800 to 29k range, which is an important retest of the declining seller's line by buyers.
The current 27k to 27200 is a mini resistance that could lead to bulls' rejection to visit the stronger support around 25200 to 23800 congested for a good bounce to the seller's line at around 28800 to 29k. This could lead to a clear rejection that forces the price to close below the current low of 25700, while these two supports have possibilities of bounce. Much stronger support lies in the 24200 to 23900 range, which is where our third target is expected to be reached during the coming week.
Comment:
How Today Monday 15 May 2023 will be a Dump Day according to MT Pandora's Box
Trade active:
Our current BTC short trade remains strong, but we should not disregard the current support at the 25700 range which could be retested by BTC again at 25800 a bears leg push before a long scalp kick in to 29k range, even if we anticipate further shorting opportunities. MT's Pandoras Box indicates a potential bullish pullup marked by the blue arrow on the chart, but there is also a 45% chance of a dump at the 25200 support level (white arrow).
The current support level has a higher probability of a bounce, approximately 65%, before a potential further decline. This bounce would encounter its initial resistance in the range of 28400-28680. It's worth noting that market makers may attempt a stop-loss hunt targeting short positions, driving the price towards the 29200-29400 resistance range, and possibly executing a fake out near the seller line around 28400.
Since we entered the short trade at 30400 and have already taken profits at 27200, 26000 and 25800, achieving three targets on our current active trade, we suggest two possible strategies. First, consider taking a scalp-long position as a hedge while maintaining the short position. Start exiting this long scalp from 28400, progressively securing profits. Secondly, plan to close the long position in the range of 28800-29200 and then revert back to the short position by adding to it in the 28800-29200 range.
It's likely that we will continue to observe ranging movements throughout the remainder of May.
Our current BTC short trade remains strong, but we should not disregard the current support at the 25700 range which could be retested by BTC again at 25800 a bears leg push before a long scalp kick in to 29k range, even if we anticipate further shorting opportunities. MT's Pandoras Box indicates a potential bullish pullup marked by the blue arrow on the chart, but there is also a 45% chance of a dump at the 25200 support level (white arrow).
The current support level has a higher probability of a bounce, approximately 65%, before a potential further decline. This bounce would encounter its initial resistance in the range of 28400-28680. It's worth noting that market makers may attempt a stop-loss hunt targeting short positions, driving the price towards the 29200-29400 resistance range, and possibly executing a fake out near the seller line around 28400.
Since we entered the short trade at 30400 and have already taken profits at 27200, 26000 and 25800, achieving three targets on our current active trade, we suggest two possible strategies. First, consider taking a scalp-long position as a hedge while maintaining the short position. Start exiting this long scalp from 28400, progressively securing profits. Secondly, plan to close the long position in the range of 28800-29200 and then revert back to the short position by adding to it in the 28800-29200 range.
It's likely that we will continue to observe ranging movements throughout the remainder of May.
Trade active:
The BTC bear army is growing stronger, putting pressure on the 25700 support level, which appears vulnerable to a potential breakdown. In our previous update, we recommended a long position at the 25800 support range. However, based on recent price action, it is prudent to refrain from activating that long position until there is a significant change in the market structure. This indicates a high likelihood of the price breaking below the 25700 support and reaching the range of 25200 to 24800, with a possibility of further decline to 23800 in June if selling pressure persists.
Currently, we advise against buying and instead focus on increasing short positions. You can add to our existing short position, particularly if the support in the 26200 to 26000 range is about to break. If you are joining the trade now, entering a short position is also a viable option. Remember to utilize a suitable stop loss, with the recommended stop loss for new entries currently set at 27800. Assess the risk associated with this stop loss before initiating the trade.
The probability of a bearish movement is now at 75%, indicating that the next bearish target is expected to be in the range of 24800 to 23800, which is our third target for the ongoing BIG SHORT trade.
It is crucial to refrain from entering any long positions at 25800, as mentioned in our previous update. The market structure has changed, and the support at that level has weakened significantly, making it unlikely to hold against the advancing bearish forces. It is highly probable that the 25800 to 25700 support will break, leading to a decline towards the range of 25200 to 24800.
Currently, we advise against buying and instead focus on increasing short positions. You can add to our existing short position, particularly if the support in the 26200 to 26000 range is about to break. If you are joining the trade now, entering a short position is also a viable option. Remember to utilize a suitable stop loss, with the recommended stop loss for new entries currently set at 27800. Assess the risk associated with this stop loss before initiating the trade.
The probability of a bearish movement is now at 75%, indicating that the next bearish target is expected to be in the range of 24800 to 23800, which is our third target for the ongoing BIG SHORT trade.
It is crucial to refrain from entering any long positions at 25800, as mentioned in our previous update. The market structure has changed, and the support at that level has weakened significantly, making it unlikely to hold against the advancing bearish forces. It is highly probable that the 25800 to 25700 support will break, leading to a decline towards the range of 25200 to 24800.
