🚀 Is the BTC Bear Market Low Set?!
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🚀BTC has seen the most bullish price action since the all-time highs with a weekly move currently 50% off the lows. The prior March 2022 weekly “Bull Fake Out” took 62 days to play out and pushed 46% off the lows prior to leading to a record 12 week pullback and bear market lower lows. The question at this point everyone needs to answer for themselves is “Is the bear market low set?”.
The Bull Case: The June 18th Super Stack oversold conditions (simultaneously oversold from the weekly to hourly) marked the psychological bear market low and the past 6 months prior to the Bull Rip was the Accumulation Zone between 25K & 15.5K. BTC is now in an uptrend on all time frames except the monthly. Since the $15,563 bear market low BTC has broken to weekly higher highs. Closing above the tertiary 21.5K lower high, briefly consolidating prior to wicking through the secondary weekly lower high at 22.8K. BTC has pushed 50% above the prior weekly low and is more likely to print a higher low on the next weekly consolidation prior to confirming a monthly uptrend. Confirmation of a monthly uptrend would be the final step to calling the bear market low set.
📍 Simple Statement: If BTC breaks to monthly higher highs and closes above the weekly 200 EMA (above 25K) it is very likely the Bear Market low for this cycle is set at 15.5K.
The Bear Case: The current bullish price action is simply a parabolic short squeeze off the lows seeking the weekly 200 EMA and monthly bearish double top at 25K. Please note the weekly 38% retracement is at 28K. Once the remaining bears are fully liquidated price will resume the monthly downtrend potentially seeking monthly lower lows. The Bulls have proved nothing until price pulls back and prints a monthly higher low. “Don’t fight the FED”. The DXY is more likely to print a monthly higher low, the record fast interest rate hikes are known to have a lagging bearish effect. Unlike BTC both the NAS100 & SPX500 have yet to break to weekly higher highs. BTC is more likely to follow the traditional market indices on the macro.
📍 Simple Statement: If BTC fails to hold a weekly bullish retracement level (38-50%) during the next weekly consolidation bear market lower lows are back in the conversation.
✅IMO: We have witnessed an unprecedented parabolic short squeeze off the lows which I have coined as a “Bull Swan Event”. In this move price Bull Ripped in an unsustainable fashion taking very little time to consolidate and is now lacking macro support levels. If the bullish price action continues the next place I will be taking a look for dynamic resistance is the weekly 200 EMA which is confluent with the monthly lower high at 25K. What matters is the weekly pullback and everyone needs to keep in mind it is more likely for BTC to print a weekly higher low which I will be scouting at first 4h oversold conditions.
☑️ Personally: Almost all my Green List tickers are now red on the short side. I will not be averaging up my shorts until I see 4-12h bearishly divergent price discovery pivots. Off the lows I have been rinse & repeating the following on the long side: for AltCoins continuing to break to higher highs I am naked Day-Trade longing 15-30m confluent oversold conditions (RSI less than 32% while price at a dynamic support level) targeting lower highs. For those tickers failing to break to higher highs I am “bottom fishing” 1-4h confluent oversold conditions with 2-4 bullet entries. At this point I need a minimum of 15m oversold to make a long entry. With each BTC macro HH the odds of a “Bull Rug Pull” increase. We all know at some point the ass is going to fall out of this price action and there will be a dramatic Bear Dip.
👉 It is important to note:
1. BTC.D (Bitcoin Dominance) remains on the rise.
2. The DXY remains week and has broken to daily lower lows seeking 101. We know is most likely for the DXY to print a monthly higher low compared to 89.5. The DXY monthly low will likely coincide with BTC’s local high.
2. Personally, I am on watch for a bearish daily H&S (Head & Shoulders) on the NAS100 which remains in a weekly downtrend. Weekly higher low is at 10,668.
3. The SPX500, although more bullish than the NAS100, also remains in a weekly downtrend. All eyes are on the weekly higher low level at 3,763.
🚨 stream Team Green List examples of HH tickers: AXS, BTC, ETH, GMT, SOL.
Top 5 most bullish 50X AltCoins IMO: APT, FTM, GAL, NEAR, OP.
*️⃣ Make your own trade decisions, I am only an educator on the Strength Trading System.
