MA200 | A Trolls Nightmare

22 thg 9

This is what makes it really hard for trolls to sleep at night, signals like this one...

Good Sunday my fellow Cryptocurrency traders, are you ready for a crazy Monday?

We never know if it will actually happen on Monday or Tuesday, or Wednesday or next week or next month, it is obvious that Bitcoin has been going lower and it keeps on going lower and this has been happening for months.

A new lower high is in. This is the sixth major lower high in a row.

It came to my attention the fact that people were celebrating, actual celebration and worldwide coverage because Bitcoin hit 63K. Excuse me, I love Bitcoin, but there is nothing to celebrate.

We either celebrate when Bitcoin goes bullish on the way up (above 70/71K), or when Bitcoin turns bullish on the way down (be ending the corrective phase).

The fact that the whole market was celebrating a non-event, is indicative that some anxiety is lurking behind the scenes. When we are sitting on a strong position, we do not celebrate small wins, we just watch with a detached attitude exuding an aura of equanimity, don't you agree?

When we are on a strong position we just let it all go.
When we are on a weak position, we celebrate when we get any confirmation that supports the position we hold.

MA200 is a major and very important indicator, it works great with Cryptocurrencies.

When prices are below this moving average, we see it as a long-term bearish signal. When prices are above, we see the potential is open for growth.

Bitcoin is currently trading below MA200 and this level is working as resistance now and it is being confirmed as resistance after a lower high... This is not good. It confirms the bearish bias and the recent bounce happened on low volume.

Everything keeps pointing down.

This is honest analysis based on the chart signals.

Thanks a lot for your continued support.

Namaste.

23 thg 9

Ghi chú

So far it seems the shorts are being squeezed. Market move to remove over leveraged traders.

MA200 is working as resistance but there is obviously some bullish action around this level.

We have a rising wedge pattern and trading volume continues to be very weak. (Bearish.)

It needs time... The entire dynamic continues to point down when all is said and done.

Let me know your thoughts and opinions in the comments section below.

Thanks a lot for your support.

23 thg 9

Ghi chú

The daily session just turned red and Bitcoin continues trading below MA200.


The DXY opened bullish.
A bullish DXY supports a bearish Bitcoin.
This might be the last short squeeze before the drop. If it isn't, watch out for more squeezes. This isn't straight up bullish action but rather the removal of shorts before lower prices.

23 thg 9

Ghi chú

When you look at related pairs such as SOLUSDT (Solana) and Notcoin (NOTUSDT), you can see that this is not a real move, as they are not moving higher.

If Bitcoin is already bullish, in the sense that higher highs and higher lows would be the norm and a new uptrend becomes established, you would see related pairs such as the ones mentioned above producing massive gains. When you look at SOLUSDT daily, you can see real weakness and the same for NOTUSDT, just to mention two.

When Bitcoin is not clear we can always look at the Altcoins for clues.
The smaller Altcoins of course are a different game right now and these are bullish because they already hit bottom. But these bigger projects move together with Bitcoin and the fact that they remain bearish and weak supports the fact that the current move we are seeing on BTCUSDT is a short squeeze.

Good morning.

Namaste.

24 thg 9

Giao dịch đang hoạt động

The day closed below MA200 (resistance confirmed) and even produced a reversal candle.

24 thg 9

Giao dịch đang hoạt động

The dynamic changes if a drop doesn't happen right away.

Instead of "resistance confirmed" we get "resistance being challenged."

The longer Bitcoin moves challenging MA200 as resistance, the weaker it becomes.
If a drop happens after this level is hit, then the resistance is confirmed and we can expect lower prices.

If instead we see the same resistance level being challenged over and over, then the bulls are trying to break through.

Namaste.

24 thg 9

Ghi chú

After MA200 the immediate resistance is 65,000 followed by 68,000.
Then we have the major 70/71K.

Bitcoin continues trading below MA200 on the daily timeframe.

Thanks a lot for your continued support.

24 thg 9

Giao dịch đang hoạt động

It is still bearish though and Bitcoin is very likely to continue with the lower highs and lower lows pattern for a while; mid-term basis.

The correction bottom will hit likely September 2024 or November 2024.
Stay alert until the low is in and fully confirmed. Do not be distracted.

The smaller Altcoins are looking great and growing for months.

The bears will continue to get liquidated (over-leveraged) and when they run out of money the market will crash.

The exchanges can see their balances, their orders and everything else. So the game will continue until they run out of money. They have to take out the gamblers, and this is good.

Once we get rid of the gamblers, the market will continue with its classic moves.

