$BTC 3D chart
We’re approaching a strong Support Zone - $62,500-67,800 (1.618 Fib + POC on VRVP + A=C)
Once we dip into that zone I’ll be looking for a strong bounce 📈
IMO $Alts will show strength during that bounce
One last hurrah, and it’s all yours! 🥳(Today is last day to participate) 😎
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My top prediction is $125,000 - $130,000 on #Bitcoin
From the $59,500 entry. I would be super happy with a 100% return on a spot position
No need to get greedy in this space. This will only ensure you lose money
$BTC Massive Bearish Divergence on the Daily timeframe Chart..!!
Expecting 8-10% Correction which would be a Healthy Reset, then continue to Rally.. 📈
Don't miss the Buying Opportunity..✍️
#Crypto#Bitcoin#BTC#BTCUSDT
#Bitcoin might have one last rally to $106K-$110K max, but after that? Major capitulation.
📉 MACD is bearish
📉 RSI is bearish
The charts don’t lie. Prepare now or stay in denial. The choice is yours.
$BTC
On low timeframes, $BTC looks primed for a move up to local highs (as long as 87.7k is not breached).
The type of move we get to the local highs will be pivotal in determining my bias for the coming weeks/months.
Most don't seem to be aware but the term "impulse" is an EW term- and there are certain criteria that must be met to call a move "impulsive". On CT however, the word "impulse" has become synonymous with any "big move up" which is simply not the case.
With this in mind- I've shared here the two scenarios to watch right now.
The first, depicts a clear, 5 wave impulse- or series of higher lows and higher highs of the same degree which signals a trending move.
The second, depicts a 3 wave corrective move (failed impulse) which lacks the consecutive higher highs and higher lows of a characteristic impulse.
If we take our highs at 93.8k in a clear, impulsive move that breaks 100k+ then 72k and below is likely gone until the next bear market.
If we instead sweep our highs and fail to produce a final, 5th subwave then it implies this move was indeed corrective and makes the odds of us retesting 70-72k AT LEAST exponentially higher.
I'm positioned accordingly in 3 alt longs already ( $ETH, $CRV, $AAVE, all which were shared live at time at entry over the last few days) in case we get the bullish scenario and if we don't I look forward to 72k (and potentially below) $BTC again.
~ #BTC ~
Folks I‘ve been a little absent of late as I’ve been under the weather, but I’ll leave you with this consideration tonight.
Whilst it’s great to see #BTC back above 63k, on a weekly time frame there are still concerns which need
to be addressed.
#BTC needs to break above 65.1k for a start, but ultimately it needs to close above $70k for us to consider resuming this uptrend.
On that note, have a lovely weekend! 🔥
$BTC Reactions to FED Rate Cuts (2019 & 2020):
Aug 1, 2019: -25bps
$BTC surged 30% overall
Sep 19, 2019: -25bps
$BTC gained 7% before the rate cut, then dropped 25% the following day.
Oct 31, 2019: -25bps
$BTC pumped 30% leading up to the cut, but crashed 35% the next day
Mar 3, 2020: -100bps
$BTC rose 4% pre-cut, then plummeted 45% after.
Mar 16, 2020: -50bps
$BTC increased 15% before the cut and dropped 25% the next day.
Sep 18, 2024: (-25 or -50bps Expected)
$BTC had already pumped 15% prior and is hovering near resistance on the day of the rate cut.
Is it already priced in?
$BTC Sunday update:
Big week ahead - FOMC meeting on Wednesday.
I'm leaning towards the idea of price forming a range here with a few deviations/traps until then.
Let me explain why I think we could see a spike to $61.6k ish before dropping later on the week.
Historically, September hasn't been a strong month for Bitcoin, Bulls must find a way to Survive this month.
- if Bitcoin holds the 54-55k Support, according to Broadening wedge Pattern, it could bounce back to the
$68k Resistance.
- However, if Bulls lose the 55k Support, Bitcoin could drop to $50-51K before Potentially bouncing back sharply.
#Crypto #Bitcoin #BTC
$BTC is still Moving within a Bullish flag Pattern.
It may test the 54k Support Area again, and it's crucial for the Bulls to defend this level.
If Bitcoin bounces back from the 54k Support, it could Rally up to 68k in September.
#Crypto#Bitcoin#BTC