Around 6 months ago, I decided to start posting my daily price targets on X (mainly because I started getting way too accurate to simply keep it to myself), but also as a social experiment to prove 2 things:
- bitcoin is most definitely predictable
- despite getting high quality analysis for free, people still won’t value that priceless information and will follow scammers and influencers instead, chasing the quick wins with projects that all eventually rug.
The markets are doing what the markets have always done. Question is, can we wisen up and be more disciplined in how we approach it?
Conservative and risk mitigated crypto strategists will eventually outperform the herd, just know it.
I’ll always suggest Price action strategies on the large to mid caps despite the constant low hanging fruits bombarded in our face in this turbulent industry, and thus I can only earnestly suggest that you all do the same 🙏
So please, unless you know your way around sniping bots and are deep in the trenches, stop listening to clowns like @MustStopMurad. Stop tracking projects. Instead, track the macros and technicals. Simple⚡️
#CRYPTO #BitcoinReserve #CryptoCommunity #cryptocurrency #CryptoTrading
$BTC - If we consolidate above 83.5k we could retry 90k (86k in the way tho). Also 80.3k should get retested at some point but need to consolidate below the current pivot at 82.7 before i call for that.
All in all I’m more in favor of ranging til monthly close between the following levels (80-83-86). Monthly Max pain range is also exactly that range (80-86) so safe to expect ranging/deleveraging between those levels.
#cryptocurrency
$BTC - If we consolidate above 83.5k we could retry 90k (86k in the way tho). Also 80.3k should get retested at some point but need to consolidate below the current pivot at 82.7 before i call for that.
All in all I’m more in favor of ranging til monthly close between the following levels (80-83-86). Monthly Max pain range is also exactly that range (80-86) so safe to expect ranging/deleveraging between those levels.
#cryptocurrency
Some things to keep in mind leading up to FOMC in a few hours - catch those dips!
Annual VWAP 71.7k, there is a POC on daily charts at 64k but I’m still of the conviction that 71.7k holds, at least on first retest. Then again all rests on FOMC tmrw. Another perspective calling for 72k range - off the 4hr charts, as per harmonics from the most recent 82k high, the target retracement range is 77.8k-72.8k. And Elliot waves suggesting similar. Lots of confluence
@elonmusk@grok - is what this video trying to prove backed by data? What business does Elon have posting stuff like this? Should we expect better from someone of this position?
Same scenario in private credit - redemptions wave. Add to that post earnings repricing/sell the news effect and yeah. Interesting to see the decoupling with equities last couple weeks and then now again recoupling. In a clear three body problem with gold, esp with all near ATH territory. Since nominal prices acting like an “everything rally” (happens when both credit and monetary policy are easing) despite the mounting credit risk, the credit component of that had to snap back to correct. The corrections prior were in response to monetary policy shifts - rate cuts postponement due to inflation, but the mounting credit risk needed to be reflected hence the current drops.
#BTC - Markets getting spooked - IMO the 2 main catalysts are rotation into equities for another leg up (alphabet, upcoming AI IPOs) and sell the news on the CLARITY act: deleveraging amidst weak liquidity prior to the next big moves - aka liquidity falling below leverage.
Macro crosswinds (changing FED chair) plus inflations uncertainties (Hormuz choked, but lets be real all producers will overproduce to make up for production shortfalls, most recent inflation prints are actually positive) hence the shakiness and juking in every direction; honestly just buy every dip so long as were above 58k (2nd standard dev below annual VWAP).
On larger timeframes ppl talking about bottoming after 700-800 days post halving etc, honestly just buy dips spot on alts - simple fear and greed spot DCA strategy on alts will outperform leveraged positions in such conditions - there’s potential 3xs all over the place.
I also view it as part and parcel of the larger bond yields repricing - MSTR’s share price fell below its BTC NAV simply because of leverage risk repricing amidst the dual FED policy and inflation uncertainties.
Stay resilient and light on leverage!
Updated Elliot wave levels given below
#CryptoMarket #bitcoinnewsdaily
@sayinshallah Your assumption that crypto (asset) prices and egg (commodity) prices moving in the same direction at the same time shows your clear lack of understanding
$BTC - So 76k (the level we’re working on rn) is super relevant - pi cycle support line, we’ve been trending down last couple months so that’s the bull/bear pivot.
83k is 1st standard deviation of annual VWAP, so that will be a major level, 92k is the 2nd standard dev. (Midlines are also relevant so 88k ish potentially relevant also). Annual VWAP currently 74k so that’s also a relevant support
#crypto
@martypartymusic@benjamincowen A better indicator to track would be the 111DMA bear market resistance band from pi cycle top indicator rather than Benjamin cowen’s bear market band 💅
$BTC - So 76k (the level we’re working on rn) is super relevant - pi cycle support line, we’ve been trending down last couple months so that’s the bull/bear pivot.
83k is 1st standard deviation of annual VWAP, so that will be a major level, 92k is the 2nd standard dev. (Midlines are also relevant so 88k ish potentially relevant also). Annual VWAP currently 74k so that’s also a relevant support
#crypto
$BTC - perfect price performance at the exact support level indicated (65.7k), and now perfect rally up to Annual VWAP pre FOMC (exact time mentioned to see volume flow)
Now, need to get above 75.6k (annual VWAP) and stay there to signal underlying strength, and consolidating above 78.8k before the end of March will officially call corrective phase to end. anything short of that and we're still not done correcting.
Retest of 70k region probable as next move, bearish below 65k.
update elliot wave count also provided below
#crypto