BITCOIN - Bullish Clues

10 сент.

Had a nice 6% bounce yesterday and now back in the safer area of the descending broadening wedge.

So far this week the candle body is an Inside Candle.

This is a pressure building candle and it often occurs where balance is being restored and momentum is building for an impulse wave.

If we were to see consecutive Inside Candles then that would be quite a clue.

So its a long way to go until week close, but so far all the price action technicals in my work show that Bitcoin is bullish here.

Of course the FED interest rate is coming and we may well see very high volatility following this.

If the volatility is bearish then it can easily drag Bitcoin down, at least in the short term.

But the chart on its own merit only looks bullish here 🧐.

Not advice

12 сент.

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Back up to 58K and now the a bullish engulf is printing and so this is now even more bullish.

And now this area very much looks like an Inverted Head & Shoulders.

This is exactly what we want to see as we approach next week's interest rate cut 🧐.



Worth noting that there are bears everywhere in this area and as i've been showing my clients, there has been an outpouring of bearish content on YouTube, Twitter etc.

In addition the Bitcoin Fear & Greed Index saw "Extreme Fear" last week.



And do notice also a couple of commenters turning up to my page to share their bearish views.

To be fair, crypto and precious markets still have a decent amount of bulls.

And I think that in crypto, that is market participants largely being unaware of the historical context of FED Interest Rate Cuts.

But in stock markets where traders are often a bit more fundamentally aware; it is extremely bearish now; more so than I've seen ever I think.

Everyone "knows" that a FED rate cut is bearish.

And they "know" a recession or even a depression is coming.

But I would suggest that charts look bullish in crypto and elsewhere.

In fact its starting to look like an "everything" melt up bull market may be about to begin 🧐.

Watch out for other content providers with technical reasoning for a market crash.

They are largely trying to piggy back their technicals onto what they believe to be true about the FED cut, hoping that they'll look like a genius😸.

14 сент.

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Life changing dip buys right now especially in low rank altcoins.

Many are breaking out from DEEP .

BIG multipliers.

Are you sleeping 😼?

16 сент.

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A bullish engulfing candle has printed for the week.

And now we can see a very clear and very symmetrical Inverted Head & Shoulders Pattern has printed.

This pattern also rhymes with the three lows of a Wyckoff Accumulation: SC - Selling Climax, ST - Secondary Test and LPS Last Point of Support.

In the Wyckoff schematic LPS is the first low of the uptrend.

And I think that could be happening here.

The correction could also extend and the Right Shoulder be taken out to see another low.

But when Bitcoin becomes tidy in corrective process then there is balance...

And a balanced corrective trend will lead to an impulse wave.

And obviously I think that impulse wave will be the next wave up to take out ATH.

Then the party will really have started.

That said, we're heading into a bearish stronghold next week with the probable monetary interest rate cut next week.

And many bears believe that we're on the brink of a devastating collapse.

These events bring high volatility and there could be wild fake-outs through and after FOMC on the 17th-18th.

But everything looks bullish in risk on; in the stock market, in metals and crypto.

The only charts that are noticeably bearish are dollar, bond yields and crude oil.

And these three bearish charts are all potentially bullish for risk on such as Bitcoin.

So it couldn't really look much more bullish.

It will be a very interesting and tense week coming up.

Hold on to your hats.

17 сент.

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FOMC has begun today and Bitcoin is back up to 61K in a hurry ❗️

As I described in detail in the weekend video, I think that this is now the next wave up from the August low.

So we've had the 0.618 Golden Window dump following the selling climax.

This is very common as the last of the bearish cause pours out but only to make a higher low.

That forms the Inverted Head & Shoulders.

And so now perhaps we're seeing the trend change in character:

If this is the next wave up then we will likely see more shallow pull backs and quick recoveries.

RSI slowly rising is another bullish clue.

Looking good here 👍.

18 сент.

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FOMC in progress.

If the interest rate is cut by 25 basis points then I think the markets may not get too wild since that is what all the pundits are expecting.

And so the markets have probably priced that in already.

If its a 50 point cut then that may signal something is wrong and could spook the market.

So a 25 point cut and all risk on markets may be good to move up after volatility subsides.

Lets see what happens...

18 сент.

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Its a "jumbo sized" half point cut.

Its very hard to know how the markets will react to this half point cut. Some pundits think that such a big rate cut can stimulate growth in a weakening economy, others think that it shows instability and perhaps that the FED have left it too late for a "soft landing."

The markets have looked very stable up to this point.

Let's see what the increased volatility brings.

19 сент.

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For as long as I've been trading (7 years), there's never been a time I can remember that so many thought they knew what would happen next in the markets:

Recession, depression and a major stock market crash.

And its funny how the psychologies entangle in this web of market participants.

Could it be that the moment that the herd "knew" that a recession was inevitable was actually the time that ultra high risk (altcoins, new breed pharma / EV stocks) came to life ?

It could well be...

SEI is rank #61 but much more volatile than other similar ranked coins so there is much more potential for profit if you can make an accurate technical entry.

I gave you guys this one in prime position ~ see my ideas page for details:

Now breaking out with an enormous 24% pump today.

It is no.2 in today's top 100 gainers 😼.



So its important to take care until FOMC volatility subsides, but altcoins are suddenly looking very lively.

19 сент.

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Stock indexes have had an enormous gap up at market open and I think it will be a bullish breakaway gap; leaving the bears behind.



This very much opens the door for Bitcoin and the uptrend is now starting to look quite tasty with Bitcoin now up to 63.5K

As I have been saying, everything has been as expected since the selling climax low.

We saw the weak 1:0.618 recovery bounce from the August selling climax.

This slumped to the 0.618 retracement Golden Window as is very common for Bitcoin and I predicted this from the 1:0.618 high

Since then the trend character has changed to become more bullish.

And this is where many traders have been fooled.

So many have been calling for lower lows or a post interest rate cut crash.

But no, the trend is up since August.

...

Funny how yesterday, pre cut, our big money pals from BlackRock were advising us to buy risk off...

Of course we can't trust them at all and surprise surprise; it looks like this is the time for high risk and ultra high risk to shine 😅.

So after months of boring price action for Bitcoin and bearish altcoins, this could be a very exciting and lucrative passage.

The GREAT deep buys in altcoins are in this area. I have shared a few with TradingView but I didn't post my favourites just yet 🚀.