Comment:
BTC made it to 25800 support range and successfully bounced as we predicted earlier about the support having 65% chance of bulls bouncing or pulling up but remember we said its a weak support and one must be careful going Long here (This support is only good for a Short term long scalp to the 26600 to 26900 resistance range. in fact, these mini bulls bouncing on this support wont last long or withstand the pressure of the bears will hit next from the 26600 to 26800 resistance will drive Bitcoin price down to 24800. this is why I will rather wait paiteintly to add to my short there
Comment:
15mints chart closer view:
BTC Price has reached the 26600 resistance level as predicted by MT's Pandora Box. Buyers are struggling as they face resistance in the range of 26600 to 26800. This resistance zone provides an opportunity for the Bears Battalion to strongly push down the bulls. It's a chance to go short with a target of 24800, potentially doubling the bulls' profits from this bounce
BTC Price has reached the 26600 resistance level as predicted by MT's Pandora Box. Buyers are struggling as they face resistance in the range of 26600 to 26800. This resistance zone provides an opportunity for the Bears Battalion to strongly push down the bulls. It's a chance to go short with a target of 24800, potentially doubling the bulls' profits from this bounce
Trade active:
Comment:
Hello everyone, I am here to provide an update on our BTC Short. In my previous updates, I made some mistakes in my analysis and ended up contradicting myself. I acknowledge that these errors were a result of my impatience. The MT Pandoras box contacted me with a long call from 25800, targeting 28k to 28600. However, I called for more shorts instead. I take full responsibility for disappointing my followers and I recognize the need to improve and follow the MT Pandoras box more closely in the future.
Now, the Box has identified another clear short opportunity from the resistange range of 28k to 28600 range as price to get rejected here . This time, the target is 24800 to 23800. There are bullish movements in this range that may prompt us to exit our current short position, as the bulls might try to eliminate all shorts and push the price up to 31600 to 32800. After that, our short to 12k will come into play. The Box is warning us in advance about the next support level, which has the potential for a final bullish surge. As of now, we anticipate sellers to drive the price down to 24800.
Now, the Box has identified another clear short opportunity from the resistange range of 28k to 28600 range as price to get rejected here . This time, the target is 24800 to 23800. There are bullish movements in this range that may prompt us to exit our current short position, as the bulls might try to eliminate all shorts and push the price up to 31600 to 32800. After that, our short to 12k will come into play. The Box is warning us in advance about the next support level, which has the potential for a final bullish surge. As of now, we anticipate sellers to drive the price down to 24800.
Trade active:
BTC Bulls are preparing to retest the 28k level, currently positioned on the Channel Midline. This minor support provides the necessary capital for buyers to challenge the sellers at the 28k range. However, the bulls may face a setback as the sellers have set a trap within the 28200 to 28600 range, with the rejection area expected around 28250. This suggests that the bulls will likely remain below the sellers' line, within the MT Pandora's box. This situation indicates a potential bearish outcome, with the bears having the potential to push the bulls down to the 24800 support range. In a worst-case scenario, if the bears become more aggressive, a further drop to 23900 is also possible.
Comment:
BTC
Bulls Vs Bears Battle Signal Updates:
📈 🚨 MT FREE ,BTC LONG TRADE SIGNAL 🚨📈
👉 🧿ASSET:
BTC
(BTC/USDT)
👉 🧿ACTION: LONG
👉 🧿1st ENTRY PRICE: $26960
👉 🧿STOP LOSS: 26520
👉 🧿1st TAKE PROFIT: $28200, $28400
Chart Analysis: MT Pandora's Box warns of a Bull mini bounce to retest sellers' resistance area around 28k to 28600 range. Bitcoin price may then experience a possible dump to 24800, as strong bears are gathering around the 28k to 28600 range. We will gradually add to our Long term short position and buy back at 24800 to 23800.
Disclaimer: This signal is for informational purposes only and does not constitute financial advice. Cryptocurrency trading carries risk, and past performance is not a guarantee of future results. The user assumes full responsibility for any profits or losses incurred, and the signal provider is not liable for any investment decisions made based on this signal.
BTC
Bulls Vs Bears Battle Signal Updates: 📈 🚨 MT FREE ,BTC LONG TRADE SIGNAL 🚨📈
👉 🧿ASSET:
BTC
(BTC/USDT) 👉 🧿ACTION: LONG
👉 🧿1st ENTRY PRICE: $26960
👉 🧿STOP LOSS: 26520
👉 🧿1st TAKE PROFIT: $28200, $28400
Chart Analysis: MT Pandora's Box warns of a Bull mini bounce to retest sellers' resistance area around 28k to 28600 range. Bitcoin price may then experience a possible dump to 24800, as strong bears are gathering around the 28k to 28600 range. We will gradually add to our Long term short position and buy back at 24800 to 23800.
Disclaimer: This signal is for informational purposes only and does not constitute financial advice. Cryptocurrency trading carries risk, and past performance is not a guarantee of future results. The user assumes full responsibility for any profits or losses incurred, and the signal provider is not liable for any investment decisions made based on this signal.
