I outline time duration and potential upside for the current trend signal in this chart, I had described this possibility in my previous publication. As a positive, we have pretty pessimistic wall of worry kinda sentiment now, and odds of a rally are big with this timeframe being in control of most of the major swings historically in $Bitcoin. Moving below 47k would invalidate this analysis likely.
Let's see how it goes, best of luck!
Cheers,
Ivan Labrie.
Let's see how it goes, best of luck!
Cheers,
Ivan Labrie.
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Keeping an eye on this, likely to get a consolidation near the highs, hitting this line we could see a reaction, if not just vertically climbing after Sunday futures open.
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Update
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Now coiling for another move up, big picture trend intact. The launch of the $BITO etf has made $BTCUSD be more dependent on US market hours activity.
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$BITO 15m has been very accurate thus far. We can expect intraday volatility to match US market hours from now on imo.
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CME signal here (spot triggered with Sunday's bar) 72615 by Nov 26th
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Uptrend failed, a down trend triggered, expires tomorrow. (not far from the daily close already)
Watch the long term support area right here and a bit lower, buying here is a gift for a long term investor. If you missed or you want to add, it is your chance, ideally sub 55411.72. In a perfect world, we won't let people buy at their limit order levels, obvious technical level people watch is 53k, I rather not see that get hit. Hitting 50500 would make the monthly trend less likely to reach target, and rather anticipate a consolidation for longer before moving higher. Crossing fingers...
Uptrend failed, a down trend triggered, expires tomorrow. (not far from the daily close already)
Watch the long term support area right here and a bit lower, buying here is a gift for a long term investor. If you missed or you want to add, it is your chance, ideally sub 55411.72. In a perfect world, we won't let people buy at their limit order levels, obvious technical level people watch is 53k, I rather not see that get hit. Hitting 50500 would make the monthly trend less likely to reach target, and rather anticipate a consolidation for longer before moving higher. Crossing fingers...
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Down trend continues:
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Managed to ride a move in $ETHUSD from 4261 to $4590 last 2 weeks, holding cash now and short $BTCUSD with 3.5% size. Long $ETHUSD was with 100% of crypto account, so it netted a 6.51% USD return, at least.
$BTCUSD isn't acting strongly, and broad markets are risky, things look bleak.
$BTCUSD isn't acting strongly, and broad markets are risky, things look bleak.
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If you follow me on Twitter you've caught a lot of good trades and avoided this decline...
Now looks like things can go towards 21k, if we close under the 2w mode here. Monthly RgExp was wiped out, not a good thing. I think a long term bear market started again.
Now looks like things can go towards 21k, if we close under the 2w mode here. Monthly RgExp was wiped out, not a good thing. I think a long term bear market started again.
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On track as per the last bearish update...sadly.
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