$BTC comparisons, expectation, & pattern forming
To the untrained eye, CRYPTOCAP:BTC does look like a double top, but in reality it would be closer to a Triple Top, if anything.
Peaks are higher & we're trading ABOVE resistance levels.
IMO there is NO #BTC double top!
Yesterday #Bitcoin formed an OUTSIDE DAY (this is a so so pattern)
$ Flow is not great but the RSI is still HEALTHY!
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Futures #BTC look a little better than Spot, shorts covered already!
Strength here is better than last peak by far!
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Inverse Head & Shoulder patterns are BULLISH but best at bottoms.
Spot CRYPTOCAP:BTC is forming one at the moment.
Drew the "expected" lines on the last chart.
#Bitcoin is trading very different and this has been true for some time now.
Many are making calls but are getting it wrong because of this, IMO 80-100k this year.
IBIT
$BTC Futures showing different data vs SpotINTERESTING divergence happening at the moment with $BTC.
#BTC Spot has RSI falling & sells beginning to pour in.
#Bitcoin Futures has a strong RSI & some, light, selling.
Wont comment on $ Flow today but will say that both paint slightly different pictures there as well.
Weekly shows WHY this area will be tough. This area will not break easy.
HOWEVER, IMO, what have we said? The more something hits the weaker that resistance gets. It'll likely break through. But when?
Comparing previous $BTC tops & current state of BitcoinCurrent charts (not shown here, this is a weekly chart, se profile for more info)
CRYPTOCAP:BTC $ Flow is better captured on spot price.
#BTC RSI is better captured on futures price.
Weekly is interesting indeed!
Both show:
Cratering of $ flow as it goes higher, negative divergence.
RSI is still OKAY.
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Let's compare the other 2 #Bitcoin tops:
1st top shows CRYPTOCAP:BTC RSI cratering.
$ Flow took longer for futures to show a top but it was obvious on spot price.
2nd #BTC RSI is flat on both, it is healthy on its own accord, BUT is significantly lower than the previous top put in.
$ Flow is seen lessening on both futures and spot action.
Sell volume obvious on futures, no sign at all on spot.
Continuation....... (current chart shown)
#Bitcoin buy volume is exhausting.
CRYPTOCAP:BTC $ Flow is weakening. This is way more obvious on the Spot chart. However, it did is reach normal peak highs.
#BTC RSI is currently trading like the 2nd top, but it is stronger, reaching higher RSI number.
Futures are identical to 1st top, but Spot is a little bit lower in comparison to 1st top.
RSI is okay on both , healthy even.
Shorts have been wiped out and it stands at a low amount at the moment.
Warning signs but should retest highs at he least.
Bitcoin approaching $60,000. Getting closer to All-Time High!Bitcoin (BTC) Is getting closer to $60,000 and may eventually break the All-time High. There are a few ways to capitalize on BTC moves.
1. Direct purchase of crypto from crypto exchange like Coinbase
2. Invest in stocks associated with BTC. Examples include NASDAQ:MARA , AMEX:GBTC , NASDAQ:COIN , NASDAQ:RIOT , NASDAQ:MSTR
3. Invest in LEAPS options on the same stocks (powerful strategy)
4. Invest in ETFs associated with BTC. Examples include $ARKN, NASDAQ:IBIT , AMEX:HODL , AMEX:FBTC , AMEX:BITB
5. Invest in Bitcoin futures
Expect all of these to move up as BTC approaches $60,000
Trading setup at IBIT gaps on US market opening👀🚨❓The BitcoinETF IBIT will open the US market with a pre-market gap up today dear Crypto Nation👀🚨
Why can this be important❓
In 6 out of 6 times when that happened we saw BTC go up at least 1,000 USD before getting down 500 USD🚀
No financial advice to open a trade at US market opening with RR 2,0... but keep an eye on the behavior today - might be an interesting trading setup in general👀
Comments💭, Likes♥️ & Follow🔗appreciated🤗
Disclaimer:
Not financial advice
Do your own research before investing
The content shared is for educational purposes only and is my personal opinion
$BTC extreme bullish sentiment & most orderly movementAs stated before, there's extreme bullishness on $BTC.
Every influencer's excited & media is plastering a bull take.
They can be right but more often than not they are wrong and can be used as a contrarian indicator.
Things to notice:
#BTC shorts are @ their LOWEST in a year!
Money Flow is lessening.
Decent sell volume at the moment.
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Let's look at weekly data, chart shown.
Weekly CRYPTOCAP:BTC shows that indicators are weakening.
(Indicators aren't primary means of trading but are used for HELP)
Let's compare #BTC to other time periods, shall we?
Are we more like early or late 21?
This is most orderly run since the introduction of derivatives.
Looks almost like an Index, interesting, sarcasm.
#Bitcoin #bitcoinhalving #ETF
$BTC trying to find footingCRYPTOCAP:BTC will likely see 1 more dip before it resumes it's uptrend, WHY?
There is still a decent amount of bullishness out there.
HOWEVER, if #Bitcoin can do the following:
RSI hold above halfway point
$ Flow gets better, which coincides with...
Buy volume increasing
Then the drop will likely not be harsh & we could have seen the bottom,
IBIT VS GBTC - The Market Has Spoken. IBIT Raging
I did not personally expect this much Spot BTC being converted from GBTC to IBIT but the numbers are right there.
IBIT's low fee's and Blackrock's brand name have just drained the GBTC supply.
As of today
IBIT's holdings is $1,060,712,715.95
GBTC holdings is $23,707,965,989.80
This will become a close battle within months and the low fee battle will always exist.
ISHARES BITCOIN TRUSTHello traders!
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Please also click “Boost”.
Have a good day.
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(IBIT chart)
Trading will begin with the approval of BTC ETF (ISHARES BITCOIN TRUST).
As you can see, the current trend is a downward trend.
In order to turn this downward trend into an upward trend, the price must rise above 23.60 to maintain the price.
However, since the volume profile section is currently formed in the 24.84-25.15 section, it is expected that the upward trend will continue only if it rises above this section.
The HA-Low indicator on the 1D chart is formed at the 24.40 point, so if it shows support in the 23.60-25.15 range, it is time to buy.
If you buy at the current price range, the 23.60-25.15 area is expected to be the first resistance area.
With the approval of the BTC ETF, I believe that the coin market has been officially recognized as an investment market.
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The biggest issue this year is the BTC halving.
Therefore, it is expected that we will prepare to continue the upward trend in the future.
Have a good time.
thank you
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- The big picture
The full-fledged upward trend is expected to begin when the price rises above 29K.
This is the section expected to be touched in the next bull market, 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 13401.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
These are points that are likely to encounter resistance in the future.
We need to see if we can break through these points upward.
Since it is thought that a new trend can be created in the overshooting area, you should check the movement when this area is touched.
If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern.
1st: 43833.05
2nd: 32992.55
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** All explanations are for reference only and do not guarantee profit or loss in investment.
** Trading volume is displayed as a candle body based on 10EMA.
How to display (in order from darkest to darkest)
More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA
** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own.
** This chart was created using my know-how.
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