It's Time To Reassess Our Previous Bitcoin SynopsisTraders,
This recent drop in Bitcoin price has caught many traders (including myself) off-guard. Unfortunately, we cannot always get it right and when we do get it wrong, it is important that we drop any preconceived ideas we hold and honestly re-evaluate potential price action. So, that's what we are doing in today's video. We are only going to look at Bitcoin, what it's doing now, what it has to do to remain bullish, and what might happen should we remain bearish.
Bitcoin-crash
BTCUSDT: A1000x True reversal pointHello traders!
Welcome back to another episode with analyst Aadil1000x.
The market crashed hard and I already warned you about this. Traders made huge in this crash but it is not a day to be happy as many traders lost a lot. I was not in a hurry to update the chart but an update of the market was high in demand so I cracked the bottom of this dump.
BTC crashed exactly from my 21429 True Reversal point and it will stop at the 10700 true reversal point, it's nearly 34% away from 16200, and by looking at the speed of drop it might not take time to hit it. But if the market needed the strength to touch 10700 then it will find a good place to accumulate and after that BTC will give a tricky move which will end at 10700.
For those who are new here, I must tell you the true reversal point is one of a kind strategy that detects perfect reversals with pinpoint accuracy.
I must be clear to you that 10700 is not the bottom of this mega fall. It's the bottom of this dump. I also know the exact bottom of this mega fall and I will reveal it soon.
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Pain is just starting for crypto - 3k area at play?! for Pain is just starting.
The US treasury bonds are decreasing as the debt to GDP ratio is going through quantitative cumulative tightening resulting in increased pressure on subscription prices and falling demand for butter cookies and other commodities. This will only worsen as the BOJ (Bank of Japan) is issuing rate hikes at a pace of 75 bipperinos per hike, eventually leading to a bottleneck in its economical orbit. This could lead to two scenarios : recessional (unilateral) crash or hyperdeflationary catalytic sme-GMA event as seen in 1945. As of now, any long is destined to be a losing trade. The probability of a bottom across US equities is low as they're indirectly correlated to the rate of growth in Brazilian government subsidized index KRVM4GA , which has been seeing major bearish divergences as the ambassador of Peru declared Brazil to be debt-solvent, meaning that its portfolio of foreign asset is absorbing damage at unsustainable pace, with no sign of improvement until FY2036. Furthermore, FAANG companies are set to launch a global campaign in support of Ukrainians, which puts pressure on Kremlin forces currently controlling the black sea canal ; all of this could lead to a shortage in wheat and forced selling on the BVT-PLU5 index , possibly impacting the life of millions of Europeans, thus directly decreasing their income and risk appetite when it comes to volatile assets like BTC.
Overall, this puts global macro conditions in a dangerous spot as they are set to worsen by EOY, possibly reaching a doomsday-level bankrun scenario.
For those reasons, I will be looking for shorts (and shorts only) until we hit the 3k area (possibly marking the bottom for this cycle).
TOTAL2 vs BTC.D - Signs Of Potential Alt Season To Come When you compare Total Altcoin market cap (Crypto market cap excluding BTC) side by side, you can see that when BTC dominance (BTC.D) falls is usually when alt season happens. When BTC.D goes sideways, altcoins tent to do the same or even consolidate for a while, like we've seen for the last year or so.
An a chart altseasn is marked in green, consolidation/sideways movement in yellow and in blue is when crypto winter comes.
After BTC topped in Dec. 2017, BTC dominance continued to fall as BTC went into a retracement. Altcoins continued to rally into this moment. After that The whole market crashed and BTC dominance rose significant. This is a typical sign of bear market. This time is a bit different. After BTC made first ATH in 2021 and had its first major selloff, BTC dominance started to go sideways while altcoin market cap (TOTAL2) capitulated. BTC dominance than actually continued to go sideways even after whole marked crashed which does show a sign that the bull market, at least for the altcoins is not over. If it would be over, BTC dominance would have to be rising right now a lot, but it doesn't. Instead it is looking like it will continue to crash, which is a very good sign for altcoins. Remember that time is irrelevant here as no one knows for how long and when things will play out.
I am very positive that it will come while BTC will slowly be rising into a retracement.
