BITCOIN, Is It NOW - Or BULL TRAP? (SECRET CENSORED)
Updated
There was upon a time when D4rkEnergY was Top Trader. He was number 1 every where - on THE DAILY, WEEKLY and MONTHLY list - he stole MagicPoopCannon's first place after only making public charts for 2 months! Was it a surprise? Of course not - D4rkEnergY is the stuff in the Universe that makes space expand and even accelerate - The dark unknown force is unstoppable...
But then something happened...
VIOLATING RULES :) Not allowed to mention why I have been away.... LOL
Please give this one a LIKE again please, since TradingView chose to remove my other post!
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Let's now take a look at the 4h BTC/USD chart! It has been a while - First of all let's take notice of how we have been ranging between 7,000 USD and 5,800 USD for more than a month. It's pretty safe to say, that the market has been horrible since we slammed our head into 10k USD back in April.
The Global Crypto Market Cap is still under 300 Bln USD, and we have BTC -0.44% Dominance at 42,6 %. Looking at the last 24 hours BTC -0.44% has gained almost 5 %, BUT we are not seeing that altcoins are making those huge jumps anymore. The simple reason is, that people don't have faith in the market at the moment - we need to see Bitcoin -0.44% move above 6,800 USD.
First of all we have a not so pretty, but still very valid, inverse head and shoulder formation, which is a bullish sign. Right shoulder is pretty big, which makes it less bullish though. Also take a look at our Class B Hidden Bearish Divergences, which normally predicts, that we will continue our downtrend. I choose not to put too much weight on this though.
Here are the 2 most likely short term scenarios, which both are bullish:
1. Looking at the RSI it's pretty clear, that Bitcoin -0.44% on the 4h chart is overbought. So what we might see is some consolidation (maybe a bit to the downside), and when people less expect it, we will witness a Jack in the Box-pump. We can hereafter expect to go to around 7,100 USD due to clearance - look at the Volume profile - before we will meet new resistance.
2. We might get that needed retracement, which will make us go down to the EMA200 at 6,5xx before we again will go up and complete the inverse head and shoulder pattern.
That was all for now, my friends!
D4 Loves You <3
PS. Please do me a favor and give a BIG LIKE, and I will keep you updated. Thanks in advance! :)
But then something happened...
VIOLATING RULES :) Not allowed to mention why I have been away.... LOL
Please give this one a LIKE again please, since TradingView chose to remove my other post!
------------------------------------------------------------------------------------------
Let's now take a look at the 4h BTC/USD chart! It has been a while - First of all let's take notice of how we have been ranging between 7,000 USD and 5,800 USD for more than a month. It's pretty safe to say, that the market has been horrible since we slammed our head into 10k USD back in April.
The Global Crypto Market Cap is still under 300 Bln USD, and we have BTC -0.44% Dominance at 42,6 %. Looking at the last 24 hours BTC -0.44% has gained almost 5 %, BUT we are not seeing that altcoins are making those huge jumps anymore. The simple reason is, that people don't have faith in the market at the moment - we need to see Bitcoin -0.44% move above 6,800 USD.
First of all we have a not so pretty, but still very valid, inverse head and shoulder formation, which is a bullish sign. Right shoulder is pretty big, which makes it less bullish though. Also take a look at our Class B Hidden Bearish Divergences, which normally predicts, that we will continue our downtrend. I choose not to put too much weight on this though.
Here are the 2 most likely short term scenarios, which both are bullish:
1. Looking at the RSI it's pretty clear, that Bitcoin -0.44% on the 4h chart is overbought. So what we might see is some consolidation (maybe a bit to the downside), and when people less expect it, we will witness a Jack in the Box-pump. We can hereafter expect to go to around 7,100 USD due to clearance - look at the Volume profile - before we will meet new resistance.
2. We might get that needed retracement, which will make us go down to the EMA200 at 6,5xx before we again will go up and complete the inverse head and shoulder pattern.
That was all for now, my friends!
D4 Loves You <3
PS. Please do me a favor and give a BIG LIKE, and I will keep you updated. Thanks in advance! :)
Note
Here is a closer look - The bulls are really trying to get through this point, but we have super strong resistance. As I said earlier if we get through now we have clearance and would easily go to around 7,100 USD, unless we will be caught in a bull trap.So both of our scenarios are still in play as you can see. I will follow up on this later!
Thanks for listening, my friends - and please remember to leave a LIKE :)
Note
And the greedy bulls are desperately trying to get through via the inverse head and shoulder pattern, but as you can see they got rejected just before 6,800 USD. We need to go through here before have the before mentioned clearance, which allows to go above 7,000 USD.Our 2 most likely scenarios are still in play, my ladies and gentleman!
D4 <3
And tank you for following me - Really appreciate it!
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Boooom!! Jack, where are you??? Penetration-alert.....6,900 at this moment - it's going fast now. I will update you shortly!
D4 is back!
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Almost 7,000 USD!!
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Jack in the Box-pump alive - even though we had the RSI in overbought zone on the 4h all the time and hidden bearish divergence... LOL.. But D4 saw it coming! Will follow up....
PEACE!
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Almost 7,400 USD now - RSI above 90! Insanity. I have drawn the next resistance levels for you guys!Note
Nothing much has happened since my last update - as you can see, we are starting to consolidate - We are around 7,400 USD now. The bulls has definitely gained some trust - that was exactly what we needed.We can also see, how the altcoins are doing good again. They are not all following Bitcoin, but that is as expected when we see a 10 % sudden increase in price.
Please leave a like, my friends - and I make a new chart for you soon :)
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