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The best damn analysis you've ever had the pleasure of seeing. Contact: @Forflies Twitter: https://twitter.com/samiloyal_ (DM on Twitter if you can't reach out on Telegram for whatever reason)
Live in 10 minutes to cover the Bitcoin ETFs & my analysis!
[LIVE] BITCOIN ETF: ANALYSIS + WHAT HAPPENS NEXT!?
https://youtube.com/live/0kf6myQGWFM?feature=share
- @Forflies
Bitcoin is still trading around 47,000 dollars - and the 15min chart is looking interesting.
I don't usually like to chart on such low time frames, but BTC has only spent a few hours trading around the current price level this time, so lower time frames might tell a bit more than the 1h or even the 4h charts.
BTC appears to be trading in a descending channel right now. This could mean a small breakout in either direction - but that's not really what matters here, as a breakout in either direction could likely be too small to be important.
What's much more important, is that BTC appears to be consolidating well. So far, BTC is looking good here, at least in the short-term.
https://www.tradingview.com/x/14ykEKZS/
- @Forflies
I'm also looking at FIL's 5.75 dollar level for a potential short setup. This seems like a simple S/R flip setup, which usually works out pretty well.
What I don't like however, is how strong BTC is looking at the moment. Of course, if BTC pumps, altcoins could very well follow - and then I don't want to be in a short position.
https://www.tradingview.com/x/ES4HNpxu/
- @Forflies
Looks like Bitcoin is consolidating right below the 44,000 dollar resistance. This is a good sign and if BTC keeps consolidating right below resistance, I believe we could see BTC break this range again soon.
However, the weekend just started - and that could mean that we won't see a lot of BTC volatility until Monday.
I'm certainly keeping an eye on this, and I'm also eyeing some altcoins for a trade.
https://www.tradingview.com/x/W6ym5z1R/
- @Forflies
Massive dump right now.
BTC is down 8% over the past 75 minutes.
Better not to touch this right now, until the market cools down a little.
https://www.tradingview.com/x/aKKwKSXI/
- @Forflies
Bitcoin's 4h Ichimoku cloud turned red for the first time since October 2023. It's only a very, very small cloud and at this point it's pretty insignificant, but I'm still keeping an eye on this. A potential drop could easily expand this cloud and turn it into stronger resistance.
https://www.tradingview.com/x/wTPnRpTo/
- @Forflies
Yesterday's drop had an important impact on BTC, which is down by 3%.
That might not sound much, but what this means is:
- BTC is about to fall below the 42,000 dollar level yet again.
- BTC's short-term uptrend failed.
- BTC is closing more candles below the green Ichimoku cloud on the 4h for the first time since late November, around 5 weeks ago.
All in all, this is not a good sign for BTC at all. It's just a 3% drop, but a very dangerous drop nonetheless.
https://www.tradingview.com/x/ifeeycXE/
- @Forflies
Bitcoin is currently trading inside a falling wedge. This wedge might help BTC stabilise, but I don't think it'll have that big of an impact - certainly not enough to enter a trade based on this. A retest of the 40,000 dollar level is certainly still on the cards, despite this seemingly bullish pattern.
https://www.tradingview.com/x/s6YcbcnV/
-@Forflies
We saw a small sell-off last night as BTC saw another rejection at the 44,000 dollar level after trading at that resistance for 4 days.
However, BTC's drop already seems to have slowed considerably, which is a very strong sign. If BTC goes right back up from here, there's a good chance it'll break through the 44,000 dollar level soon.
Merry Christmas to everyone celebrating!
Stay safe and healthy. ❤️
https://www.tradingview.com/x/VfK4lOFU/
- @Forflies
We're expanding the team.
Hit me up if you're interested in paid analysis work.
Must be able to demonstrate competence with regular crypto trading - minimum of 2y skin in the game so far.
Ideal timezones --> USA & Asia/Oceania
You know where to reach me ✌️
- @Forflies
Things that will turn a boy into a man:
- Getting heart broken
- Watching your mum cry real tears
- Going broke
- Being betrayed by a 'close friend'
- Losing your job
Can always bounce back from these kind of Ls and emerge better for it
- @Forflies
BTC is closing in on the 44,000 dollar level. If the 44,000 dollar level is cleared, BTC could see another very strong move up. This situation is looking extremely interesting right now.
https://www.tradingview.com/x/aVuxhmFL/
- @Forflies
The market continues to drop and BTC is now trading right on top of the 42,000 dollar level. It could find support here once again, but the fact that we're already testing this level again, isn't exactly a good sign.
If the 42,000 dollar fails now, BTC could drop right back down to 41,000 dollars - a range that has been tested a few times and didn't fail, at least until now.
However, I don't think the 41,000 dollar level can take yet another retest - it looks like it could fail. And if that happens, BTC could see a sharp drop down to 38,000 dollars.
https://www.tradingview.com/x/2wYO1lcQ/
- @Forflies
Bitcoin broke out of this descending triangle yesterday and is now trading at the 43,000 dollar level again. Bitcoin is looking quite strong here actually. Having cleared this triangle is a very good sign as the theoretical target would've been right at the 38,000 dollar range - a good 8% below the triangle.
https://www.tradingview.com/x/Rdsrt0hK/
- @Forflies
FTM is looking surprisingly good, especially compared to other, weaker altcoins. It briefly touched this EMAR on the daily and bounced right back up. FTM is also printing a decent green daily candle, while most altcoins are printing a red candle.
