Hello everyone,
This is a result of about a year of analysis on Bitcoin, and I will explain my take.
First and foremost let’s understand the timing of the market - we have several large conduits this week - most importantly the NVIDIA earnings report in just a few hours. This news conduit should be fuel to see volatility enter the bitcoin chart.
Bitcoin has been in a steady upwards trajectory for 1.2 years now - without any major retracement to the downside.
We must ask the question - why? It’s of my opinion that what really moves bitcoin is the stop losses of leveraged positions. Think of these stop loss orders as buy / sell orders that are in place - without automatic fulfillment of price is above / below. In other words, the leveraged (key word) limit orders are in the chart already - as a result of stop loss orders of a direction of trading. Here we have a massive order block below us of long position stop losses - not only are these orders (sell orders) in place - they are leveraged. Meaning a trader with $100 in a long - using 100x - is creating a SELL order for $10,000 below his entry.
If we understand the current chart this way and look at the massive open gaps below us - we can view this as “propellant” to drop the price at incredible speed and distance. Think of this as a chain reaction of orders - not ordinary orders, but leveraged and multiplied orders. With liquidity leveraged, we can translate this into leveraged speed and distance as well.
At precisely the 21,500 to 22,000 location there is a bullish retest as I show with a pair of trendlines. We have the appearance of a bear trap (shown via the pair of bearish parallel lines) - and a measured pole height (shown) taking bitcoin to that exact location - 21,700 approximately.
This is a very large bull flag pattern that can execute a measured move to the 70-80k range following - as we know this is a range of great interest for bitcoin.
So while I do see us hitting this all time high - I don’t see that happening before the 22k zone is tapped very quickly. Not only is this a bullish retest with supporting patterns, we have massive order blocks in the chart to support this, and a substantial news conduit to support this event occurring.
This is my take on key bitcoin levels - and I trust I provide to you enough supporting evidence in the chart to demonstrate this is a product of many months of time and effort.
God speed and good luck to all. We all share the same goal - to understand this bizarre marketplace.
This is a result of about a year of analysis on Bitcoin, and I will explain my take.
First and foremost let’s understand the timing of the market - we have several large conduits this week - most importantly the NVIDIA earnings report in just a few hours. This news conduit should be fuel to see volatility enter the bitcoin chart.
Bitcoin has been in a steady upwards trajectory for 1.2 years now - without any major retracement to the downside.
We must ask the question - why? It’s of my opinion that what really moves bitcoin is the stop losses of leveraged positions. Think of these stop loss orders as buy / sell orders that are in place - without automatic fulfillment of price is above / below. In other words, the leveraged (key word) limit orders are in the chart already - as a result of stop loss orders of a direction of trading. Here we have a massive order block below us of long position stop losses - not only are these orders (sell orders) in place - they are leveraged. Meaning a trader with $100 in a long - using 100x - is creating a SELL order for $10,000 below his entry.
If we understand the current chart this way and look at the massive open gaps below us - we can view this as “propellant” to drop the price at incredible speed and distance. Think of this as a chain reaction of orders - not ordinary orders, but leveraged and multiplied orders. With liquidity leveraged, we can translate this into leveraged speed and distance as well.
At precisely the 21,500 to 22,000 location there is a bullish retest as I show with a pair of trendlines. We have the appearance of a bear trap (shown via the pair of bearish parallel lines) - and a measured pole height (shown) taking bitcoin to that exact location - 21,700 approximately.
This is a very large bull flag pattern that can execute a measured move to the 70-80k range following - as we know this is a range of great interest for bitcoin.
So while I do see us hitting this all time high - I don’t see that happening before the 22k zone is tapped very quickly. Not only is this a bullish retest with supporting patterns, we have massive order blocks in the chart to support this, and a substantial news conduit to support this event occurring.
This is my take on key bitcoin levels - and I trust I provide to you enough supporting evidence in the chart to demonstrate this is a product of many months of time and effort.
God speed and good luck to all. We all share the same goal - to understand this bizarre marketplace.