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Bitcoin - They blew up the rocket?

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Enjoying the moves recently and very very interesting to see the institutional transition.

Giving 9 out of 10 calls are still "moon shots" I feel the Elliott formations/Wyckoff structures are starting to look to be in play.

Going all out on a limb. I would like to see from here, a liquidity grab around $30k, or on the next confirmation long is a break and retest of 72k.

See the previous post for the main reasons behind a drop.

However, to summarise it Institutional money would like to buy long but at a discount. That could be near a 50% mark and not really dent the sides.


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Look at the date of this image. I still think the move down is for breaking hearts
& making Phat cats fatter! snapshot
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snapshot Looking at the shorter timeframe, it's also showing key levels now. Resistance above but some heavy support below. So we can expect a little sideways action (or a messy down move)
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snapshot Some more key levels. Very short timeframe (30m)
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Well - step one played out nicely. Stochastic favouring the phase 2 drop also. snapshot
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snapshot Bitcoin really is becoming respectable. Let's see how it dances through the next phase of this move.
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Look at the level here and at the image 3 back (in updates) dated 21st March. snapshot
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snapshot Pushed towards the 618 before the drop
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snapshot Which was the higher of the two 'Local' areas of interest.
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Would LOVE now the move to only go to 54,000 ish level. Making a lower B instead of back to the 8Hour Order Block. Something like this... snapshot
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snapshot next levels of interest.
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snapshot Area 57 in play
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snapshot as per the other post
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snapshot We have since tagged area 57 from the image above on the 26th of March. this one refines a potential spike and drop area.
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snapshot Interesting levels of Regression & X-Trend here also. So feeling more likely to see the drop from here.
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As A happened mighty quick. I have adjusted A - (same levels) just in alignment with what happened. As it moved exactly to the level predicted just a little faster. Reassessing B - The Pullback now should not be much higher. It's tagged area 57 from the post on the 26th of March (again quicker than expected) so now B comes down and E comes up.
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Updated image from the 27th snapshot
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See a couple of images above. Pretty respectful she is becoming.
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snapshot Back to the original - Price did not slow down for the potential LPSY. So B still in play. Worse case it makes a UT/UTAD as momentum now is mostly Bearish.
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Was liking the idea of a shallower pullback from A - but it's been stubborn and went all the way 😁
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snapshot Daily Timeframe update - as per the post; it's just much faster than expected. Aligned A & B to the time stamps same levels at work.
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snapshot rather respectful (Still)
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And 24 Hours later - Resistance still playing it's part. snapshot
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Take a look at the stochastic levels - Daily, Weekly & Monthly...
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Beyond Technical AnalysisBitcoin (Cryptocurrency)BTCcryptoETHForexTechnical IndicatorsmayfairmoneyUSDWave Analysis
Mayfair_Ventures
Discord Server for education and advanced techniques: discord.gg/5t3w47raHe

Masterclass Webinar: mayfairtradingevents.com

Prop firm partners (FTMO)
shorturl.at/hBEQ4
Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.