DISCLAMER:
I am not a financial advisor so non of this should be taken as a financial advise. Be well.
Bitcoin drop the mark $20,000 USDIn the weekly timeframe, Bitcoin drop the mark of $20,000 USD, The price it's around $18,900 USD and I suppose that Bitcoin could to reach the next support to $13,896 USD in what I mark here.
Also, Bitcoin could to be in the rane of $12k and $14k of possible consolidation to watch and to look if this will be the end of the bear market.
Another possible it's that Bitcoin could to crash below of $10k. But it's so far of the reality, but my perspective it's what I think that Bitcoin could to reach $13,800 USD. approx.
BTC SUPPORT LINES AND GAME OVER RIP LINE. This chart I am showing you what I think are the support lines that must hold or down to the next is 100% guarantee. Note the 3k line IF we go down that far must hold or DEFI is dead and all coin is nothing but a memory of how the world lost money. Also know that the longer we go down and stay down, the bigger the recovery will be. This is crazy and stay clear of alts, some will die. My TOP TEN LIST, of coin I think will recover best are in no particular order are. BTC, ETH, SOL, MATIC, CRO, SHPING, DOT, AVA, ADA, UNI. No I did not list meme coins because they are manipulated by twitter critters who just smell MUSKY to me. I think 10K is going to hit and I hope hold, but no one knows anything anymore at this point, Best of luck to you all, I might place some more at 10K but I want to see 3 steps up before I go long with a real investment. It will go up, just have to wait months or years, No one knows anymore, until lending coins stop failing. But things happen in 3's and watch for big time regulations to hit hard as feds get protective due to all them crying eyes who did not believe the crash, heck, this deep down got me off guard. I thought 23K would be it. I was wrong. Be safe, Be smart, and get wealthy my friends.
No Bearish Volume WEEKLYJust to check again, after this month's CPI report, I looked at the Weekly chart & there's STILL no Bearish Volume. Whales are accumulating HODLing & REMOVING coins from exchanges. If you DCA NOW might be your chance to get your stack however you do so, whether through a shopping app, exchange or P2P. Not FA, but if you ever want a whole Bitcoin now is your chance. Should you wait for lower? Perhaps if we've blasted through 28K support below 2020 levels we may see lower. Will you DCA at 20K? 15K? Or will you flee back to the safety of dinosaur dollars?
CRYPTO CRASH!! EMOTIONAL DAMAGE BINANCE:BTCUSDT
HUGE DUMP ALERT!!
Where is the bottom?!? lets take a look at the chart
bitcoin in the recent days has cut thru all previous supports and just like when we ran straight from 20k to 30k we are dumping straight from 30k to 20k
cant say where the exact bottom is in this kind of market. everyone please be careful trying to time this market and watch who to believe out there especially in the crypto space.
just looking at the chart it certainly looks like we are coming to test 20K. will it hold?!
looking across the market it certainly looks like some of these assets have more room on the downside.
let me know what your guys thoughts are>
Bitcoin Analysis 5/12/22 Pt 3 (Two Bearish Scenarios)Bitcoin failed to stay above support on the Falling Wedge pattern on the 2 Day Chart and it appears to have already started dropping in this Head and Shoulders pattern. According to Market Symmetry, it could potentially retest it's 2020 low of $3,800 around Late November.
Bitcoin.... We Buy Fear & Sell Greed.For everybody that wishes they bought Bitcoin at $30,000 when it was a $69,000 well now is your chance to get in at a super discount! Don't be that guy or gal wishing they bought Bitcoin when it was low and didn't take action. We're very oversold on the Relative Strength Index registering at 17. Since the 2020 global shutdowns from Covid-19 the RSI has registered this low only 5 times in the past two years. This is a pristine opportunity to consider entering. Just saying..... I've personally been shopping myself these past 24 hours. Remember don't ape in and buy everything all at once! We could always go lower!
Much peace, love, health, and wealth!!!
Bitcoin overview marketDuring these days, Bitcoin made a crash during days as U.S. Federal Reserve made a hike interest rates a signal of tightening the U.S. Dollar in Forex market.
So, I was worrying in the Daily timeframe because broke down the EMA 200. And I suppose a possible bearish movement in Bitcoin price below $30,000 USD. But notice one thing that we're in the demand zone on weekly timeframe and it's important to know how the price action will make reaction in that key zone to watch out.
