BWord pump!Hello again, beautiful person!
Just wanted to punch in and say that this pump might be due to BWord conferance which is due today.
The word on the street is that something big will be announced, and the highly anticipated discussion between Musk and Dorsey.
If you are entering the market, just be sure to place your stop losses; because this might be a fake out (Buy the rumour and sell the news).
Stay safe out there!
BTCEUR trade ideas
22k - 20K is a probable possibilityHello wonderful being!
May to July have not been pleasant for Crypto, especially BTC. There have been gains in DeFi and NFT markets, but they have been correcting hard along with stock market and BTC.
The delta variant is threatening another lock down which would devastate the overall market.
This week many large corporates will present their results and their prognosis. This will affect the market.
BTC and crypto is in a downward trend, but fundamentals are still strong along with chain analysis.
Downward motion is expected, and upside would probably happen in mid to late August.
Personally, I have sold some of my crypto in my trading account, in order to have USDC and Euro ready; if or when BTC takes a dive.
Looking at buying into ETH and BTC equally, with some NFT gaming tokens for speculations.
Stay safe out there!
Wish you all a great summer!
BITCOIN got balance, and waits for a trigger to wake up!Since the last time, ATH we got a reversal in BITCOIN, and this reversal downtrend is finished!
BITCOIN price is completely undecided, there is a huge consolidation.
On daily time-frame, we see that price falls in between support and resistance, MACD, and RSI values tends to rest in the middle, which means balance of power between sellers and buyers, technically this means a potential breakout formation in the near future.
Here worth to mention, that false breakout could happen, also sharp reversal could happen.
So, keeping an eye on the chart is what I should do while studying and waiting to catch the cherry ;)
Testing the 2017 ATHSince Fib waves from the top and Golden Genesis Fib are around the same value as 2017 ATH, it seems that we could have another distribution leg down before accumulation. Set your buy orders accordingly, and consider the possibility of a Bull market to resume sooner considering Wyckoff accumulation!
Don't forget the market can be surprising and catch you in your sleep!
Bitcoin Bullish Confirmation, Tringle Patterns & Volume ProfileBINANCE:BTCEUR
At Yellows you see a Bullish confirmation with re-test. Normally this pattern will bull even more.
Green triangle pattern and blue ascending triangle. Waiting the breakout (include the 3 confirmation candles) to see the direction.
Volume profile: It's break upwards after the yellow re-test, waiting to see if it's breakout the 'Point of Control' then normally the price will go upwards or if it's fail to breakout then the price will go back to bear market.
BTC is bearish and bullishI'm seeing a big 'H&S' but also a 'broadening bottoms' pattern. The wedges in price action open outwards which represent increasing volatility. This could break out upwards. But not sure for how long. We can also go sideways for months and it can also drop to the next support level. Time will tell.
Quicker the darkside is. Stronger, notHello beautiful person!
Quick article, just wanted to heed you all a warning if you think about entering or trading.
Price had a very strong support at expected level 25k euro, and bounced upwards.
However it is wise to wait for a confirmation before entering, in order to minimize risk.
Confirmation would come in form of breaking resistant line (previous support), and retesting as a new support line; while holding.
This confirms that downward momentum is lower than the upward momentum, and we can see increase in price or sideways.
Stay safe out there and control your feelings!
Darkside, quicker it is.
Stronger; it is not!
PS
Sorry For the messy chart. It was totally different from preview and to publish.
BTC in sync with previous cycles, bears to stay for nowCapturing the major bull runs from 2017, 2019 and 2021 in one overview.
Comparing these cycles, the bearish phase consistently shows two major support zones. After confirmed death cross in previous cycles, the price broke the 1st support and found support at the lower support. When translating to the current price action, there is an important support at 24k Euro. If the death cross is confirmed, I am expecting further downside action towards the second support zone at 13k Euro at which I am expecting long term bullish sentiment to develop again.
This analysis suggests that price will NOT reach ATH again in 2021, but rather continue bearish and only in 2022 find itself going back up.
Of course, this year has seen institutional involvement more than ever, so it will be interesting to see whether BTC will find solid ground earlier than expected. Let me know what you think.