since now USDT is not compliant, lets go with BTC/USDC"All past movements" means that the last bullish or bearish trends are over, from 2020 till the past November run-up.
The price must be retraced before reaching the new targets, and the liquidity left behind must be recovered. There are too many signs to suggest selling rather than buying. Any bullish movement won't be strong enough to bring the price over the last ATH and create a new BOS, which would be significant for the long position analysis.
From a fundamental perspective, the new taxes and norms in action this 31st December led the small investors to wait for the end of the year before investing. The Institutional investors, on the other hand, will wait for the price to drop before buying, and at this point, they will also wait for the year's closure to purchase new coins since the balances must be generally closed by that time.
This is the fact, as a 5-year trader, the BCT volatility index is getting closer to the normal % every month.
Thus, the price must follow a few new rules.
We are still waiting for the big bullish shot post-halving, which has not arrived yet, even if the 100K were a high psychological winning, the rally is not over yet.
There are millions of liquidations waiting for around 93K. If the price goes around 91K, it is more likely to drop rapidly to 81K-78K.
Will it drop? If we're lucky, yes. Just enough to create a correction, probably a new pennant as chart shape and price action pattern
So, it's better to have solid growth with slower growth. In the past time, we have seen even more range situations where the price was somehow consolidating itself (a bit for the institutional action, a bit for fundamental reasons). We don't need to care about why but about what we are doing. The volatility and rapid response that BTC gave are now over. We have a more solid asset that is not a pure speculative coin as before, but it has created a new market and economic system.
124000$ new target
81000$ strong support and liquidation spot
78500$ significant for technical analysis but now actually relevant to the liquid one
71000$ last retracement level and resistance
If we reach 71K, the bullish will be sharp. The drawdown will create a good buying situation and will lead to higher volumes and capital to reach the next target.
BTCUSDC trade ideas
How to determine if price has finished pullbackWe can determine if price has finished pull back.
1) Break of 1st structure or Trend line (TL).
2) A new Extreme, another Breakout below will happen if retracement is sell.
It tells us the climax or retracement. we can look for direction entry when price signals.
BTCUSD Market Flow - 18-09-2024Direction Weekly Sell.
Direction Daily Sell.
Current flow Daily retracing upto Daily Swing High.
View Bullish until swin High.
Current View last H1 Stucture have been broken yesterday. Price started retracing back to Oring of the move. Expecting the bullish continuation.
marking EG zonesI have just published an indicator for marking trend and inside candle.
this chart will help in understanding marking EG zones.
- EG system
- Follow any 3 TF set (High (Direction), Middle (Confirm Direction), Low (Entry))
Forex
MN1/W1/D1
W1/D1/H4
D1/H4/H1
H4/H1/M15
H1/M15/M5
M15/M5/M5
Stock
MN1/W1/D1
W1/D1/H2
D1/H2/M30
M30/M5/M1
- Need to see same type EG in all Time Frame to place a trade. (EG BUY,EG BUY,EG BUY) For buy entry same is for sell Entry
- Follow only new EG, created recently, CMP (current market price)
-Price moves from EG to EG, zone to zone.
BTC bottom in ?? Nah!In this chart I have illustrated a possible scenario which can play out (at least that's what i think).
There is still a lot of sell off left .
1. Volume decreasing on daily
2. Price is below the weekly MA for the 5th week in a row
3. Unstable macro economic conditions
For all those who are saying the pi-cyle bottom flashed. I have only 1 question:
Did bitcoin ever trade in a macro bear market ? Cause all the times pi model printed a bottom it was in a macro bull market (Just like bitcoin broke the previous ATH to the down side . this was something which never happened before)
2020.06.09 BTC Tuesday! Bloody or Eufory?BTC Tuesday!
Bloody or Eufory?
Still an exciting moment for BTC, the Bulls are not able to independently rise further, the last push is needed from a Whale it seems!
Yet BTC relies on a strong R / S level! if it continues there, the lower zones are quickly within reach!
Be safe, with Alts is the advice
