#Bitcoin
We are nearing a crucial inflection point for Bitcoin!
Each cycles follow a specific pattern in terms of timing. This can be made visible with the help of Fibonacci time zones
(1) Bear market rally
(2) Bear market rally
(3) - Bear market bottom
(5) - Pre-breakout (usually before halving)
(8) - New All time and cycle peak
These time zones are derived from the Fibonacci sequence, a mathematical series in which each number is the sum of the two preceding ones (e.g., 0, 1, 1, 2, 3, 5, 8, 13, 21, ...). In the context of trading, Fibonacci time zones are constructed by dividing the vertical price movement (from a significant low to a significant high) into several equal parts based on Fibonacci ratios. These ratios typically include 1, 1.618, 2.618, 4.236, and so on.
Each of these ratios corresponds to a different time zone.
Why do these work? Well, it's a mix of several factors. Self-fulfilling prophecy, Human psychology and investment cycle mechanics play an important role here.
BTC is on track.
#Bitcoin
Why is this breakout scenario so close and realistic, despite the very depressing macroeconomic situation?
"[The investor] ... may be wrong in his estimate of the future; or even if he is right, the current market price may already fully reflect what he is anticipating" - Benjamin Gramham "The intelligent investor"
In financial markets, price movement often go opposite from what everyone expects. Much is already priced in and BTC is currently trading 72% higher than its low in Nov 2022. BTC price is not weak. It is strong DESPITE the macroeconomic situation. And upcoming catalysts (ETF approval, halving) will drive price up.
Our opinion. Feel free to disagree.
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#Altcoins
Altcoins are so overdue, if you ask me.
You can't keep a ball under water forever.🏀
We're currently seeing a perfect backtest after altcoins broke out of a 2.5 year falling wedge.
All you need is patience, nothing more.💯
#Bitcoin - whats next ?
The big Sunday report, all you need to know:
In last weeks Sunday report we spoke about the small long order at the liquidity pool in the region of $25.200 that perfectly got hit and in very good profit for those that took the trade. Just one day later I updated the next short term target at $26.800 that was also hit perfectly in a matter of few hours, so whats next after predicting all right again:
🚩 TA/ LCA/ Psychological Analysis: Currently Iam watching the region of $25.600 for another potencial long trade. I will try to snipe with a scalp long if market allows to dump towards $25.600, realistic to happen during, before or after FOMC volatility, right?
For that Iam placing several long orders in that region. Remember that placing a long position and go long for the very short time frame doesnt mean that Iam turning bullish in the mid - big time frame. You should learn to trade levels, and use these levels as opportunity for profitable trades. Iam not closing my shorts from $31.000 region just because I decide to take a long opportunity that will be closed in a very short time frame, while $31.000 is a mid term trade. Please educate yourself about the difference between Scalp and Swing trades, its something that causes a lot of confusion in the comment section all the time.
The liquidity pool that was mentioned in the last two weeks is getting bigger and bigger. Big enough to become a legit target for market makers. For that, keep in mind that $28.600 is the next possible target for market makers, once we breakout above EMA200 daily that is currently at $26.990. The amount of profits market makers gonna do when hitting $28.600 is the same amount of profit they do when they dump it to $23.5k region. I will add more into shorts if market allows to visit $28.600 regions.
Market is still very bearsih, dont get distracted by those liquidity grabs. If market allows to visit $28.600 Iam going to add more shorts into my 30 - 31k short entry position Still in big short from 31-30k !
Market overall looks even more bearish than it was in the past few weeks. My target which was always $23.500 and up, is now changed. Iam watching for 23 - 20k region for potencial local bottom before 2024 bull market starts. Indeed, one last big dump, connected with fear is needed before next bull market starts.
There will be a seperate Tweet regarding the #FOMC projection and market expectations + own analysis soon.
Summray, we watch two key levels and one main level:
Long scalp at $25.600 region if market allows to visit
Adding more shorts at: $28.600 region if market allows to visit.
Main bearish target of 23 - 20k has not changed, and is even more bearish now.
🗓 Important Events This Week:
Monday: //
Tuesday: //
Wednesday: FOMC 🚨
Thursday: //
Friday: //
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