BTC trade ideas
BTC Bitcoin BullishLooks like we are about to gain another $200billion in BTC marketcap. Currently sitting at !.022T
Also BTC dominance is falling, means the alt-season is around the corner.
I hope you packed well and HODLING your alts. My opinion BTC soon will start moving sideways or even do some correction giving steam to alt coins, and then we fly altogether.
~ GETTEX:54K BTC should liquidate Billions worth of shorts.
BTC/ALT POTENTIAL FURTHER DOWNSIDE Will we see further retracements in BTC (blue) and the ALTs (yellow line shows alt market cap minus BTC and ETH) before or around the halving? The green line allows us to look back 4 years to the previous bull cycle and pinpoint price action/market structure changes. Of course, looking at previous price action and market structure doesn't always have a high degree of predictive power, but it can act as a guide to temper your emotions and prepare for outcomes that may go against the current sentiment. And patterns do repeat. Again and again... ad infinitum....
Following this technical analysis (which of course may not materialise) on the logarithmic scale, we would see a drop, in market cap, of 30%, in BTC to the trend line...and circa 50% in the ALTS (not including ETH) to its respective trendline. If ETH is included (not shown) with the ALTs, then ALTs would see a 20% drop to the respective trendline. If this does materialise, then this would likely form the foundational strength for the next bull run through 2024/2025.
BTC/USM2 Monthly SuperTrend IndicatorBTC/USM2 money supply chart is typically more accurate to identify key price action than BTC/USD - 1st monthly candle to flip Supertrend line green on Monthly timeframe. Also punching through Ichimoku cloud…will history repeat and Bitcoin goes sideways for the next year ? Or will ETF continue price action straight up? Maybe 2024 will gift us a black swan to scoop up more cheap sats in a flash…
BTC Analysis and sample tradeBTC is at currently at the top of a bear channel which formed after a high displacement move to the downside. It is also at a bearish Order block. Sample trade I took with a high R:R. I take trades the second they conform with my idea and do not wait for any confirmation because I would rather take a small risk and high reward trade then wait for confirmation and take a low R:R trade. It is a game of probability after all.
Last BTC IdeaIt's been a pleasure exploring such a unique financial asset class. Nevertheless, we are moving into a political & economic direction in which crypto cannot coexist with the financial system and have any value in the long term.
There are many reasons for this outlook. Join my channel for more:
Telegram: @DeltaS7
[UPDATE BTC] BItcoin/M1 vs GOLD. Do you see it?M1 has caused problems for us BROTHERS. The current market divided by M1 resembles the gold market during a bear market, but it is happening three times faster due to the digital age. Based on this model, BTC may reach 35,000$ in 2023, undergo consolidation until the halving, and then drop to 8,000$ before beginning a new macrocycle.
It is important to note that this is only one of my models and should not be taken as definitive.