Bitcoin weakening still, short term pause?CRYPTOCAP:BTC looks okay technically but the RSI is losing steam, gradually.
This has been mentioned before, a few times actually.
#BTC 4hr shows the weakness in the RSI a lil better.
CMF = $ flow still looks okay though.
However, #bitcoin on 1 hr shows the $ flow reducing a bit.
#crypto
BTCUSDM2025 trade ideas
BTC1! on 12hr Potential Triple TopBTC1! on 12hr Potential Triple Top rejection
Hey everyone,
I am anticipating a bounce for BTC1! for 11/22.
The market can always change but this is what i see atm.
The Double top was rejected on 12hr.
Potential triple top after bounce to the upside of 38k and a pullback thereafter for a triple top formation.
"A triple top is a technical chart pattern that signals an asset is no longer rallying, and that lower prices are on the way."
What is BTC doing??Very predictable price action from BTC as usual.
If you missed the opportunity to load up more longs over the past 12ish hours, then pay attention to the NWOG. Watch for respect of the gap or immediate rebalance.
Target is the buyside above the old second stage redistribution.
Note the IFVG directly below that price will likely refer back to over the coming months.
Our algorithms entered long in crypto at breakoutThe blockchain total market capitalization is at the beginning of a new momentum trend of what it seems the most likely scenario would be a stage 2 trend (uptrend).
Most of our momentum trading bots that trade blockchain assets as underlying's have entered long with stop trailing orders.
The RSI in the weekly chart is of +70.11 for Bitcoin CME Futures and of 68.07 for the total blockchain market capitalization. A very strong trend.
A short-term trend pullback so that afterwards it continues the uptrend is the most likely scenario , but, even if in the end the trend loses strength and it goes to a stage 4 one (bearish), our bots will short-sell the market anyways.
Entering long in equity indices and blockchain assets with algorithmic momentum is the weekly main update from our side.
Head and Shoulder NecklineThe head and shoulders is still valid carrying on from Jan 2021. We bounced off the neckline from currently traded prices. We can still bounce off the neckline for several days or weeks. However, if not broken through we will ultimately see a downtrend possibly until Nov 2024 being a 1W chart.
Target price for a head and shoulders pattern is:
Price difference from height of head to neckline x 2 = Target price
Remember always set a SL
Love Spoofy
Could a Strong US Dollar Curb Rise of Bitcoin, Nasdaq?The value of the US dollar has returned to prominence this year, reaching near new annual highs.
Since July, the value of the dollar against a basket of foreign currencies (as measured by the US Dollar Index) has increased from 99 to 105.
This means that the greenback is regaining strength after a period of weakness.
The dollar's rise was surprising, considering that many experts had predicted a decline in 2023.
With the U.S. economy uncertain and estimates of possible recessions, the Fed was sure to cut rates in the following year.
However, the currency's rally proved otherwise.
Despite ups and downs, the dollar continues to maintain an upward trend ahead of the December 13 Fed meeting.
Although no further interest rate increase is expected at this meeting, an aggressive approach by Powell is expected in light of the latest statements.
It is expected that the Fed will keep options open for further tightening if necessary and may delay possible interest rate cuts until late 2024.
However, even if rate cuts are made, they are not likely to be significant because of inflation below the 2 percent target.
To understand the recent increases in the dollar and the reasons behind them, it is necessary to look at global economic dynamics.
The global economic situation is currently deeply divided.
PIL Chart PIL Chart
As the United States continues to defy pessimistic forecasts and growth in China and Europe falters, the dollar has regained strength, rising sharply against major currencies in the past two months.
In late 2022, most economists predicted that the Federal Reserve would act to prevent a possible recession by reducing interest rates.
However, at the present time there appears to be no threat of recession to the economy.
The latest estimate of U.S. GDP shows that the economy is in excellent condition.
The U.S. economy revitalized in the third quarter of 2023, registering an annual growth rate of 4.9 percent.
This represents the highest growth rate since the fourth quarter of 2021 and exceeds market forecasts that were on 4.3 percent.
A strong dollar is not good news for the United States, as an increase in its valuation could reduce profits earned abroad.
EUR/USD-Daily ChartEUR/USD-Daily Chart
Companies such as Apple (NASDAQ:AAPL) and Walt Disney (NYSE:DIS) Co. have already been affected by this trend in Europe and Asia, with theme park visitors from abroad expected to decline.
Many estimates indicate that even an 8-10 percent increase in the dollar can cause an average 1 percent decline in U.S. companies' profits.
Finally, I anticipate a strong dollar for this quarter and the first quarter of 2024, which is affecting my portfolio choices.
Given my market analysis, I have chosen to avoid U.S. indices such as the Nasdaq and instead focus on Japan's Nikkei index.
Japan's weak currency makes it favorable for my forecast.
The Euro/dollar exchange rate could also be at risk of a retest of the 1.00 level.
In my portfolio, I still have investments in Bitcoin and Bitcoin mining stocks, but I anticipate possible short-term weakness with the negative seasonality for this cryptocurrency.
However, news about an ETF that would allow investors to participate in the Bitcoin market without owning it directly could temporarily support prices.
btcusd bicoin in bear or bull rally decision till EOYNext weeks will show do cryptomarket goes nuts like in 2020 or nukes like not seen before.
