18356
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)
Bitcoin just closed its highest hourly candle in history.
This time, it doesn't look like it's going back down - at least we're not getting an instant rejection.
This is exactly what I've been expecting.
https://www.tradingview.com/x/Ic6koKPo/
- @Forflies
And yet another big drop right after setting a new ATH. Down 4.8% within just 33 minutes. BTC's daily candle is now at a mere +0.20%.
https://www.tradingview.com/x/jq72lxwe/
-@Forflies
I'm seeing lots of pressure to the upside on Bitcoin. It established some resistance at the 68,000 dollar level, but if that fails, the next ATH could follow right after.
https://www.tradingview.com/x/KQUvdxsZ/
- @Forflies
Bitcoin just hit 70,000 dollars - at least on the futures market on Binance.
Spot market price is still at 68,500 dollars - but that might be about to change as well.
https://www.tradingview.com/x/BO7nYj8E/
- @Forflies
Bitcoin going parabolic again. Another big leg up.
Meanwhile, BTC futures are being traded at an insane 1,800 dollar premium on Binance.
https://www.tradingview.com/x/r5LIYX94/
- @Forflies
Live on YouTube in 30 minutes to discuss my analysis of this market + your questions
https://youtube.com/live/RlHqDN8_bVM?feature=share
- @Forflies
Absolutely insane market moves right now. After it hit 64,000 dollars, BTC started dropping like a rock and lost 5,600 dollars within 16 minutes - and 3,000 dollars (or 5%) within less than ONE minute.
Now, BTC is trading at 61,500 dollars.
In light of this extreme volatility, I'm actively choosing not to enter a leveraged position here. -5% within less than one minute is volatility that we haven't seen in months. This is so much volatility that a SL might not even trigger.
Horrible conditions for leveraged positions, but an extremely interesting time in the market.
And the best thing is that once volatility cools down a bit, I'm expecting a lot of new trading opportunities across the entire market.
https://www.tradingview.com/x/E1Q2DcPc/
- @Forflies
I've sold some BTC spot here @ 59,000.
There's absolutely no way I can see such a high price so quickly and not take profits.
- @Forflies
The Monday open didn't bring a lot of volatility to Bitcoin, at least not yet.
What did happen however, is that BTC topped out at the top of this red Ichimoku cloud on the hourly three times. This means that it tried to overcome that Ichimoku resistance three times, and failed each time.
https://www.tradingview.com/x/0rjf6VBH/
- @Forflies
The SPX ended up closing yesterday's candle at an insane +2.11%, sending it to yet another ATH.
With that, the SPX is up by 24% since October, 118 days ago.
On average, the SPX makes around 8% per year, so this is +/- the return of 3 years within just a third of a year. In my opinion, this is very unsustainable and a big correction almost has to come sooner or later.
https://www.tradingview.com/x/hcdmbV2c/
- @Forflies
Bitcoin just got rejected by the 52,500 dollar level for the 8th time. This is a pretty narrow resistance, so it's quite interesting to see BTC struggle so much here. In my opinion, BTC could overcome this level very soon.
https://www.tradingview.com/x/Aq2ERwG8/
- @Forflies
The DXY is seemingly about to overcome this long-term downtrend. The last time a one-year downtrend was broken, the DXY pumped for 1.5 years. Breaking a 1.5y downtrend now could result in an even bigger pump - and that could be pretty bad for the crypto market.
I don't expect a macro DXY pump to be enough to cause a BTC crash, but it's still something to keep an eye on.
https://www.tradingview.com/x/I0nD2zUD/
- @Forflies
While altcoins are moving, BTC is basically trading sideways at 52,000 dollars - and the weekend is nearing, which means that this might not change a lot until Monday.
I'm looking forward to a potential correction, which could open up a nice possibility for longing an S/R flip around the 50,170 dollar level.
https://www.tradingview.com/x/uXIFpYPX/
- @Forflies
Viewer raised a very good point about long/short ratio being the only key indicator I use which does not (for now and only recently), align with my analysis.
My response is very important for everyone to keep in mind.
Failure to keep this in mind will be at your own peril.
