The idea is simple. Bitcoin is still an asset that moves in regular 4-year cycles from bottom to the top. Has anything changed in 2023? Well, we'll soon find out! Cheers to a glorious 2024 :)
The idea behind this chart is simple. Every cycle, BTC tends to have a blow-off top where profits are distributed from early to late buyers. Every top, thus marks a level, upon the definitive breakdown of which, a so-called capitulation even occurs. That is the event where every "last one" from the participants tend to sell thinking its over. That is the...
Retest the green box and start climbing higher. weekly breakout is significant enough for LTC to start attacking 200$ before 2024 when we'll get to buy it around 50-80$ again.
I want to ask what is your best guess, where does EOS go next ?
I have been advising to accumulate under 30c Algo for the last 2 months. Now it seems it has broken out so will be interesting if we get the chance to buy a dip around 30c once more.
Zec just took out last year's low and quickly reclaimed range lows. - Seems to have broken the short-term bearish structure as well and the volume is picking up. - If we can make a higher low around the daily block, I'll take a long and look to take it till mid-range as per the setup in the chart. Context matters so I will keep a close eye on how this one...
I like how this double bottom is playing out so far. Looking for what the price will do on the grey area to decide whether a long is plausible as per setup or not. My red box is where I believe the price base is being formed. So, we could have another test of the low end of the box before all this idea comes into fruition. Let's see, could be a great trade...
Looking for it to pull back and test the broken diagonal. Longs can be taken upon confirmation of support holding.
I am not saying that I am proficient in Wyckoff schematics whatsoever, but this is an experiment that I have been studying for lately and I want to take a trade like this if it presents. For now, only observing.
If the setup triggers, namely it finds support on the highlighted box, after it breaks the trendline channel, then I'll be longing for the big run-up.
ALGO came back to retest a massive level at 0.275$ and bounce hard from it. I believe any kind of retest of the red (intra-day) line is a buy with an upside target of 0.525$ Stop = daily close below 0.275$ 6R in a matter of few weeks.
Just wait for it to break 3700 sats area at least on the daily time-frame, preferably weekly TF as well. I'd take it to 7700 resistance zone and then 12100. The most important level is the 3700 since price has been trading below it pretty much for almost a year and I am closely watching it. I will add all the way up to 7700 if we get those weekly green dildos...
You might ask what happens when the magnet that pulls the price gets broken? Well, this is a no brainer to me. After a huge accumulation range breaks to the upside it is not going to end up stopping 20-30- or even 50% up. Have some crazy targets set up.
If we start closing above this 0.0076 level and trend up, we will have a huge, market-wide blow up of prices. That aside, I punted a long here. Fingers crossed .
This is going to provide at least 3x by the end of Q2. If you can't see it, I can't help you.