BTC Fear Maxxing

Jun 24

🚨 Market Update: Mt. Gox Trustee to Commence Bitcoin and Bitcoin Cash Repayments in July 2024 🚨

Fresh news this morning about the Mt. Gox Trustee starting Bitcoin and Bitcoin Cash repayments in July 2024 has injected new fear into the markets. As a result, BTC has dipped below 61k.

📉 Chart Analysis:
- I was monitoring the H8 demand area, which had been holding up the price for several days.
- An E9 Whale signal appeared, but was quickly invalidated by a Bearish Engulfing candle.
- After a low liquidity weekend, this news drove the price directly into the Weekly 21EMA, another key H8 demand area from mid-May, where traders had previously pushed BTC back into the 72k supply area.
- Using a Fibonacci tool from high to low of the fixed volume tool, we see a Golden Pocket in this area.
- The MFI and OW Oscillators are bottoming out across higher timeframes (H4 - D1). These levels haven't been this low in a while.

Stay tuned for more updates! 📈🔍

Jun 24

Note

BTC collapsed down into the 58k region, stealing liquidity, now moved back into the golden pocket area which is a good sign. It filled the imbalance on the volume profile. Moving forward would like to see some nice whale signals on M15 / H1 and maybe higher timeframes, stay tuned!

Jun 25

Note

BTC is currently working itself out after yesterdays bloodbath. 🩸☠️

Closed a Pin Bar inside the H8 KL after dipping to liquidate traders & fill inefficiencies from previous move up. No 🐳 Signals printed yet.

H8 KL area is crucial Is also W21 EMA (Green dots) 🙏

Jul 1

Note

BTC Update:

HTF - After the above pin bar formation, we had a move up but it the EMA (Red / green line) was holding it down, and pushed price back down, probably initiating another round of fear - which would initiate selling. From this we had a whale signal appear, and another attempt to push price down likley to initiate buy orders before the spring up which formed a nice double bottom formation right into the H8 Key level area.

Some take aways here: We have now broken above the EMA, but it is untested, we could expect a retest which could be a nice entry point.

We have broken into an uptrend on the sTM (red / green cloud) - The table in the top right shows the trend, (this level is support / resistance) we are switching trend on all tf's below H8. you can see the price levels if we were to continue up and for the levels to switch trend.

The most important for me is the OW trend in the table on bottom right, we have switched trend from H4 to H12, these are tested and optimized trend detectors. Look at where the trend switched down last on the H8 chart (bottom pane) we can see the measurements for the performance on this chart:

On a lower timeframe we have a small fractal of the whole setup here, the H8 double bottom translated down to a fibb entry, and we are now at the first target, so we can expect some pullbacks or consolidation here.

Jul 1

Note

Important detail i forgot to mention - the previous weekly candle was a retest of the 21 EMA. Since this Bull started at the start of 2023, we have seen price try to reach it, and everytime it does it acts as support and rebounds after. Weekly close closed with a retest.

Jul 4

Note

Pullback went deeper than expected here, likley due to all of the fear maxxing, i think people are just trying to exit due to the constant on slaught of bad news regarding 'potential sell offs'. Stock market is printing ATH, and BTC continues to push lower with relentless price action to the downside. Here we can see after the LTF trade, we have come into the H8 KL, (which was untested)

Jul 4

Note

Following the PA here...

Oct 14

Trade closed: target reached

PA followed on post above.