$BTC MAX PAIN
I have been preparing my community for weeks now about these 2 levels.
Longs liquidated at $67K
Shorts liquidated at $62K
MM might grab $62K first before pumping it back up. But if the FOMC is hawkish future tone with a hike then we might even sweep $57K
The summer uptrend is over.
$BTC is showing similar price action to the April-May uptrend:
- Lost key support (red box)
- Broke H4 EMA 50-200 uptrend
- Formed lower high.
We will revisit sub $60k in the coming weeks.
$BTC 1D
Still looking really good here.
The low volume on the way down forming our right shoulder is giving me confidence that this plays out.
It’s been a boring 2 months so this set up will finally give us long needed price movement.
$ETH vs. the Russell 2000:
I expect ETH to keep outperforming into the end of August, followed by a period of consolidation.
That could set up an iHS breakout heading into the end of Q4.
1 month ago at the $60k range low, the timeline was calling for $45k. That was the exact bottom.
Now at range high, the euphoria is back.
$BTC will top around $70k and bleed slowly to $60k before September.
The key area right now is that red box. CT will soon be calling it ‘altseason’ (just ignore their rubbish)
As long as $ETH stays above this level, the bullish outlook remains valid and the chances of the uptrend continuing increase.
If, on the other hand, we break below it decisively, there is a risk of quickly returning to a phase of weakness and seeing the market go rekt again.
For now, there’s no need to overcomplicate things: that level is all that matters.
$BTC
The game plan hasn't changed since February's range was established.
Sell the upper extremes. Buy the lower extremes has been the clear plan for me as mentioned on here and various streams earlier this year.
Until the market finds acceptance outside of that range, I'll continue trading it accordingly.
Additional charts - overall would like to see a mean reversion trade back into the weekly bands for longing into then reversing for another sell rotation.
$BTC levels that I pointed out to you yesterday... we will either bounce back from these levels or we will hit the low down. Recovery from Monday's low would be a good sign for a continuation, at least for a small market recovery, otherwise we will remain weak.
$BTC 1W
In accordance to where we are in locating the bottom of this bear market, we are here relative to 2022.
Still some more downside to go but you shouldn’t be getting greedy.
At 52k I begin my DCA. That’s been my plan all along.
#BTC still trading inside a clear descending channel.
• Multiple break of structure to the downside
• Currently, inside wave 4
• Channel resistance still holding
Unless we break this structure, lower targets remain open.
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$BTC
I seriously cannot believe people aren’t buying as much Bitcoin as possible at $67,000.
How much lower do you think it can go? Fair value vs gold is already over $180,000 — we’ve never been so undervalued compared to precious metals.
Saylor knows it more than anyone. Patience.
#Bitcoin LONG TERM UPDATE:
$BTC has been historically predictable.
2022 bear market ended the same way the 2019 and 2015 bear markets did.
If we see a close below $74,800 and #BTC stays historically predictable this would be the KEY long term accumulation levels to monitor.