For example: in weekly timeframe it's look bullish, until doesn't broke down this market structure, we couldn't to confirm a change of trend. But fundamental analysis speak us that U.S. Dollar it's taking strengthening as global currency and more power
But it's important to watch out this key level of supply demand right now
I hope that this idea support you.
So, as I'm bearish in altcoins like Cardano and NEO, that expectative could to point that Bitcoin could to crash more than we expect. I have a clear mind that Bitcoin and cryptocurrencies it's in the bear market.
Bitcoin reversal. Crash likely to reach the 1.618 Fib line,After thorough analysis of a range of fractals and reversing the Fib retracement as seen on the chart, I have come to the conclusion that it is very likely that a rapid crash to the 200 day MA on the weekly timeframe is to happen. The 200 day MA on the weekly perfectly coincides with the 1.618 Fib line of the reversed retracement tool. This would make the sequence complete, ready to start the climb to a new ATH.
Bitcoin 2021 Bear MarketThe current Bitcoin sentiment is very bullish, the majority of people are expecting the new mega bull run to start now, and are laughing at the idea of prices below 6k (hell, they are laughing at the idea below 20k too).
There are 3 main features of any market peak:
Good News (PayPal and Banks started to use Crypto, institutions buying crypto, etc)
Parabolic increase in price (just look at the chart)
FOMO / People irrationally bullish (We got that too)
I am expecting the bottom to hit around the end of 2021 / early 2022 at $2,400 . If the drop takes too long to happen, BTC can make a higher low (6k-ish). Timing will be key here.
You may be thinking that 2.4k is absurd, but aside from all the Elliott Wave and Fibonacci calculations I used, let's have a look at the underlying psychological aspect.
Around late 2017, the masses were exposed to Bitcoin. This is when the major hype began. Tons of people have been opening longs during the last 3 years while Bitcoin ranged sideways with fake FOMO rallies, further accumulating the retail longs.
Now, you gotta ask yourself - if the masses are opening longs, and the price will indeed rally now, who is going to pay out their profits later?
The world just doesn't work that way, there's no free money.
Which is why, I believe that all those retail 'investors' that bought Bitcoin for the long term, and have been very patiently waiting for the bull run - are going to get liquidated once they see new lows.They will simply lose it, sell everything and proclaim Bitcoin a dead scam.
If your argument is that "institutions are buying BTC", then all I have to say on the matter is: They are most likely hedging even bigger shorts in private, leading the masses onto the slaughter to profit in billions from it. Remember, they aren't here to make you rich, they are here to make themselves rich.
Once Bitcoin gets rid of the extra baggage (those longs accumulated over 3/4 years), it will proceed with the great bull run of 2022-2024, reaching $100,000 and more.
Now, of course, they can't just crash the market without an excuse. Which is why the media will probably blame COVID-21 and/or Tether imploding.
-Hawk
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How's That Great Depression Fractal Lookin'? (Dow Jones)It's looking pretty good. Although I was thinking markets could see one final blow-off top, this is looking like less of a possibility at the moment. The bearish narrative has pretty much set in. Although shorts can be squeezed, I think it's likely the market will fail to find buyers at higher prices and get heavily rejected.
Will it play out exactly like this? Most likely not, but the similarity in structure is striking. We also have some similarities in global issues - pandemic, inflation, war....it just continues, only about a century later. This makes sense, because 90-100 years is enough time for many to accumulate generational wealth, and for massive inequalities and inequities to increase due to runaway capitalism. The Dow Jones seems to be confirming a longer term top - the monthly MACD was completely overextended and has just flipped read. Stoch is at bottom and the Ultimate Oscillator keeps printing bearish divergences month after month.
What would happen to crypto if stock indexes declined by a magnitude similar to the Great Depression? I think Bitcoin would probably test levels not seen in years, and perhaps it would bounce more quickly than the rest of the market once the bottom is reached. Things would be insanely volatile. Something like this:
Seems unlikely, and it probably is. But this is all meant as speculation. Let's see what the future brings! There could be some seriously amazing opportunities out there during this turbulent time.
-Victor Cobra