this is an update to a idea i shared a while back breaking down the state of crypto. as time has passed, fiscal policies have been set in place, and more unwinding of market structure we now have a clear pic for Q4 -Q2 and that is bullish AF
starting off with the 1M
WE can see that the mcap has did a 80% retracement which in my eyes is the golden level for crypto pull backs. also it looks like a controller candle is forming this month if it can hold then that is a key signal to be bullish for the rest of year next up 1w
1W
WE can see similar structure but a 2nd leg can be seen forming as time of this post if the 2nd leg holds we should be green this month with nice gains across the board. along with the second leg a cc is also forming on the 1w along side with the 1m which is confluent with the overall and higher tf idea. the cc on the 1w comes in at the 80 level at the start of q4. the first target will be 1.13t mcap.
1D
the 1d is showing a small pull back inbound after testing the daily high at 1.01T
you can also see the third leg/drive came in at 900b in alignment with the 80 level so on all time frames you can see one idea being played out. i will be looking for a pull back possibly all the way down into the 72 level before rising again .
NOW lets look at the dialy and weekly btc breakdown
1W
now this chart is a lil more sloppy because it is my actively traded chart. that out the way i want to draw attention to the overall structure starting with the structure balance at 19.7 with the second leg being formed from this level. right with the 2nd leg being formed we are also getting a possible cc for the bulls. this is something we want to see for trend shifts and possible reversals. the first level i will be looking for is 24.5
1D
VERY SIMILAR to the mcap structure we can see it is being tested by the 1d open. whats even more important is how price held strongly at these levels and still is holding up pretty good over the weekend indicating that smart money hasnt started booking profits which in turn means they are aiming for higher prices. if they are looking for higher prices the my eyes are on 20.1 for a entry pull back and if it goes lower 18.9 form there the first higher target 22.4 then 24.5. the week coming will be all the evidence we need to see if we will being going to the moon OR GOING TO 10K UNTILL THEN TRADE YOUR TRADES
starting off with the 1M
1W
1D
you can also see the third leg/drive came in at 900b in alignment with the 80 level so on all time frames you can see one idea being played out. i will be looking for a pull back possibly all the way down into the 72 level before rising again .
NOW lets look at the dialy and weekly btc breakdown
1W
1D