REPORT HIGHLIGHTS:
The fourth bitcoin halving event, scheduled on or around April 19, 2024, heralds a significant transformation in the cryptocurrency landscape. This halving, marked by the reduction of bitcoin supply subsidy, the emergence of a liquid investment ecosystem via CME Group futures and options, the advent of spot Bitcoin ETFs and the introduction of...
➖ This is now a high probability trade-setup.
➖ The bearish potential is very strong.
➖ The down-move has a high probability to happen next.
This is the situation we are in now after months and months of being too early but the market conditions will continue to evolve, fluctuate and change.
We have three days red; first time since January.
We are about to enter...
Logarithm. Completion time 1 week. Instead of updating an old idea regarding the Nasdaq Index and BTS on pump cup formation published on 06/17/2023, I decided to implement the idea on a live chart.
Comparative analysis. Fractal. Lag. Bitcoin and Nasdaq
17 06 2023
I have applied the cup percentages as well as the cup with handle if formation occurs (high...
BTC has reached the top around US$ 73700 on March 14, 2024 as it was clearly explained in previous publication.
Since that it's gone around 1 month till now, and no one new high was printed in BTC.
Bulls fade. Robust gain de-established. Upside bubble-alike trend transformed into detrend structure with flat top near US$ 73000 per BTC.
RSI (14) is sluggish...
In STF, CRYPTOCAP:BTC has many times avoided breaking down the trendline. With "Iran news" this trendline has broken and now CRYPTOCAP:BTC trying to reclaim the trend zone. Declination from 69K means the "bearish" retest succeeds and now bloodbath for #altcoins
NOT FINANCIAL ADVICE.
The analysis of the BTC/USD 3-hour chart highlights a possible parabolic expanding megaphone pattern. However, it's essential to approach this interpretation with caution due to the inherent limitations of such chart formations.
Understanding the Expanding Megaphone:
The expanding megaphone pattern is a technical indicator suggesting increasing volatility. It's...
CRYPTOCAP:BTC following so far. As it is just the beginning of the potential path, proceed with caution once it breaks $57k as FWB:42K would be the next stop after that. Day by Day everyone.
Pump for Bitcoin Spot ETF and Havling in Fall 2023.
Top around March/April 2024.
Failed Halving Pump.
Bad economic climate in 2024.
Liquidity Event.
Recession in Fall 2024.
Crash to sub 10K.
Bottom sometime in Fall 2025.
This is the CME chart where we can see the Bitcoin GAPs.
In the range of 66360 - 64190 we have a GAP that may be filled.
We have also had a bearish CH and the price has reached supply.
If the gap fills up, it's a good time to look for buy/long trades
A very distinct pennant formation on Bitcoin. Pennant patterns are more often continuation patterns, and not reversals, especially since there's not earnings report with crypto unlike stocks.
Something to watch out for next couple of weeks,
Ending diagonal BTC v USDT lead into a Bull Trap. Probable build up to a bull trap and Elliott wave down trend, See previous post. Gartley = Positive but can only know when we have more data. Trade safely.
I have back tested this and there are 4 downward points of interest, all the wat down to 32K!! Don't think 32 will happen , but never retested. The white circles are where I have buys in, I do think that the low will be a kiss down to the circle between the 6.18 and the 7.86, the previous high before this run has never been tested either. when the market runs up...
As we closely monitor the current trajectory of Bitcoin, it's evident that its strength is diminishing, prompting a thoughtful examination of our strategic options. In navigating this landscape, it's imperative to remain agile and responsive to market dynamics.
Should we witness a loss of the 65475 mark within the span of this week, the scenario of adopting short...
That CME gap that was created on 22 March has finally been Filled.
For me, the pressure has been on PA to Dip back into that gap to fill it and so we have been ranging above it for weeks.
This takes the battle lines between Bulls and Bears to a higher level.
PA can move on.
But will It ?
Hong Kong just approved BTC And ETH ETF's.
We may see outflows from USA...
