Bitcoin Double-Top: A Repeat Of 2021?

29 окт.

Back in 2021, Bitcoin hit a major high in April. 210 days later a slight higher high, and a technical double-top, was hit in November.

The first high toward April 2021 was preceded by rising volume.
The second high toward November 2021 was preceded by decreasing volume.

In 2024, the first high reaching March was preceded by rising volume.
The second high toward October 2024 was preceded by decreasing volume.

➢ The November 2021 higher high/double-top ended in a major crash (the decreasing volume was a strong revealing signal).

➢ The October 2024 lower/higher high/double-top has very low volume and also very, very low market participation, only whales are playing right now (no retail).

Will the second high of 2024 lead to a major crash?
This is a high probability scenario.

Bearish at resistance.
Bullish at support.

Q: What is the difference between December/November 2022 and October/November 2024?
A: The price... One was a bottom and the latter is a top.

Patience is key.

Thanks a lot for your continued support.

Namaste.

31 окт.

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Looks like somebody is going to be selling some Bitcoins... Whale activity.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 8,001 #BTC (567,816,876 USD) transferred from unknown wallet to #Coinbase.

31 окт.

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🅱️ Fake Bullish Breakout (Bull-Trap) Explained

The week is still young, it is not over. Bitcoin peaked last week at 69,586 and closed at 68,035. Compared to 29-July, the week that started the major drop ending 5-August, the market produced a lower high. People remained bearish because prices were still "trading below resistance."

This week, as soon as it starts, Bitcoin moves above resistance, in reverse, people would become extremely bullish because now Bitcoin is trading "above resistance," but this is dangerous because the week is young and confirmation only happens after the week closes. It can happen that Bitcoin moves above resistance for a few days just to come crashing back down, and this is exactly what we are seeing now.



The current session is the last candle on the chart, to the right.

Notice the lower part of the chat and see the trading volume bars; it is super low. Extremely low to be honest. A real break of resistance would be coupled with really high, super high volume but this isn't the case.

The week is not over, it is only Wednesday. If Bitcoin moves lower and closes below 68,035, you would end up with a long upper wick and a red candle, making the current action and the complete move a classic bull-trap, a fake bullish breakout. This is a market move that is perpetrated with the intention of fooling traders into believing that market conditions have changed, instead of a drop next, we would see 100K. When traders start buying, at the top, then the whales can sell and that's the trap; end of the move.

To be fair, the week is not over, and it can end up moving in either way.

If it moves and closes below 70K you have your bull-trap and bearish confirmation. If it moves and closes above 74K, the conditions are better but still mixed. It doesn't matter how hight it goes, you are still seeing Bitcoin trading near a top. A top is the worst place to go LONG.

Give the market time to unravel. I am considering both sides but the highest probability scenario is the bearish trade, why? Because we have hundreds and hundreds of Altcoins that are down and when Bitcoin is up and growing, the Altcoins tend to do the same. The fact that Bitcoin is up and many of the top Altcoins are down means that this move so far is fake.

We will see a new low before the correction ends.

Patience is key.

Thank you for reading.

Namaste.

2 нояб.

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The week is about to close and the weekly timeframe on all the top Altcoins is ultra-bearish right now. Unless everything grows massively tomorrow, we have the perfect scenario for a massive major crash.

Some examples of ultra-bearishness can be found below (these are the Crypto-giants):

✴️ Ethereum Weekly Leaves No Room For Doubt!

✴️ Solana Weekly: Crash Confirmed

✴️ Dogecoin To The Moon!

✴️ XRP Full Analysis With Long-Term Support & Resistance + Prediction

✴️ 💰 Binance Coin Last Call Before The Crash (5X Short Incl.)

✴️ Bitcoin Cash Turns Bullish Or Bearish Impulse? & Bitcoin

Thanks a lot for your continued support.

Namaste.

2 нояб.

Заметка

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✴️ Fantom's Last Correction: Bitcoin & The New 2025 Bull-Market

✴️ Injective Trading Below Resistance; Lower Low Next

✴️ Celestia Potential 50% Drop In The Making...

✴️ SUI Update: Conditions Have Not Changed

✴️ Chainlink, Bitcoin, The Altcoins Market & New All-Time Highs

✴️ Toncoin: What To Do Now? How To Approach This Pair?

✴️ Aave Token: Rising Wedge & Head & Shoulders

✴️ Aptos Mid-Size Correction Update

3 нояб.

Сделка активна

This week has the highest bearish volume since July.


Notice MA200, minimum 40K.

The main support levels are 55,000, 44,000 and 36,000. We have to wait and see how it will all develop.

It is still early and prices are trading high.

Try and think how things would look like if Bitcoin were to close red 3-4 consecutive weeks.

Once the low is in, we will never look back. The world is about to change. We are getting closer and closer to 2025.

Thanks a lot for your continued support.
Thanks for the trust.

Namaste.