Breaking: MicroStrategy’s Michael Saylor Might Be Selling Bitcoins At Your Back
https://bit.ly/3vKBt7c

https://www.tradingview.com/x/JqQrvKnN/

#BTC Major Update

Take a good breath, free your mind so you can focus on this analysis.

Using fib levels on this chart to see where previous bottoms formed.
To do that we use fib levels taking the lowest point with the highest one of a BTC cycle.

We had 4 cycles on Bitcoin

1. ( 2011-2013 ) Low 2.2$ High 263$
https://www.tradingview.com/x/ztQ1VFyt/

2. ( 2013 - 2015 ) Low 63$ High 1189$
https://www.tradingview.com/x/4JFS4sPB/

3. ( 2015 - 2018 ) Low 151$ High 20000$
https://www.tradingview.com/x/4g6hnvq3/

4. ( 2018 - 2022 ) Low 3183$ High 70000$
https://www.tradingview.com/x/q6v1lC7e/

The most important thing we can get from this analysis is that BTC always bottoms around the 0.786 area of fibonacci, it's not surgical as macro environment isn't the same but it's quite precise in terms of showing where the bottom could be.

#BTC Update

Yesterday we talked about a possible dip on DXY with BTC and SPX pumping ! Then came the bad news about Kraken and US govt looking to ban staking, unfortunately no one can predict this type of news, and their impact on the market.

Let's get back to our charts and see what we got :

https://www.tradingview.com/x/bdeifyMI/ ( BTC )

Bitcoin went straight to the 4H 200EMA, closing almost fully the gap we made on 20th January when we pumped from 21 to 23K.

https://www.tradingview.com/x/cTcx5NzD/ ( SPX )

S&P500 lost it's 4H trend, and currently retesting it as resistance.
Reclaim back the trend and it's positive. A hard drop below the hourly 200EMA around 4025 would mean further downside and next stop gonna be around 3955.

https://www.tradingview.com/x/GNyyJoZa/ ( DXY )

Still below 104 which is the local top for DXY in my opinion before we see lower prices ( below 100 )

Conclusion :

If SPX bottoms out than it's very likely that BTC also reached it's local bottom.
But if SPX goes down below these levels to 4025, BTC will also go lower to 21-20K.


Will update when/if needed.

#BTC Update :

Two scenarios I'm watching on Bitcoin :

1st Scenario

https://www.tradingview.com/x/qXjGhLur/

Dip from here to 23000, consolidate and head to 25K+

2nd Scenario

https://www.tradingview.com/x/9VuVXwM0/

Chop on this area before heading back to 25K+

https://www.tradingview.com/x/CyAVj8ld/

One of the easiest analysis ever...

Thanks to Bitcoin for making it simple

Invalidation below 21' yearly open ( 28900$ )
https://www.tradingview.com/x/ONiSgHjR/

Target at Value Area High ( 34600$ - 35600$ )
https://www.tradingview.com/x/pJ9IcEl8/

Bitcoin Drops Below $36,500 As Investors Await October CPI Data https://coingape.com/bitcoin-drops-below-36500-as-investors-await-october-cpi-data/?utm_source=Telegram&utm_medium=Adam

Mid term view :

I still think Bitcoin will go to 46-47K, but this will not come straight.

There will be big volatility and both directions will be shaken out.

After we go to our target I expect a downside move to 36-38K.

After the correction we will start to think about 60K.

https://www.tradingview.com/x/nxifpYcM/

After reaching our 46k target and going even above it to 48-49k depending on the exchanges.

We can confirm that our local top has been reached, especially with price loosing it's key daily trend ( 13-21EMA )

What will happen next ?

#BTC

- Expecting high volatility, a lot of fear in the markets and doomsday calls.
- Bitcoin will probably make a lot of flip flops pushing traders to liquidation and big losses.
- The possible path I see will be pump again to 46k before going down to 38k which could be extended to 36K.
- After the correction is done we will recover very fast to higher levels, break 46k and aim for 60k.

#ETH / #ALTS

- Didn't catched up with BTC for most of them, so I still expect them to rally.
- ETH will probably hit the 3000$ mark and ALTS performing well in general.

How it could play out ?

Once/if BTC goes to 46K ALTS with ETH will pump hard, and do so even during the flip flops on Bitcoin.
When BTC gonna make the correction ETH will probably go down dragging ALTS lower ( max fear )
After the correction ends BTC should take again some dominance and push to the upside with only a few ALTS following until the next step ( rinse-repeat )

Conclusion :

Avoid high leverage/risky plays! You don't want to get caught in a bad trade or get liquidated before the fireworks starts.

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https://www.tradingview.com/x/XySvlNSE/

New CME Gap Formed On Bitcoin !

The most likely scenario is to fill it during this week.
But there's also a small chance to leave it and go up from here, as during bull runs we usually leave some gaps as a way to manipulate people who are shorting them or trying to bid lower.

https://www.tradingview.com/x/u0v2Fj0B/

#Bitcoin

Still trading inside a range between new ATH zone and low's 60k.

D1 trend lost again ( 13/21EMA ) but since price is just ranging on the big picture we can't confirm that it's a "Market Structure Break" yet!
For a confirmation of the MSB price needs to close below the 58K region.

On bigger tf's ( 3Days / Weekly ) trend is still highly bullish and EMA's are catching up with price which can be seen as a healthy correction.

Conclusion :

Bitcoin needs to hold the range and reclaim back H4 and D1 trends.

https://www.tradingview.com/x/d7rgDuY2/

#Bitcoin Dominance

BTC.D is increasing which is showing that money is rotating from ALTS to BTC again. This is the typical money rotation game on Crypto ( High caps / Mid caps / Low caps )

Expecting dominance to go to the 60% zone next with a possible push above 65%. Bitcoin needs it to push above the 100K zone!

There's also no point to get worried about your ALTS or capitulate as long as BTC holds it's bullish market structure.

https://www.tradingview.com/x/gdoENMKI/

CME Gap Closed On Bitcoin !

Let's see if price manages to stay above it!