Bitcoin 128k Bull flag

On the above 10 day chart a bull flag is identified. In addition RSI has recently confirmed the 52 level as support. This is an important indication on this timeframe, look left.

When does 128k strike? Don’t know. No one does. However it happens before June 2025 or not at all. When it happens, that is the market top. Exit all crypto positions by this time.

Is it possible price action continues downtrend? Sure.
Is it probable? No.

Ww

Trade active

** NVT+HV crosses up 40 **

This is an important signal. Read / learn about here:

woobull.com/nvt-signal-a-new-trading-indicator-to-pick-tops-and-bottoms/

Notice the yellow arrows? They are telling you what happens as the line:

1) Crosses up 40
AND
2) Is in GREEN

The last time this signal printed Bitcoin rallied from $40k to $74k in an 80% move.

Ww

Note

Am sure a few of you watch Steve of CCU on Youtube from time to time. If you’ve been listening recently you will be aware of the importance of a weekly Stochastic RSI crossover. It is a signal that only prints once and at best twice per year. You should never ignore it.

My preference if to use the 8-day chart timeframe for this study.

On the 8 day chart below (blue arrows) stochastic RSI has crossed up 20 from a low of 10 (horizontal black line).

This signal last printed in September 2023. And December 2022 before that. It is rare as it is important for the market in the weeks and months ahead.

8 day

Trade active

Below is an 8 day chart. Some observations:

1) Tomorrow (Saturday 27th) a new 8 day candle shall print. This print will confirm the Stochastic RSI cross up. Black circle.

2) This cross-up will also confirm the Hidden Bullish Divergence. More powerful than regular bullish divergence occurring when price action prints a higher low with a lower low in the oscillators.

Trade active

It is amazing just just how many opportunities leveraged long liquidations, short sellers will provide the market.
Most folks are aware of the weekly Hash Ribbon buy alert, few are aware of the 2 week signal. Far more powerful as signals go with a 100% proven track record.

It just printed. Look left.

2 week

Note

This idea is void for the short term if price action fails to recover 60k be close of today.
Ideally needed to close above 65k for the month of August.
It will be the first time the NVT+HV index has printed a false signal.

Trade closed: stop reached

** broken market structure **

cough splutter sniff
Per last comment, price action really needed to close above 65k, was no where close.

A test of the 50% level or golden ratio seems likely, between 34k and 42k.

Some things you're going to hear I want you to ignore "the bull market is over", it isn't. Over the last 72hrs have studied many a chart, the bull market is not over even if price action crashes to these lows.

However it does means the market top is re-adjusted, Wave 5 is unlikely to be as high.

The next big question is when. I don't know, no one does. Ideally it happens quickly however I'm more of the impression for a protracted correction as before. Look left.

Trade active

Target area is more likely around the $110k area rather than the 128k advertised.

2 weekly candles have now printed outside the flag. If that is not confirmation..

weekly chart

Note

Trade active from 63-64k area.
Trust me ;-)

Remember the target area is now revised to the 110k area.

Note

Remember the last update?

Trade active from 69.5k area.
Trust me ;-)

Note

These last two updates are legendary.

What next?

Most of the public messages allude to one direction, they're all trying to "short" the market.
That is a mistake.

Look left. The last time the flag pattern confirmed (and the new one has), up to 2 months of upside followed. There is a high probability this will repeat. Know the risks.

Note

Already the Youtube is awash with market tops.. Euphoria is on the way.
Plan B, $500k
Will update elsewhere where the market top is at.

Note

102k, the first possible resistance but not the market top.

Note

Don't forget the last update, price action is euphoric at the moment.

without_worries

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR

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without_worries

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR

Also on: