BTC Treys

12 thg 10

BTC to 33k for various reasons.

1. Since the beginning of Bitcoin, historical data shows BTC does yearly ATH and ATL's. What's interesting the pattern; every year since 2011 we have seen a correction of 60%-80% retracement from the ATH (followed by exponential gains) with the exception of 2024 which we have only seen a 20% retracement. 60-80% retracement for 2024 should put us at (BTC) 15k-30k.

2. Supreme Court grants US Government permission to sell (auction) 69k worth of BTC from Silk Road Case after legal win. Even if they do not sell, this will create a panic and fear and cause others to short therefore helping the price reach our target.

3. Monthly timeframe: https://www.tradingview.com/x/Znm5w5dG/

• we can see ineverted head and shoulder pattern at the bottom between 2022 and 2024 never retested. This is the key to our target as it is slightly above the 60% retracement from last ATH.
  
• BTC falling is also supported by the rejection/resistance on the Monthly supply zone which never broke and actually held pretty well.
  
• Pattern wise I can see a double top pretty much formed, closing above neckline and retesting the high (bull trap) so in my books this is ready for a sell.
  
• Candle wise we had a bearish engulfing followed by the retest of the high I just spoke about. However price failed to close above; still bearish.
  

4. Weekly timeframe:

• Pattern - clear bearish pattern anyway you want to look at it; triple top, head and shoulder or double top.
  
• Candle - beautiful price action, same as monthly with a bearish engulfing and retest of the high eventually closing under the neckline of bearish engulfing pattern.
  

SPOILER: https://www.tradingview.com/x/y1vReSeO/

18 thg 10

Đóng lệnh: dừng lỗ

Not sure if its true or not but BTC spike may have been caused by someone hacking SEC X account and posting about BTC ETF being approved. I read the guy was arrested.

Anyways.... we just can't win em all :)