🐝 BTC UPDATE
We have two resistances above us that need to be tested: $26,600 and $27,300
Both of these levels can act as reversal points that will push Bitcoin downwards.
So, the plan is quite simple:
firstly go upwards, then downwards with possible breakdown of $25,000.
https://x.com/robert_klondike/status/1700065103884771633?s=46&t=fOJ6auVDETiVp3qLNTsBKg
❗️#AZERO is ready to break through the Falling Wedge!
The zone between $0.7 - $0.8 is great for buying!
🐝 BTC BRIEF UPDATE
There is a bunch of liquidity located below the $25,000 support level. Chances of visiting the area below are quite high. I would say 75%.
After that we may see a rollback above the level. However, if it doesn't happen... we should really forget about green "BUY" button for quite some time...
🦋 ETH UPDATE
Ethereum has finally broke out of the horizontal range and now taking hold above the $1690 support level.
This is locally bullish.
Buying some Ether near support makes sense, but only with the tight stop loss right below the level. Targets are on the chart.
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✍️ #TENET chart is on fire by the way! There is a strong double bottom patterns formed on the $0.14 support from where the price pumped several times before.
Moreover, the team doesn't sleep as well. They've recently announced a launch of its native bridge on mainnet that enables the frictionless bridging of LSDs to Tenet network from SIX OTHER CHAINS within the LZero network.Expect to see a growth from current point!
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🔥 Bitcoin is currently testing EMA200 on the 1D chart.
It is quite important to take hold above it to continue the ride!
🤝 And here comes the pump on Bitcoin we were talking about, you are welcome!
The move happened thanks to the news that Grayscale won lawsuit against SEC.
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❗️ Buying #MC at the $0.28 support level!
Expect one to break through the Bullish Pennant soon!
💙 Bitcoin is back into the Blue Zone!
During major bull runs, miner revenue begins a huge ramp up while prices surge.
These times in the red can only come after cool down and accumulation in blue low pressure.
After sending a huge false spike in 2-year miner revenue fees due to ordinals, Bitcoin has returned to its low fee pressure accumulation mode.
This was the same thing that happened in 2019, after a big parabolic run up to the mid-top of $14,000 with a smaller red spike in revenue.
🧐 It seems that #SOL is absolutely ready to repeat a 2nd growth cycle by #ETH!
As they made it completely same for the 1st one! We may expect an easy X20 from current points for sure!
📍BTC DOMINANCE UPDATE
The chart is simple as that. No point in rushing into altcoins as long as we don't see any rejection from marked resistances.
By "rushing" I mean putting more than 30% of your deposit into them. Some small trades with good setups are still okey.
📉 What do we see now is a proper REJECTION from 1D MA200 & EMA200. The MA100 wasn't even reached.
Quite a bearish sign. At the moment zone of high interest is located in the $23,200 - $23,700 zone.
🐝 BTC UPDATE
Well, unfortunately Bitcoin wasn’t able to reach the $28,500 - $28,700 resistance and didn’t let us took some profits.
Still, it came back to the point where pump started, so we are back to the previous analysis.
👉 Key support: $24,500 - $25,000. If we break this level down, we forget about any purchases and only consider going SHORT.
But as for now, unfortunately, sideways a.k.a — flat. Again.
🐝 BTC UPDATE
So, let's back to the initial update that we made right after the massive dump. Everything remains relevant.
There is a strong resistance located at the $28,730 level. It correlates with the ascending RED trend line.
We will take profits on Bitcoin in the $28,500 - $29,000 area. Talking about big spot purchases is too early, as long as the price remains below the trend line.
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✍️ By the way, the price GAP above the current price on Bitcoin CME Futures chart is still valid. That's another reason why we expect to see some growth at first.
Читать полностью…🐝 BTC UPDATE
Despite the overall bearish market mood, I tend to believe it is time for at least a small growth upwards.
The price found a solid support at the $25,870 level. We may see a fake breakdown to $25,500 - $25,600 zone, but from there we expect to see a growth.
The setup will be invalidated in case of $25,300 breakdown.
🏔 Where is the PEAK of Bitcoin's price during the 2024 - 2025 Bullish Cycle?
Take a look at the History of the Bitcoin Price Chart and you will see a cyclicality. Not a secret for anyone. But the point I want to talk about in this post is a Attenuation Dynamics.
The growth curve is more sloping with every new bullish cycle. Back in 2013 year it had an almost 70° angle, while during the recent 2021 bull-run it had only 50° angle.
With every new cycle Bitcoin makes less and less % of growth. But what about the next season? Where will be the peak point?
Taking into account the dynamic, we may expect the next bullrun curve to has a 40° angle that will lead us to a new $140,000 ATH in 2025. But hardly higher. The further correction that appears in 2026 will dump the price to around $28,000 level.
🐝 BTC GLOBAL THOUGHTS
There is a big Falling Wedge that was started forming at the beginning of 2021 year.
We must breakout through one in terms of approaching Halving event.
However! We don’t expect it to happen any time soon. More likely we will see a consolidation in the $22,000 - $28,000 range for a couple of months.
Great volatility will come in November - December.
🤔 What positive factors can we find?
— Altcoin Season. While Bitcoin will keep consolidating, the money will possible move from it to smaller assets which will start a long-awaited season of altcoins.