Comment:
The current support is facing a stoploss hunt as our initial entry at 26960 with a stop at 26520 was cleared to 26488, which is a common issue in trading ranges. However, the channel is still holding to the midline. The MT Pandoras box remains bullish and is still calling for a long position. Therefore, it is advisable to consider a second entry at the 26669 to 26800 zone, with a stoploss set at 26300. This is because there is still a high probability, over 65%, of BTC reaching the next level at 28k.
Trade active:
2 / 2
The bears have failed to contain the bulls below the MT Pandora's Box, indicating a strong bullish sign. This suggests that the bulls are likely to retaliate strongly, potentially leading to a bear hunt in the 32k to 34k range. This would complete the upward trend for the bulls and provide an opportunity for stronger bears to short at a better price, potentially reaching 12k.
Additionally, the bulls have a chance to take profit. Currently, MT Pandora's Box is bullish, reflecting the BTC Bulls Vs Bears Battle Signal Updates. It is recommended to pyramid the long entry and our exit, similar to what we did with our shorts. Regarding our current active Long Term short position entered on April 27, 2023, at 30400, we should take up to 85% of the position at the current support level. The remaining 15% should be closed if the price exceeds 28600.
📈 🚨 #BTC FREE TRADE SIGNAL 🚨 📈
👉 🧿 ASSET:
BTC
(BTC/USDT)
👉 🧿 ACTION: LONG
👉 🧿 1st ENTRY PRICE: $26k, $25850, 2nd $25200, 3rd $24800
👉 🧿 STOP LOSS: 23700(tighter but more risky stop is 24700)
👉 🧿 1st TAKE PROFIT: 1st $31800, 2nd $32400, 3rd $34k
The bears have failed to contain the bulls below the MT Pandora's Box, indicating a strong bullish sign. This suggests that the bulls are likely to retaliate strongly, potentially leading to a bear hunt in the 32k to 34k range. This would complete the upward trend for the bulls and provide an opportunity for stronger bears to short at a better price, potentially reaching 12k.
📈 🚨 #BTC FREE TRADE SIGNAL 🚨 📈
👉 🧿 ASSET:
BTC
(BTC/USDT) 👉 🧿 ACTION: LONG
👉 🧿 1st ENTRY PRICE: $26k, $25850, 2nd $25200, 3rd $24800
👉 🧿 STOP LOSS: 23700(tighter but more risky stop is 24700)
👉 🧿 1st TAKE PROFIT: 1st $31800, 2nd $32400, 3rd $34k
Comment:
Today has been a challenging day for the cryptocurrency market, particularly for Bitcoin (BTC) While altcoins including ETH broke support today 10/06/2023, BTC is still trading above the last low so far. The crucial factor to consider is BTC's current support level, which it is striving to hold at 25,200. If BTC drops below 24,800, the next target range would be between 23,800 and 23,600. Unfortunately, this aligns with our previously identified third short-term target which was made at the beginning of this post in April. In my last previous signal, I recommended gradually accumulating long positions starting from the 26,000 down to our anticipated 24800 range. However, I also mentioned that if the price entered a range from June 6 onwards, the likelihood of reaching 24,800 would increase, making it the next probable target from here but first 24800 must be cleared for this to occure. Since we have already closed 85% of our long-term short positions, it is likely that we will add to our short positions, while keeping in mind the intention to buy within the support range of 23,800 to 23,400. Our most recent recommendation was to start buying gradually, starting from 26,000 and down to 24,800. We made this recommendation based on the indication from the medium-term indicators that there could be a drop to that range. However, it is possible that this support level will be breached, leading to a potential range of 23,800 to 23,600.
Comment:
Remember our
BTC
LONG?
THIS TRADE IS STILL FRESH AND ACTIVE!
we called to start buying in pieces from 26k down to 24800, if BTC doesn't drop Below 24800, expect a bullish retaliation.
our Long stays open, the probability of bounce remains 65% base on MT Pandora's box.
BTC
LONG? THIS TRADE IS STILL FRESH AND ACTIVE!
we called to start buying in pieces from 26k down to 24800, if BTC doesn't drop Below 24800, expect a bullish retaliation.
our Long stays open, the probability of bounce remains 65% base on MT Pandora's box.
Comment:
BTC price reached 24800 and is currently bouncing, which was our last buy opportunity based on the last signal we sent. We anticipate a move towards 27200, then 27700 and finally 28k, with minor pullbacks along the way. This LONG position is expected to reach 32k.
Due to the length of this post, I will only update it again when we achieve the long target of 32k to 34k range. At that point, we will take another BIG SHORT position to reach our 12k target by 2024. For now, I will create a new post to provide updates on the long trade before the BIG SHORT.
Due to the length of this post, I will only update it again when we achieve the long target of 32k to 34k range. At that point, we will take another BIG SHORT position to reach our 12k target by 2024. For now, I will create a new post to provide updates on the long trade before the BIG SHORT.
Related Ideas