- @Forflies
Bitcoin overcame the 2021 ATH 3 times now, and each time it was pushed back down. However, every dump is smaller than the previous one (15%, then 6%, then 2%), which is really bullish.
Today is Saturday, so we might get less volatility until Monday. This would be amazing for altcoins, having BTC trade sideways right below its ATH. This is why I'm looking for aggressive long entries on alts, although I want to give the market time to develop a bit first.
https://www.tradingview.com/x/NAjUMMHY/
- @Forflies
For the first time EVER, Bitcoin hit the 70,000 dollar mark on the spot market.
Absolutely massive.
https://www.tradingview.com/x/OfvErHpw/
-@Forflies
Fuck it i'm live again
https://youtube.com/live/ILPqDyC96dg?feature=share
- @Forflies
New Bitcoin all time high! Live in 15 minutes to cover my analysis + your questions.
https://youtube.com/live/VIJI57z-yA0
- @Forflies
I'm live
Live to discuss Bitcoin at ALL TIME HIGHS + your questions
https://youtube.com/live/yaNb8EYh0gw?feature=share
- @Forflies
I'm live
https://youtube.com/live/RlHqDN8_bVM?feature=share
Very important note about my Bitcoin TA.
A note which seperates the sheep mentality of getting carried away with hype...
From the wolf mentality of staying calm & calling your shots properly with discipline.
Trading principles that the greats have exercised for decades exist for a reason. If you care about your long term wealth, you can't arrive anywhere else other than these principled approaches to position management.
P.S.
My VN got cut off. Closing note is that you all owe it to yourselves to make yourself independent from the hype. We are not here to chase thrills from the market like a bunch of degenerate gamblers. We are simply here to make money. Have fun in the real world. But don't come here to crypto looking for fun & hype. It has always been a recipe for disaster. The best traders are always detached.
- @Forflies
I'm live
https://youtube.com/live/SiD6EG-0bUo?feature=share
- @Forflies
Most altcoins are looking really good right now - but GRT is looking strangely weak here. It's currently trading inside a rising wedge on the 4h, with lots of downside potential. If this plays out, GRT could drop around 20%.
However, it also needs to be recognised that GRT's 4h EMAR is still strongly supporting the coin, and the green Ichimoku cloud on the same time frame hasn't even been tested yet.
This is a very interesting contrast: On one hand, GRT is clearly printing a bearish pattern. On the other hand, indicators and market conditions are looking really good for GRT.
https://www.tradingview.com/x/7YWtRZHn/
- @Forflies
BTC is back above its 4h EMAR. That's a good sign, but it's not enough yet: BTC also needs to expand this EMAR for it to turn into strong support again.
However, there's still a decent chance that we'll see a correction. This could start tomorrow I'm not expecting a lot of volatility today as it's Sunday.
https://www.tradingview.com/x/JYpvUCwC/
- @Forflies
Very strong open on the SPX: Immediately upon opening, it pumped around 1.5% and is up by another 0.3% since. This is a very strong sign - and it's quite worrying that BTC isn't reacting to this at all. BTC saw only a small move up after the SPX pumped, which implies some weakness on BTC.
https://www.tradingview.com/x/cuFttEBl/
- @Forflies
The 4h chart shows pretty well what's going on at the moment: While BTC is still trading at a very high level, it's unable to overcome the 52,500 dollar resistance. BTC's EMAR on the 4h is slowly flattening, showing that BTC is simply running out of steam in the short-term. The 4h ichimoku cloud however is still expanding. This is because that's a slower indicator, meaning it reflects change in price later than for example the EMAR as a whole.
https://www.tradingview.com/x/N7bRSrZj/
- @Forflies
There's that pop I was describing in today's video
- @Forflies
After its strong pump yesterday (+0.70%), the DXY is consolidating today - not dropping back down. This is yet another sign of strength. The DXY has now been going up for the past 50 days, meaning all of 2024 and a bit more. During that time, it gained an impressive 4%, and by the looks of it, it could even continue pumping.
https://www.tradingview.com/x/kpkuuawQ/
- @Forflies