Trading is all about patience, managing positions efficiently and most importantly how risk adverse one could possibly be when a probable path for an asset emerges. BTC kept going up irrespective of Fed's rate hikes and the bond futures situation which was not to be expected. This was attributed to the institutions getting in and ETF's being approved. The problem with human nature is to always look at everything as a cause and effect pair. We seek to find cause to predict the future and use the effect to explain after something has already unraveled. Now that inflation seems to be mellowing out on paper even though you don't feel it in real life and the rate cuts hovering near the horizon, how would BITCOIN react? Will this cause lead to an effect and will that effect align with probable path that's emerged? Only time will tell!
Institution or retail, markets don't heed to anyone and everyone will bleed if you don't have patience or cannot manage your positions effectively!
Institution or retail, markets don't heed to anyone and everyone will bleed if you don't have patience or cannot manage your positions effectively!
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Disclaimer: These are not trading signals. Trade at your own risk!
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Flash crashes are quite common in such runs, a possibility of a wick to 66050 is looming.
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Market has been rewarding the buy the dip behaviour so far, training everyone subconsciously. Even the one's who have been on the sidelines are enticed to step in now. Will it reward again or punish all of sudden?
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DXY is warming up, conservative target of 108 is in sight. Where does that leave Bitcoin?
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-Optimism and euphoria surrounding a possible new BTC high by the end of the week
-Possible ETH ETF approval in two days
-Extreme greed & FOMO
Is it just me or all of this seems like a clear setup for the perfect rug pull??
-Possible ETH ETF approval in two days
-Extreme greed & FOMO
Is it just me or all of this seems like a clear setup for the perfect rug pull??
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I've almost forgotten the feeling, when BTC starts dumping and we buy and buy and wait and wait for any sort of meaningful bounce but all we get is just meaningless dead cat bounces! Such volatility has been missing in the market for a long time! Does this mean that Bitcoin is more mature and stable? I think mature and stable Bitcoin is boring. Isn't the raw volatility of the asset is what drew so many people to it in the first place? The promise of waking up a millionaire while in reality you spend sleepless nights dreading the stomach churning red candles watching your portfolio dry up into the void. I miss it all!!!
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Best not step in front of it in the name of "buy the dip"!
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There is a possibility of a pump(over the next 4 days) to ATH before falling down. Probability is very low though! Be safe out there, if you are not sure what to do, just stay away. Don't trust anyone else's opinions blindly (including my own). Peace!
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EURUSD slumps, DXY @ 104.5 -> More red candles for BTC?
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The technicals are looking very bad for BTC right now. A certain ichimoku crossover on the renko chart just signaled 45k as target. Of course this is based on history and history doesn't necessarily have to repeat!
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Working out just as expected. Will accelerate soon enough, possibly reach 56k within the next two 4d candles.
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Keep an eye on the RSI, this is the scenario where the RSI will get floored again and again. Don't buy any bullish divergences, RSI will stay oversold with the price just dumping with no end! Now again this is no prediction! It's just that I've noticed this happen several times before and it's seems very probable right now. Trade safe!
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First target - $62418
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The 66k wick was more like three 3h candles, this only means the drop is more controlled and coordinated. Developing as expected, no change in plans.
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Chance for a quick bounce here but I wouldn't hold my breath!
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Bounce completed
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Nothing noteworthy happened in the last 8 hours. But I'm not liking this pause, losing momentum and making lower highs reduces the probability of this idea to follow through. That said $65830 is the next target.
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The last stand, hold your positions, short stop hunt in progress! Don't give up yet!
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24H Volume is fading away. Repeated behavior that I have noticed, as volume hits absolute low and starts to grow again, price usually spikes in one direction but follows through in the opposite. So if we spike up, we continue down to 56k or if we spike down, we test ATH before eventually dropping down again. Either ways market needs to correct and accumulate lower before growing further.
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Volume dried up, dip to $68131 incoming
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All my trusty technical indicators are broken and not making sense anymore. This is usually when the market does something crazy. Today's candle close is going to be interesting and will decide how the next month will go.
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Volume still on the decline on kraken. 24hr volume is 458! 😅
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Behold, the battle of the weekly close! 😂
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Come on, let's short it and be over with it! Remember less is always more. Don't be so bullheaded!
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The weekly close watchdog algorithms are warming up!
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$68131 was hit
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Absolute zero probability scenario, but it just crossed my mind. How crazy would it be if in the next 2 hours the weekly candle closed red?! 😱😂
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Uncertainty crawling under your skin? Reconsidering your positions? The unsettling feeling, what's about to unfold? Don't let the market get to you! Stay strong!
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Is this the spike up for the follow through to a Higher Low? Maybe even a Lower Low?
Honestly the price action right now is depressing!
Honestly the price action right now is depressing!
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Who can explain the psychology behind this price action/volume? Tell me in the comments!
Who can explain the psychology behind this price action/volume? Tell me in the comments!
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Unless we magically climb up there, below are the targets in sight! All the best!
Unless we magically climb up there, below are the targets in sight! All the best!
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Again, markets don't move in straight lines as most of us think or want it to, so it could take a week or two to get there.
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It will be very premature for bitcoin to attack ATH before June 8th. Lot of wiggle room until then to collect some liquidity lower. As we get closer to June 8, we check again in which direction it is headed.
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DXY up @ 104.7
EURUSD dipped to 1.08
Time for BTC to dump finally?
EURUSD dipped to 1.08
Time for BTC to dump finally?
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It frustrates you, makes you feel it's gonna go to the moon, you fight the FOMO real hard and talk sense to yourself that this is where you sell not buy! But it continues to tempt you until you yield. You say, f it, I'm buying and you throw in the towel and that's exactly when it will dump.
So how hard have you been fighting yourself from buying in this area? That decides if we go up or down. If the struggle wasn't so bad, we go up. If the struggle was really hard and you gave in and just bought, we go lower.
If you just bought, boost the idea, let's see how many more boosts we get from 47. Might actually give us a sense of where we are headed.
So how hard have you been fighting yourself from buying in this area? That decides if we go up or down. If the struggle wasn't so bad, we go up. If the struggle was really hard and you gave in and just bought, we go lower.
If you just bought, boost the idea, let's see how many more boosts we get from 47. Might actually give us a sense of where we are headed.
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Drop to 64.5k on the horizon
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Bitcoin delaying the inevitable!
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The longer it takes, the harder it falls!
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Fasten your seat belts! Here we go!
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Quick rejection at 70k, as long as price doesn't linger, we should be back to test 66.2k, if not decisively break above. Which one is it gonna be? Current volume suggests upwards, let's see!
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The most volatile asset on TradingView seems to be my followers! Lol.. It fluctuates + or - 50, randomly on a daily basis.
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This Borecoin is killing me!
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Imagine, all this trouble only to crash back to 56k 😅
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Enough volume sucked in to turn this around quickly! It's now or never, go bears!
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I will cascade my shorts starting here! Good luck to everyone!
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Oopsie! 😋
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Back to 66k
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66k hit! Who could have seen that coming?!
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Oh, the drop is gonna be glorious!
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Levels posted on May 28th hit. What I can't quite fathom is the time it took reach. This is unusual!
Levels posted on May 28th hit. What I can't quite fathom is the time it took reach. This is unusual!
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Always remember to think like a whale, this is where you short, not buy!
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Through the choppy nonsensical price action the herd is now psychological trained to think 61k is much cheaper than the promise of 80k or 90k. They will buy into the slaughter starting now and will not realize they have been slaughtered until BTC drops back into the higher 30k range. Good luck!