We will see down, up, down, up, down, up... We will see massive growth in 2025 including a new extreme All-Time High.

The escalation of war, going nuclear, will be used as the excuse and reason as to why the market crashed. This can be true, but notice that we have been reading the chart bearish since earlier this year.

While geo-politics and all the rest will definitely reflect on the price, the chart will tell you many months in advance.

Only through a chart were we able to predict a major crash in August.
Only with these chart can we predict the major crash that is coming next.

It will be such a huge surprise for the masses, that we will all wonder... How can it be a surprise, if we have been reading it about here daily for almost an entire year?

Namaste.

24 thg 9

Ghi chú

Here we have a conglomeration of resistance right ahead, all below 72,000.


➖ Bitcoin has been growing for 50 days since the 5-August low.
➖ Bitcoin has been growing for 18 days since the 6-September low.

➖ The inverted correction from 5-July through 29-July lasted 24 days.
➖ The inverted correction from 1-May through 27-June lasted 37 days.

Remember there is no volume, no buying power.

When the bottom is truly in, we will see so much buying volume and pressure that there will be doubt the corrective phase is over.

This sideways action (distribution phase) supports the Altcoins market while it strengthens its support and bottom and recover.

We will continue to track the market for you.

Thanks a lot for your continued support.

➢ We continue 100% bearish on Bitcoin.
➢ We continue 100% bullish on certain Altcoins.

When we change from bearish to bullish we will let you know with all the signals and details explained.

Thank you for reading.

Namaste.

25 thg 9

Ghi chú

Notcoin is turning bullish now, strongly... 70K is opening up.

25 thg 9

Đóng lệnh: dừng lỗ

Bitcoin closed daily above MA200.

The bearish bias has been invalidated.

We will share a new updated with an updated view of the market.

Thank you for all your comments and your amazing support.

It is truly appreciated.

Thank you for all the energy, all the enthusiasm, all the feelings, everything.

I keep growing and learning every single day.

You guys are the best.

Namaste.

25 thg 9

Giao dịch đang hoạt động

Bitcoin is now trading back below MA200.
Closing below MA200 would produce what is called a "failed signal."


This makes the bearish signals and potential many times stronger.
A failed signal would only be confirmed after the day closes below MA200 ($63,880).

26 thg 9

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🅱️ The Bullish Side Considered (Monthly Timeframe)

This is another interpretation of the monthly chart based on price patterns:

This is definitely a consolidation pattern and 100% bullish.
This is on the monthly timeframe.

There are two ways to read the lower wicks on the candles:

1) Bullish because each time bears are selling, buyers jump in and protect the market.
2) Bearish because support is being weakened by multiple challenges.

Such a pattern if breaks to the bullish side would produce a new high of around $100,000 or $120,000.

A break and close monthly above $71,000 would be necessary for the bullish potential to become active. So it is still tricky even if we consider it from a bullish perspective because the price is trading below 64K right now.

Another long-term bullish signal would be based on the moving averages, Bitcoin continue to trade above all of them:

These can be read as strong support.

So there you have it, we look at both scenarios... Share your opinion in the comments section.

Namaste.

26 thg 9

Giao dịch đang hoạt động

🅱️ Bitcoin Weekly Leans Bearish (Same Pattern)

When we look at the same situation on the weekly timeframe it becomes a completely different story, follow me for a few minutes.

Here is the chart:

We have four red arrows pointing down, lower highs.
The first three are pretty close, the fourth, further down.

Unless we see strong bullish action and a rise above 70K weekly, this chart can be read as weakness. Weakness in the sense that Bitcoin failed to meet the same resistance (the upper-trendline) as before and thus the last lower high is much lower compared to the previous set.

Each lower high led to a lower low.
If we get another lower high, we are bound to get another lower low.

The situation is critical, time is of the essence.

If Bitcoin doesn't move above 70K this same week, the situation looks bleak.
It can take as much as it wants as long as it goes up, but the truth is that it continues to trade below 70K and the chart clearly shows a bearish bias (lower highs and lower lows).

There you have it my friends, both side taken into consideration... I can continue, just let me know in the comments. We can found endless data on the chart. I was surprised to see people asking me to update when I published so many updates... But it is my pleasure to comply.

Thanks a lot for your continued support.

Namaste.

26 thg 9

Giao dịch đang hoạt động

We have a top signal based on candlestick reading on the 1H chart (short-term).
We have two candles producing this signal:

These signals are supported by high volume.

27 thg 9

Ghi chú

3 Line Break (notice the high price —71K):

Notice the chart structure.

Consider the difference between a low price/bottom, vs a high price/top.

We are definitely looking at a top.