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bitcorn 😎good evening, looks like the attempt at the short squeeze has failed, and it was almost expected. --- >btc broke down below a key algorithmic weekly channel. >playing out a sequence of bearish impulses to the downside. few key levels to keep an eye on: 24~25k (monthly 55ema) 24k = -0.236 of wave 5 of the impulse going down. 23k = 100% extension of the larger move down from 68k 21k = michael saylor gets a margin call 19k = 123.60% extension of the larger move 14.6k = 1.618% extension, aka expansion target. where it stops is beyond me, but i can theorize \ try at ever level with a very tight stop. ps. there is a full moon on 5\15, a historical indication of a local bottom \ bullish reversal. ps.2. despite the 60% decline since november, people still seem to be bullish (myself included lol), which makes me think there's more pain to come. when despair sets in, the bottom will be near. ✌
by notoriousbids
5
Bitcoin (Macro) Elliott Wave Theory Analysis.Good afternoon peoples; Thought I'd share my macro outlook on Bitcoin with you all. This particular count has been one of the biggest challenges I've ever faced in these markets, but after a few years of experience - I feel I've finally tackled it. ----- To keep things real simple, the chart says it all. I think we're going to see 22k by around July, after which btc will run to 126k. 126k will mark a significant cycle top, and a very large correction will take place after (which could last a few years). I'm not going to talk too much about that right now since that's way in the future, but I will absolutely bring it up when the time comes. ----- The market is by no means linear, so my view is subject to change as more data presents itself in the months ahead. If any significant changes take place, you know I'll be the first to give you an update about it. I've no bias in this market, I don't read\watch the news; all of my projections are strictly based on the methods that were taught to me by a very talented technical trader. I have no idea what will cause these large moves either, nor does it matter to me right now. The chart paints a very beautiful picture, and it is based off this picture which I base all of my trades on, nothing else. ----- Grand Cycle Wave 3 = $126k Grand Cycle Wave 4 = $10k Grand Cycle Wave 5 = $1.6M 💰
INDEX:BTCUSD
by notoriousbids
7
btc 5-10 update ~good morning o/ nice little relief rally for da bulls but i'm afraid that's all this really is, a wave 4 bounce. could go as high as 34k before seeing another leg down to around 27.2k (where i will become a buyer). ---- what i have projected on my chart, is the highest probability path i could see for bitcoin from here, to complete the larger corrective phase. PS. if it could push above 34k, then there could potentially be something else going on (view my post from yesterday for more context)
by notoriousbids
2
Bitcoin / Gold (BLX/XAU) Chart - 50/200 MA Death Cross nearingOn the Bitcoin / Gold chart a warning signal flashed on April 16th! We are nearing a 50/200 MA DEATH CROSS which will occur on May 4th on the 3-day chart! 50/200 MA death cross are quite rare, especially on the 3-day chart. The Bitcoin price drops on average approximately 50% (measured from the day the warning signal of the death cross indicator flashes - to the bottom)! Disclaimer! We (Asset-Ethology) are not a financial adviser. For educational purpose only! You can use the information from the post to make your own trading decisions. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
BNC:BLXShort
by Asset-Ethology
Bitcoin BTC/USD BLX Short-Term AnalysisShort-term analysis of #Bitcoin on the H6 timeframe: For several months #BTC was trading inside a bear flag which has finally broken to the downside. However, Bitcoin remains strong and the bearish breakout was not as harsh as expected. BTC is currently trading inside a bullish wedge which has in general a probability for a breakout to the upside of approximately 67%. There are several reason why I think that in this case the probability for a bullish outbreak is high in this case: - Stochastic RSI is turning bullish and is moving above the 20 level (note: the StochRSI also looks quite bullish on the 2D TF!) - Bullish crossover on the Wave Trend oscillator - on the H4/H6 timeframes we can see a strong bullish divergence on the MACD - the #Crypto Fear & Greed index is at very low levels and holds its support 20 In addition to this we can see that the bullish momentum on the DXY seems to be exhausted on the H6 timeframe which means that there will be a short-term correction in the DXY. A correction of the DXY is a further bullish signal for crypto as well as for stock markets. Take profit targets: TP1@ $40600 TP2@ $42690 (note: strong resistance between $43k - $45k) Disclaimer! We (Asset-Ethology) are not a financial adviser. For educational purpose only! You can use the information from the post to make your own trading decisions. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
INDEX:BTCUSDLong
by Asset-Ethology
btc 5-8 update~good evening folks, btc seems to be taking the chill route. this route pushes down to 22k over the next few months. ----- >watch for a few raids in the days ahead, >followed by a little short squeeze once enough liquidity has been captured. cash is king during these times. all of the moves up will be sold into (most likely). scalps are the way for the time being. ps. the (triangle) case still remains in tact but is very improbable as of today. once the low of 32.9k is breached, the triangle becomes nothing more than history.