I'm not really willing to long FTM in this market, but I'm certainly keeping an eye on it.
https://www.tradingview.com/x/Y4fMbtAo/
- @Forflies
Yesterday's volatility was caused by some fake news. The SEC's X account implied an approval of the BTC ETC - but it turned out that it got hacked.
Bitcoin initially pumped upon the "approval" of the ETF - and then dumped once that turned out to be fake.
Regardless, the SEC does have a deadline today to make a decision on the 21shares & Ark Invest BTC ETF. I expect quite a lot of volatility today again.
https://www.coindesk.com/policy/2024/01/09/sec-twitter-compromised-chair-gensler-says-after-account-said-bitcoin-etfs-approved/
- @Forflies
The SPX is seeing a big move up today, and this could be having some impact on the crypto market. In my opinion, SPX could continue pumping in the short-term, which means that it could also fuel another small BTC pump.
I'm still looking at both short and long setups in the market.
https://www.tradingview.com/x/hvHgoChN/
- @Forflies
The DXY saw a pretty decent bounce off the 100 range and I mentioned that it could now be on its way to the 105 level.
However, since bouncing, it seems to have ran out of steam here. Of course it doesn't trade today, but seeing this weakness, it could also be that the DXY goes back down again soon.
A strong DXY might very well be bad for the crypto market, but at the moment, that's secondary - what matters way more now is the impending BTC ETF news.
https://www.tradingview.com/x/ZUW3Xd3C/
- @Forflies
Bitcoin got rejected at the 44,000 dollar level and dropped around 4%. This doesn't sound good, and it isn't.
However, what's really good for the bulls, is the fact that BTC bounced right back up and is again trading at 44,000 dollars. This shows clear upward pressure.
Seeing this, I wouldn't be surprised to see BTC set another local high soon.
https://www.tradingview.com/x/UZOERqwl/
- @Forflies
A few important things happened: Bitcoin closed a strong 4h candle that was enough to close that red Ichimoku cloud again right away. Bitcoin then went on to close several more strong 4h candles, and even overcame its resistance at 44,000 dollars.
Bitcoin is now trading at 45,500 dollars, the highest since it dropped below this level when the bear market started.
This is a lot of strength, but BTC also needs to be able to keep these gains.
https://www.tradingview.com/x/s3CODSAc/
- @Forflies
Another opportunity can be found on ADA: I'm eyeing a potential S/R flip at the 0.62 dollar level.
Lots of opportunities in the market. I currently favour some of the other opportunities I mentioned before over this ADA idea, but I'm still going to keep a close eye on Cardano.
https://www.tradingview.com/x/73Ldg57G/
- @Forflies
Bitcoin is still trading at around 42,500 dollars, and that's much more important than it might seem. This is because BTC is still trading inside an ascending triangle and dropping lower would've invalidated it.
If BTC keeps respecting this triangle, it could see a decent move up soon. I'm not so sure whether it'll actually manage to stay inside this triangle for that much longer, as we've been getting some signs of weakness lately, but if BTC does end up respecting this lower trend line and bounces here, it would be a pretty good sign for the bulls.
I'm certainly going to keep an eye on this.
https://www.tradingview.com/x/fdJ2A1XI/
-@Forflies
FTM saw a very nice, clean move up. At the moment, it's seeing a correction, but overall, this really doesn't seem to be a big correction at all, despite a 4% drop within just one hour. This is because FTM has just seen so much upside over the past few days.
I'll also be looking for long entries on FTM, although I don't see a great entry at the moment.
https://www.tradingview.com/x/qFLrjeZD/
- @Forflies
P.S. keeping a trading journal is a massive plus. I will take you a lot more seriously if you keep one.
Send it over ✌️
- @Forflies
Strangely, Ethereum is saw a decent drop yesterday, while everything else was pumping. This came after a rejection by the 2,250 dollar range - the 4th rejection ETH experienced here.
It looks to me like ETH is lagging behind the market significantly.
https://www.tradingview.com/x/0WkE4WLd/
- @Forflies
'Sami just relax, you're rich enough already'
Motherfucker I'll be hosting parties like this every weekend
Shut up
- @Forflies
The past doesn’t exist.
That girl you once loved? She’s a different person now
That trade you wish you’d made? The money is gone forever
That friendship you once had? Be glad that it happened, it’s done
Only forwards, King
- @Forflies
I’ve spent time with Sheikhs
I’ve spent time with Billionaires
I’ve spent time with athletes, actors, rappers, royalty, tycoons, kingpins and CEOs
And all of them said they wanted more time in nature and with family
If you have those two things
You’re already blessed
- @Forflies
YOU MUST RESIST NORMIE PROGRAMMING:
Blame external circumstances for your failures ❌
Take 100% responsibility for everything in your life ✅
Tell yourself you need another rest day ❌
Exercise constantly, regardless of whether you feel like it ✅
Buy a lambo ❌
Buy a porsche ✅
- @Forflies
Motivation is bullshit
Discipline is everything
Trading taught me this lesson more than anything else
You can't rush the market
You have to be patient, educate yourself over time, and strike at the right opportunity
Anyone can work hard for 5 mins. Can you work hard for 5 years?
- @Forflies