Long

Updated

Bitcoin Monthly Bullish Scenario

Hello everyone. Did some preliminary work on BTC today. I will update with more details explaining my technical analysis.

Preliminary observation : Maintain of bullish scenario. However, original and modified schiff structures lost in 2018. Good news, current must zone to hold is upwards of 20, 30k so prices under these levels jeopardize this analysis.

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Medians pulled from more recent low. Original PF

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Modified. Many wicks, under median

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Primary weekly chart. Original pitchfork. Approaching optimal price/time. Price must react soon to maintain structure

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Modified Weekly

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Wanted to give everyone some more detail as to my current perspective.
Working off of (P2) fork, which takes precedence over (P3) fork due to it being of a higher price/time fractal, you will see that we have yet to clear the median line (which implies sell-side pressure).

Considering price/time probabilities, we still have plenty of time to clear the median line (this would be the most bullish scenario). The time allowable can extend easily into Jun 2022 without losing any important structure.

However, our second indication as to the weakness of trend is looking at (P2) with an original fork. See attached image. We are falling outside of the lower parallel so this would raise a second alarm. But it is important not to jump to conclusions until the structure is lost. Next update will be after a break of this structure or movement above the median.

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Weekly close in a few hours. Some movement today, fueled by Elon's tweet. Still within the weekly range so no reason to panic. However, weekly MACD has crossed bearishly so keep an eye on that. Monthly chart with Fibs pulled from ATH.

Trade active

Entered. Funding is still positive so could drop a bit more but good enough for me :-)
Primary chart remains valid. Will DCA my positions accordingly. Capitulation inbound.

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Median line hit. 2nd bid filled

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Still feel that the low was put in on the 19th. Another tap of median line. BTC.D had nice bounce on .786 (see post) and Alts bled out. Perhaps some sideways at the median line while Alts recover some of the lost gains

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Algo target

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Quick Daily update

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Updated Monthly

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Quick update on I why I bought this. Chart is 8 hour timeframe. Structure still looks corrective imho. 30k support has been holding, and with all the FUD coming in the markets, those can be great entries. Manage risk. I still had above my minimum r/r on this 3:1. I follow my strategy without hesitation. When there is major fear in the market and everyone is bearish, that makes me more bullish. But I would like to see us clear this channel and test those shorts at 36k.
s3.tradingview.com/snapshots/z/ZVAnvG6I.png

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Just a quick tip for anyone new to the space. Line charts can be very helpful filtering the noise.

Trade closed manually

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Just wanted to give a quick update. A lot of action today, but we are not out of the woods yet. My TA has not changed since I posted this main chart. If we are in my proposed 4th wave things are going to get very spicy and tricky. Hence, my DCA army bias. If any questions, please leave in comment section below. Thanks. And be safe.

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Quick Chart Update. 3 Day with hagopian. Looking for that 80% median, or if break of hagopian, sweep the 28, take it at 27k. Looking for dips

Trade closed: target reached

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Stacking orders all the way down to 3k

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Please refer to chart to understand my July 29th comment

Trade active

TP1 : 1 million USD

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Saving for my Research

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"With the price now back to $20,000 thanks to Musk and friends dumping mercilessly for a period of one month, The DCA army picked up an additional 800,000 BTC in weeks 19 to 22."

Trade closed manually

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Chart is Invalid. Will need to reassess with my cohorts

Trade active

After reshoring with my cohorts, Proprietary Algorithms have Confirmed.
Have a Nice Day
🙂

Trade closed manually

Trade active

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Placeholder

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😘

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Broke the 233 and ATH as expected. Bids Filled.

Trade active

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New TP1 Updated : 5 million USD

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TOTAL Update : Weekly

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Thoughts on

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No real change on my macro, 11-15k has been holding. Playing 15k bottom until proven otherwise.
Weekly charts for and

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$OTC:GBTC update. Bear invalidation level at 22.39

Monitoring closely...

Trade active

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Alternate BTC Perspective.

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Testing...

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Composite_Operator Has posted a nice theory on BTC v Gold. I have hidden some lines and other important data. However. I have retained (1) line to accommodate said theory. Noting this for future data purposes:

BTC v GOLD, 12W

RedTeamv1

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RedTeamv1