$BTC - has NEVER touched the Lower BB on the Monthly chart EVER!!...Now only $3k away, wow
#Bitcoin
also note the width of the bands on this high time frame...It will take a long time to even come close to tightening them up again
$BTC - this Bear Market continues to be very similar to the 2011
#bitcoin
bear market where a large descending triangle broke down then formed a corrective ascending triangle which broke down and continued to bleed out for over another 50% drop before the bear market ended...♾⤵️
#Bitcoin
consolidations happen in parallel channels... 🛏
Expansions are parabolic... 🚀
The end of consolidation is confirmed by the break of the upper channel resistance...🕺
So far this is the first consolidation NOT to occur after achieving a new All Time High🤔
$BTC - the last time the Both indicators on the Weekly Stochastic RSI were topped off at 100,
#bitcoin
dropped almost 40% which would put the price somewhere around $2400 area...
$BTC - had a rally similar to this recent one back in 2018 where the ‘golden pocket’ resistance stopped the bullish advance and
#bitcoin
retreated rather quickly back to where the rally originally began... history repeating...?
$BTC Lots of history for
#bitcoin
on November 12th.
3 years ago, the LAST DIP under $300 and on its way to $20K
2 years ago, the LAST DIP to $5500K before $20K
1 year ago, the LAST CHANCE to sell at $6300 before a 50% drop
Today $8750
#LASTCHANCE
or
#LASTDIP
...?
#bitcoin
RT
$BTC - the last two corrective moves after parabolic advances declined 85% and 75% respectively...So lets just split the difference this time at 80% using $33K as the top...see you at $6,000 area ?
#bitcoin
IF you are holding
#alts
or plan to add to your positions...ask yourself what the
#crypto
market would look like with $BTC sub $5000 or much lower..or $ETH sub $150 or much lower..How much will your
#altbags
be worth then. Not trying to scare... and not all coins created equal...
$BTC - based on the recent price action I have more confidence that
#bitcoin
can go much lower, its correlation with global equities continues to suggest that it will go lower if stocks go lower... the lower BB on the Monthly chart has never been touched, thats my target zone 🎯
$BTC This is the first close below the MA200 on the 3DAY chart since 2015 Once the MA200 on the
#BITCOIN
3Day chart was broken in 2014 retested and rejected several times.. it took almost a year to retest and finally break through bullishly setting the stage for the next bull run
$BTC - It cant be understated how important the low $30K area is. The bounce from there literally brought
#Bitcoin
to ATH in 2021...Meaningful above but status quo below...
I’m overwhelmed with gratitude for my 30k followers...
I will continue to share my best ideas in fun, creative and insightful ways...
I am very excited about what the future will hold...
Here’s to the next 30k...Cheers...!
Chonis🕺🙏🏻
$BTC - monthly MACD flirting with its first Bull cross in over 3 years...as well as first positive
#bitcoin
Hystogram in over a year...
Need month to close out for confirmation, initial touches tend to get rejected on the first attempt to cross...
Through continued open debate and discussion will we all become better traders and chart readers. I have learned a lot from my new twitter friends and look forward to growing with all of you as we embark on this journey together...very excited about what the future will hold...
$BTC - the parabolic angle of Bullish continuation is now at the mid 80’s degrees ..
#bitcoin
at this angle should see continuation happen at a faster rate than the previous advances in order to maintain the steepening vector...the angle can dip into the 70’s and still hold trend
$BTC why has
#bitcoin
found support where it has so far
The rising diagonal line has held support above the overall price since 2012...It has been tested twice through the years and held support
...suffice it to say a break below would be notable on the WEEKLY chart
$BTC - I guess it’s possible that
#bitcoin
finds a bottom exactly a year to the day that it topped off...
...seems a little too coincidental or maybe that was always the plan🔝⬇️🔃
$BTC - Since Bitcoin $20k every oversold bounce (1) has been followed up by a lower high bounce (2) that gets rejected right around the .55fib extension of the previous bullish impulsive move. Breaking this trend has
#bitcoin
closing over $4k otherwise another strong rejection...
The $6k area was tested multiple times as support before it finally failed. This area now constitutes a significant Resistance.
If the $3k area is the true bear market bottom should said area be tested more times to confirm its real strength?
Break the Red or Green line first?
$BTC - we are now in the zone where the last
#bitcoin
blast off move rose above the Bullish Kumo cloud twist, where after the back test in the red cloud accelerated out and never looked back...if this were to repeat this would put us very early into the next parabolic advance 🤔
$BTC - Moments of intense FOMO can test you as a trader, irrational exuberance can cloud your judgment, don’t throw out the disciplines that you have learned, pick your trades wisely, take profit to ensure the next trade opportunities can happen...
$BTC Since the H&S worked so well on the down side then maybe the invers H&S will work just as well on the upside where a measured move from the head to neck line would take
#bitcoin
up to the established resistance line...note the formation of the right shoulder tests $10K again
$BTC - In 2015 it took 224 days for
#bitcoin
to establish a higher low and bounce 150% before correcting 40%...🧐
This time is has taken only 53 days for
#bitcoin
to find a higher low and bounce 150%(so far)...🤔
A 40% correction from here puts $BTC around $5,000😲
$BTC - the “Line Chart” alway gives a different perspective than candlesticks... could argue
#bitcoin
is just backtesting previous resistance turned support and right at the test level... Daily chart
$BTC - Do you have a plan for a BULL or BEAR break?
#BITCOIN
is getting very close to a major inflection point!
Is an inevitable
#ETF
approval the game changer or is the
#bakkt
endeavor the bigger deal?
How many times can $6k defend?
$BTC - with such symmetrical precision in
#bitcoin
consolidation over the past week...the break will be apparent and set the next multi Thousand Dollar move in price...
#BITCOIN
will find a bottom when and only when a critical mass of people BUY, HODL and keep loading
#BITCOIN
no matter what the price... when demand for $BTC exceeds supply... At what price would you buy and hold no matter what...?🤔🌙
$BTC - monthly candle closes in a few hours...
The first break of the middle BB produced a bounce,
Similar to last year when it was touched for consecutive months but once support failed... so fell
#bitcoin
Note the lower BB has not been tested in years currently around $2500
$BTC - BULL BREAKOUT of the confirmed Ascending triangle consolidation...
RSI above 70, Stoch and MACD bull cross and positive histogram
OBV lower high with
#bitcoin
higher high...
Horizontal and Fib resistance right around $10,000
$8300 area now Ideal support for continuation
$BTC This is the only trade I’m interested in today. If
#bitcoin
pumps to the green line I’ll short it. If it breaks lower support I’ll patiently wait for a scalp long around $9K, either way I expect to be in and out rather quickly, this is not the environment to hold trades open
$BTC - amazing to think that all of these bullish moves are happening under the ascent line from the 2015-18
#bitcoin
bull market, and a bit of 2019... the real move doesn’t even start until its reclaimed which at this point is above $30K
$BTC (CME futures) updated meaningful gaps...many said that it was crazy to think that the gap in the lower $3k area would ever be close to filling... I have no doubt it will...As will the other higher ones, no time limit on either...
#bitcoin
$BTC - still backtesting up against a meaningful line of support turned resistance even with the higher high on the weekly
#bitcoin
chart... obviously a break and close above this line would be significant as would a notable rejection candle...