by notoriousbids
1
btc 5-6 update greetings, what i have portrayed here is a potential path btc could take to get to the 22k algo target. (not saying this is what's going to happen; this is just an idea). ----- it's not going to be straight down like some people are expecting; we'll see a short squeeze somewhere along the way to push the bears out of the market before the final leg down comes. ----- as mentioned a few days back, i still remain to be in cash. there's no real sign of life for now, thus - no reason for me to be a buyer yet. if a sign of life appears, i'll let you know. have a nice weekend peoples 🥂
by notoriousbids
6
few more scenariosgreetings o/ as btc approaches my buy zone ($33,250), things are starting to get heated in the market. --- let's entertain the idea where btc invalidates the triangle idea; because let's be honest - it's very likely that it will. there's plenty weakness in the market, and if it was to drop below the low from jan 24th (32918.7) i could see two potential paths which it could take. #1 - the green path (my worst nightmare lol) green projects what we call an expanded flat in elliott wave theory - where the low is breached in a 3 wave move - all the long stops are raided, but a big player buys right into it causing a squeeze to the upside (most likely to that 50k zone). #2 - the red path (the chill scenario) btc would basically just continue playing out the impulse to the downside + bounce once more time along the way to form a simple zig-zag. that zig-zag would complete the larger wxy which had begun back in november. downside target on both of these sits at 22.8k (the larger wave 4 algo target). --- while i do prefer the triangle, i can't be attached to it. so if it was to get invalidated, i would be ready for whatever shenanigans this market was to throw my way. stop losses are your friend, cash is king; stay safe my peoples. ✌
by notoriousbids
2
bitcorn (primary case)good evening o/ firstly, i'd like to just say; i've shared all the bear cases i could think of, and while they might look appealing to some - they don't look that appealing to me. i share tons of scenarios, even the ones i am not that big a fan of. why? because the market isn't linear, and i like to be prepared for every possible outcome. most people just buy and hold things< <i'm in cash 95% of the time. all of my trades are short term scalps (in either direction). ask any single person how much they made since btc topped out back in november; then ask me 🥂. ---- i saw this correction coming before it even topped out. people called me absolutely ridiculous for even considering the idea of btc dropping back down to 30k, but i stuck to it, and we've come a really long way. no hard feelings to all the bag holders, but i'm not about that kind of lifestyle. ---- ---- ---- last night i shared a chart on the dxy, check it out if you haven't yet: that dxy chart is the reason why i believe that a bottom could be looming right around the corner, (in the next 1-2 weeks in the overall markets). it rhymes beautifully with the spx500 as well: add the current level of fear into this equation, and we got a perfect storm for a massive bull run on the horizon. ---- the majority of the market is absolutely bearish right now. the majority of the market is also wrong 95% of the time. people get emotionally attached to ideas, which in turn makes them lose moneys. i have 0 attachment in this market, 0 bias. all my trades are based off the chart patterns that are presented to me on a daily. i might not be right every single time, but it's not about being right - it's about risk management. ---- ---- ---- if my theory for the dxy holds true, there's a good chance bitcoin runs to $100k+ in the year ahead, there's also a really good chance the spx500 runs to $5750 during the same time. ---- the trade here is simple; if btc manages to stay above $32918.7 (stop loss below) the triangle idea will become a reality, and all the brave souls buying into this fear, will be rewarded big time. 🥂 ps. i always go with the unpopular opinion. ps2. it's fine if btc goes below the bottom trendline(don't panic), so long as it stays above 32.9k, we are good 💰.
Long
by notoriousbids
11
btc 5-5 update pt.2greeting humans 👋 as we approach the level i've been discussing in my last few posts, things are looking great. 34.9k is the 🔑 in the local zone. a break + back-test of that level will result in a deeper drop, but i'd still be a buyer down there with a stop at 32899 (if stopped on the initial setup) ---- a conservative target from 35k would be roughly 40.1k ~ 43k. ---- stop loss is your friend don't blindly buy in based off my charts; do your own research. none of this is financial advice, just my opinion. 🛸
by notoriousbids
5
btc 5-4 update ~good afternoon ladies, gentlemen, moonbois and girls. bringing to you some secret sauce for brunch today. --- i'm watching for something along these lines to play out; it might not happen exactly as portrayed, but this is the sort of vibe this market is giving me today. a deep push up to back-test that 40k range, followed by a strong impulsive move to down to 34.9k where a significant bottom will be created (in the mid-term). i'm not bullish nor bearish at this time, just swinging both sides as the opportunities present themselves. ✌
by notoriousbids
11
btc 5-2 update ~good evening peoples, been a very fun last couple of days scalping the wedge, but i think we're going to see a break-out tonight. got a feeling it breaks up (temporarily). little phase of accumulation has come to an end, and mark up phase is about to begin. there's 3 potential targets it could stop at: 41129, 42,064 43,624 whenever it begins to impulse, the wave structure will give us a hint as to where it can potentially top. stick around for an update in the days ahead. best of luck 💰 ps. the final fifth wave should find a bottom by may 15th.
Long
by notoriousbids
5
wombo combo a wombo combo involves teammates using a sequence of powerful attacks to burst down the enemy team before they have a chance to react, a maneuver. it's we the people vs. the algos. what's their next plan? if i had to make an educated guess, i'd have to say we see a "breakdown" below the trendline that 99% of the market is eyeing. when everyone and their uncle sees something, it almost always becomes meaningless. remember these words; the majority of the market is always wrong. --- that being said, i think we see a bit more downside in the days ahead. (maybe the current bounce goes a tad bit higher, but overall, i bet it comes down one last time to about 34.9k)
by notoriousbids
12