Here's a 20 minute TA on Bitcoin as it hits ATH.
I'm an "ATH trader" in that I like to sell at ATH and often it works very well since it is the point of highest liquidity and that is where reversals tend to print.
And I will look to buy in again later.
I still hold some coins / crypto stocks with a higher time frame strategy but in my lower time frame trading portfolio; I have taken profit on everything here and looking to buy dips.
So can Bitcoin get back to the point of highest liquidity - $100.7K ?
That will be where I will consider to buy, but a lot will depend on other factors such as action in stock indexes.
All details in video.
I made 2 Bitcoin videos in short succession here so I may not do another one for a while.
Enjoy
Not advice
I'm an "ATH trader" in that I like to sell at ATH and often it works very well since it is the point of highest liquidity and that is where reversals tend to print.
And I will look to buy in again later.
I still hold some coins / crypto stocks with a higher time frame strategy but in my lower time frame trading portfolio; I have taken profit on everything here and looking to buy dips.
So can Bitcoin get back to the point of highest liquidity - $100.7K ?
That will be where I will consider to buy, but a lot will depend on other factors such as action in stock indexes.
All details in video.
I made 2 Bitcoin videos in short succession here so I may not do another one for a while.
Enjoy
Not advice
Note
BOOST me up if you like this guys - you know the drill.Comments welcome 👍
Note
There's that ATH sell off.Congrats if you also sold at ATH.
GG 👍
Note
Whipsawing higher but the result will likely be the same in the end....
Many coins are printing significant upper wicked; Shooting Star candles.
These most often will punctuate the highs before the next correction wave down - though slightly higher highs are possible and the effect be the same.
...
Notice on FET chart that the big upper wick is printing tidily in the retracement Golden Window.
This is an ideal ratio band for a failure swing into another corrective wave down:.
The Shooting Star signals that this will likely be a failure swing:
I recently took profit on FET in this area.
...
And Bitcoin mining stock; MARA printed a whipsawing Shooting Star within the weak 1:0.618 Golden Window:
The weakness is due to the third wave being shorter than the first - it signals upside impetus waning.
This is likely to be a completed 3 wave correction...
And a wave down is likely to follow.
...
So for now the market has bearish signals while Bitcoin drives FOMO by pushing higher.
Don't forget that non-technical buyers across the world will have been woken up by messaging of ATH from their trading apps today.
They'll be rushing in to buy - believing that they will miss the move if they do not step in.
So if you're buying in this area then you're in "the boat" with them 😅.
...
Worth noting also that stock indexes printed a first bearish engulf today since exactly a month ago near the lows.
Its not a proof of anything but indexes have had an enormous collapse and a record breaking bounce...
Corrections tend to come in 3 waves and we've had 2.
Can you see where I'm going with this 🤔?
...
I'll be looking to buy dips down the road.
But that will perhaps be beyond the scope of this thread.
That said, I have revealed a point of very high liquidity within the video - $100.7K.
It could be a great dip buy - but there will be plenty of other factors to consider in order to make a solid entry and avoid "on a wing and a prayer" trading 👍
Note
Having studied the chart more, I have a new count and it is a bullish one.We saw something similar in the summer leading out of the long corrective phase:
But in this area the volatility is at levels we have never seen before and with such whipsaw it can encourage a bearish stance.
But as much as it holds it will increase my new perspective that this is another 5 wave tier 1 (yellow) that leads to a pull back (blue) and then we get a pump.
This 5 waves is not at all from the perspective of Elliott Wave, but instead it is simply a tier / unit that becomes 1 wave in higher degree.
Altcoins popping here and i've been re-entering positions.
Crypto stocks having a wobble in this area so they come at a discount today.
Can't get em all correct and the bots are becoming ultra exotic.
Evolve or die.
Note
With stock indexes dumping on further tariff news, Bitcoin has slumped and now this idea is back on.Its so interesting the timing of these news events and how they trigger shakeouts.
There are bearish clue in the market.
MSTR chart is one one of them: (Click image to open thread).
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.