All indicators show similarity to breakthrogh like in 2020, but as it is usual in cryptomarket when everything is bullish it could crushs
If price will go above Bollinger Band most possible there will be rully to 90 000
Bitcoin last hoorahBitcoin last hoorah moment. Everyone is back to the hype and i view it as a time to be very cautious. My view: bitcoin is done. Its not hedge against inflation and it will not work with interest rates skyrocketing. Bitcoin is fiat derivative and many will get trapped. Unpopular view.
BTC1!That CME gang cray
Ran up to take intraday (but not intramonth) highs before close
Now filled previous day 330 close gap at Thursday open
Also happens to be same approximate area as that 35925 gap (filled last week) that I've been talking about
If bullish they'll likely hold this level for continuation
Has 39900 gap above as incentive for higher
Last move closed the GAP from May 9, 2022This unclosed GAP on CME Futures waited there for more than a year and half and now it is closed.
What doest it means about the future price moves? First of all, the traders that were trapped on that levels can now close the positions break-even, but should they do that after waiting so long? I think that most of them will, because of psychologic bias. But, there are people that are always buying and adding more BTC to their portfolio even in current levels, because the Bitcoin ETF proposals of BalckRock and several other funds are still on a table of SEC and can be approved any day.
Microstrategy, for example, increased they BTC holdings in last year and their average buy price is $29,744.
5 Step Trading Plan Template"Playing Catch Up" - A clear, easy to follow 5 Step Trading Plan Template for Breakout Trading.
Step 1. Recognize the change in trend. Whether you use ranges, patterns, or stage analysis, all essentially help to confirm that the trend has changed from down or sideways to up (or vice versa, but just make sure its in the same direction you plan on trading!). In this case, we have a "U" shaped recovery which is comprised of an island-type reversal with a very clear sell off which was sharply supported on a high interest price level ($20,000) while then breaking out of the larger U reversal neckline at $25,000. Trend has changed from down/sideways to up (or Weinstein's Stage 2).
Step 2. Identify the breakout. This trendline confirmed itself twice as support in 2021 and was broken in 2022. It then acted as resistance twice in 2023 before breaking last week.*
Step 3. Establish a price target. Here we have targeted the previous local high before the breakdown of the trendline. Price was unable to advance past this level last time, so its likely become a resistance level and an area of supply in the market.
Step 4. Ask yourself: what if I'm wrong? It's the question to always be asking yourself, but not too often where it keeps you from taking appropriate amounts of risk. It's important to be prepared for all scenarios, even the ones you believe to be least likely. We place the stop just below the trendline breakout in case price breaks down. Even if its just chop, we can reestablish a new position under new circumstances. We will not be left holding in case price goes to 0.
Step 5. Confirm risk management. In this case, this trade happens to coincide with a 4:1 reward to risk ratio, which means if I am trading with the same amount of capital for every trade, I can lose 4 times and win 1 time to breakeven, or as I have written on the chart, I can lose 3 times and win 1 time to be profitable. As a trader I recognize I will not win every single trade, so to remain solvent I must account for this. You need to know your win/loss rate in order to have a clear idea of what R/R ratio is appropriate for you!
*Note: Assuming we hadn't gotten long earlier, the breakout at Step 2 is the ideal price to go long. This can be difficult if you aren't on your computer/phone all day. This tutorial is how to play catch up with a simple risk management plan. There are also ways to decrease risk even more, by layering buys from this entry down to the trendline breakout, increasing the size of purchases as price gets closer to the breakout price (this is still done in conjunction with our risk size of "1"). This lowers our average purchase price, and with it our risk, because our stop-loss price does not change.
I hope this helps, let me know in the comments section what you think.
Thanks for reading.
-harambepay
Bitcoin Futures : Gap filledCME Bitcoin Futures : Gap filled
......................................................................................................................
We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature.
and are therefore are unqualified to give investment recommendations.
Always do your own research and consult with a licensed investment professional before investing.
This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
Bitcoin Vs. Gold Part 1COMEX:GC1! Vs CME:BTC1!
--
That's the problem with teaching about stocks.
The problem is popularity doesn't last.
Even if you are good at trading.
The main thing you need to remember is you need
to understand your technical experience.
Right now Bitcoin is in a buying position.
And so we have this Bitcoin vs. Gold situation.
The Fed interest rate decision is on the 1st Of Nov. 2023
Watch this video to learn more.
Disclaimer:Do not buy or sell anything I recommend.
Do your own research before you trade.
Rocket boost this content for more information
🅱️ Bitcoin CME Futures Premium Confirms Bullish ContinuationBitcoin's CME Futures currently trades 500USD or 1.27% higher vs Bitcoin Spot (BTCUSD). This premium clearly reveals a bullish bias for Bitcoin.
When Bitcoin starts a new trend or, is set to move higher and does move higher or, simply becomes bullish, futures prices always trade at a premium vs spot. This is the situation we are in now.
This bullish bias is supported by a strong reading coming from the oscillators as well as a bulls dominated volume profile.
Only in early November 2022 is bear volume really high, the rest of this chart clearly shows bull volume being predominant during each major move.
Bitcoin is set to move higher, this is based on many signals coming from this and other charts.
Namaste.