BTCUSD: Weekly trend continuation signal
Updated
We might get a nice move out of this juncture. #BTCUSD formed an accumulation level here, potentially, and already flashed a daily and then weekly trend signal. Targets are the cyan boxes, and in a very extreme case the red box target. I personally think it might not break higher than 2019 highs, hitting resistance near 12150, but, I will go with the flow here. Already long from a tad lower, and also in a few altcoin positions with 30% of the portfolio as well for a few days.
I can see the total market cap rising 35% roughly, within the next few weeks.
This signal aligns with the #XAUUSD chart I posted as well, and with the idea of #SPX breaching the previous all time high before seeing a drop again. If the market is sideways for 9 years like yearly Timemode charts suggest, a perfect sideways enviroment would be one where we reverse after trapping everyone on fake breakouts...
In the case of #XAUUSD, this might be a very extreme sentiment peak once it breaches 2011 highs. I'm looking forward to it.
Keep an eye on the inverted head and shoulders crowd, many people like some particularly notorious veterans who use classical TA patterns will spot one once we break out over 10500, if we do. And this pattern will give them a pretty lame target of 17k , which I think won't be hit given the current macro situation. Would be good to sell our coins to the guys counting on that happening before it drops...Keep an eye out for that, sentiment should turn mad bullish again near the top.
Best of luck to all my followers and clients.
Cheers,
Ivan Labrie.
I can see the total market cap rising 35% roughly, within the next few weeks.
This signal aligns with the #XAUUSD chart I posted as well, and with the idea of #SPX breaching the previous all time high before seeing a drop again. If the market is sideways for 9 years like yearly Timemode charts suggest, a perfect sideways enviroment would be one where we reverse after trapping everyone on fake breakouts...
In the case of #XAUUSD, this might be a very extreme sentiment peak once it breaches 2011 highs. I'm looking forward to it.
Keep an eye on the inverted head and shoulders crowd, many people like some particularly notorious veterans who use classical TA patterns will spot one once we break out over 10500, if we do. And this pattern will give them a pretty lame target of 17k , which I think won't be hit given the current macro situation. Would be good to sell our coins to the guys counting on that happening before it drops...Keep an eye out for that, sentiment should turn mad bullish again near the top.
Best of luck to all my followers and clients.
Cheers,
Ivan Labrie.
Trade closed manually
Suddenly #BTC once again is copying price action in #SPX, and stocks don't look good. News today might derail the hopes of a rally. I'm out of all markets here for now.Trade active
Signal kicked off again: Note
Note
Trade closed manually
Sold all crypto positions today at 11500.Trade active
Bought the dipTrade closed: target reached
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