🚀BTC has seen the most bullish price action since the all-time highs with a weekly move currently 50% off the lows. The prior March 2022 weekly “Bull Fake Out” took 62 days to play out and pushed 46% off the lows prior to leading to a record 12 week pullback and bear market lower lows. The question at this point everyone needs to answer for themselves is “Is the bear market low set?”.
The Bull Case: The June 18th Super Stack oversold conditions (simultaneously oversold from the weekly to hourly) marked the psychological bear market low and the past 6 months prior to the Bull Rip was the Accumulation Zone between 25K & 15.5K. BTC is now in an uptrend on all time frames except the monthly. Since the $15,563 bear market low BTC has broken to weekly higher highs. Closing above the tertiary 21.5K lower high, briefly consolidating prior to wicking through the secondary weekly lower high at 22.8K. BTC has pushed 50% above the prior weekly low and is more likely to print a higher low on the next weekly consolidation prior to confirming a monthly uptrend. Confirmation of a monthly uptrend would be the final step to calling the bear market low set.
📍 Simple Statement: If BTC breaks to monthly higher highs and closes above the weekly 200 EMA (above 25K) it is very likely the Bear Market low for this cycle is set at 15.5K.
The Bear Case: The current bullish price action is simply a parabolic short squeeze off the lows seeking the weekly 200 EMA and monthly bearish double top at 25K. Please note the weekly 38% retracement is at 28K. Once the remaining bears are fully liquidated price will resume the monthly downtrend potentially seeking monthly lower lows. The Bulls have proved nothing until price pulls back and prints a monthly higher low. “Don’t fight the FED”. The DXY is more likely to print a monthly higher low, the record fast interest rate hikes are known to have a lagging bearish effect. Unlike BTC both the NAS100 & SPX500 have yet to break to weekly higher highs. BTC is more likely to follow the traditional market indices on the macro.
📍 Simple Statement: If BTC fails to hold a weekly bullish retracement level (38-50%) during the next weekly consolidation bear market lower lows are back in the conversation.
✅IMO: We have witnessed an unprecedented parabolic short squeeze off the lows which I have coined as a “Bull Swan Event”. In this move price Bull Ripped in an unsustainable fashion taking very little time to consolidate and is now lacking macro support levels. If the bullish price action continues the next place I will be taking a look for dynamic resistance is the weekly 200 EMA which is confluent with the monthly lower high at 25K. What matters is the weekly pullback and everyone needs to keep in mind it is more likely for BTC to print a weekly higher low which I will be scouting at first 4h oversold conditions.
☑️ Personally: Almost all my Green List tickers are now red on the short side. I will not be averaging up my shorts until I see 4-12h bearishly divergent price discovery pivots. Off the lows I have been rinse & repeating the following on the long side: for AltCoins continuing to break to higher highs I am naked Day-Trade longing 15-30m confluent oversold conditions (RSI less than 32% while price at a dynamic support level) targeting lower highs. For those tickers failing to break to higher highs I am “bottom fishing” 1-4h confluent oversold conditions with 2-4 bullet entries. At this point I need a minimum of 15m oversold to make a long entry. With each BTC macro HH the odds of a “Bull Rug Pull” increase. We all know at some point the ass is going to fall out of this price action and there will be a dramatic Bear Dip.
👉 It is important to note:
1. BTC.D (Bitcoin Dominance) remains on the rise.
2. The DXY remains week and has broken to daily lower lows seeking 101. We know is most likely for the DXY to print a monthly higher low compared to 89.5. The DXY monthly low will likely coincide with BTC’s local high.
2. Personally, I am on watch for a bearish daily H&S (Head & Shoulders) on the NAS100 which remains in a weekly downtrend. Weekly higher low is at 10,668.
3. The SPX500, although more bullish than the NAS100, also remains in a weekly downtrend. All eyes are on the weekly higher low level at 3,763.
🚨 stream Team Green List examples of HH tickers: AXS, BTC, ETH, GMT, SOL.
Top 5 most bullish 50X AltCoins IMO: APT, FTM, GAL, NEAR, OP.
*️⃣ Make your own trade decisions, I am only an educator on the Strength Trading System.
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🚀Bybit partner.bybit.com/b/enthuzed
🚀MEXC mexc.com/landings/enTHUZed
✅ Discord discord.gg/XnNNMN9
#join-stream-team for VIP info
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