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 is up by 1.8% since the low set at 63,400 dollars. That doesn't sound like a lot - and that's because it isn't.
Nothing has changed. Bitcoin is still trading in a strong downtrend. A first step to break that downtrend would be a move up to 65,500 dollars but even then I'll be cautious.
https://www.tradingview.com/x/UJDScy5n/
- @Forflies
Arbitrum has been trading around the 0.90 dollar level for a few days now. It's an interesting range for a potential long, but the fact that ARB hasn't seen a bounce off this macro support level is really not a good sign.
https://www.tradingview.com/x/9C4mfirA/
- @Forflies
Big dump with BTC about to close its lowest 4h candle in 22 days.
The 71,500 dollar level keeps rejecting Bitcoin over and over, which has turned into a real problem. With around 10 rejections already, the 71,500 dollar level is incredibly strong resistance by now.
https://www.tradingview.com/x/eG57FxpW/
- @Forflies
I'm live on YouTube in 10 minutes to cover this price action with my analysis + your questions.
https://youtube.com/live/D0dZUb9F9VM?feature=share
- @Forflies
I'm live on YouTube in 10 minutes to cover this price action with my analysis + your questions.
https://youtube.com/live/f5tkT9SzFmI?feature=share
- @Forflies
A day later, Bitcoin is still taking sideways - after almost dropping out of that triangle.
BTC is still not looking that good. This triangle is still valid, but barely.
https://www.tradingview.com/x/fJmCurn1/
- @Forflies
As expected, BTC is trading sideways so far - and there's not much going on. This channel it's been trading in since yesterday is barely 0.70% wide, showing the complete lack of market interest today.
https://www.tradingview.com/x/8JyxRBaX/
- @Forflies
What Bitcoin is currently doing might not seem like much - but it's important. It's up by just 1.5% over the past 90 minutes, but it's an important 1.5% as this is what is pushing BTC out of this triangle right now. A triangle that looked a lot like a bear flag. However, with this move up, this bear flag is pretty much invalidated.
This move up is also an important step towards the 71,500 dollar level, which has been a big problem for Bitcoin for several weeks now. If BTC overcomes the 71,500 dollar mark, we might get a new ATH soon after.
https://www.tradingview.com/x/tZJD0Kus/
- @Forflies
Live in less than 5 minutes on YouTube to cover this huge price action + your questions
https://youtube.com/live/kwNKX7xk2t8?feature=share
- @Forflies
Very good follow-through here: Bitcoin is now trading at 65,000 dollars after breaking out of this bull flag.
As I mentioned before, while that is certainly good for the bulls, as long as BTC is trading below 68,000 dollars, it just doesn't really matter all that much. The 68,000 dollar area is strong resistance and overcoming it won't be easy.
Regardless: This is a strong move up. If BTC can keep this momentum going, it might even break the 68,000 dollar level.
https://www.tradingview.com/x/HfMEKaWQ/
- @Forflies
Bitcoin saw a decent 3% move to the downside yesterday and is currently back at the 62,000 dollar level.
It's pretty important here that the 62,000 dollar support doesn't fail. An S/R flip here would be really good, but losing this support could open up the possibility of more downside - a lot more downside. Bitcoin now needs to reclaim the 65,000 dollar level, and not lose the key 62,000 dollar level again.
https://www.tradingview.com/x/haHU1rAh/
- @Forflies
Bitcoin established some very weak support at 57,000 dollars, but it looks like that level is about to fail as well.
This dump feels like a strong overreaction, especially if the "Russia ban" FUD is supposed to have caused this.
And it might not be over yet; A quick wick down below the 52,000 dollar support wouldn't surprise me today or tomorrow, and a drop below the 42,000 dollar level later this week is entirely possible.
https://www.tradingview.com/x/Fn6aPzZg/
- @Forflies
It looks like we got a tiny pump last night as BTC made its way up to the 64,000 dollar level, where it could now find resistance. Overcoming this level would be a first good sign for the bulls. A very small one, but still a good sign.
https://www.tradingview.com/x/OkbS2b5u/
- @Forflies
The market is continuing to dump and right now, it either needs to stop right here, or we could face another massive dump.
This is because Bitcoin has now reached a key support level at 64,000 dollars.
Today, BTC is down by 2.6%. Altcoins are down by 8-14%.
Now imagine what happens if Bitcoin loses this key support level.
Very dangerous market.
https://www.tradingview.com/x/Oeqv6AMn/
- @Forflies
I'm live on YouTube in 10 minutes to cover this price action with my analysis + your questions.
https://youtube.com/live/1bmkeHZZU7c?feature=share
- @Forflies
I'm live on YouTube in 10 minutes to cover this price action with my analysis + your questions.
https://youtube.com/live/bRyqpIeuyvc?feature=share
- @Forflies
I'm live on YouTube in less than 3 minutes to cover this price action with my analysis + your questions.
https://youtube.com/live/D0dZUb9F9VM?feature=share
- @Forflies
This is looking good.
After dropping back below the 70,000 dollar mark yesterday, it now took Bitcoin only 24 hours to get back above that mark.
BTC is still below the 71,500 dollar level, but simply reclaiming the 70,000 dollar mark after only a day is a pretty good sign, and holding on above that mark for 14 hours now is an even better sign.
Just a bit higher, and the macro bull market could resume.
https://www.tradingview.com/x/8SAguSs5/
- @Forflies
Bitcoin once again touched the 70,000 dollar mark - and was rejected once again. The last time this happened (almost 7 days ago), BTC ended up dropping all the way back down to the 67,000 dollar mark.
This time might be different, as BTC is already making a move back up.
Unfortunately, this is ultimately just more trading between 64,000 - 71,500 dollars. This range is just not interesting and very hard to trade - outside of this range is where it's getting interesting.
https://www.tradingview.com/x/x4tQ7p1U/
- @Forflies
Bitcoin isn't looking super strong, that much is clear.
On the upside, BTC is trading inside a massive bull flag on the 4h. This bull flag has a breakout target at 75,500 dollars. This is good, but it doesn't really help that much if BTC ends up dropping out of this bull flag. BTC has been spending much more time at the lower trend line than the upper trend line - it's 2 retests against 5 retests.
This means: I'm carefully optimistic here but that could change quickly.
https://www.tradingview.com/x/PUaFD5Nc/
- @Forflies
ARB is still struggling at the 1.15-1.20 dollar range - and I think that's a good thing.
Why? Simple: If this range is strong resistance (which it appears to be), it is more likely to act as strong support in the future. This means that I'll feel much more confident longing ARB at this level in the future.
I'm keeping a close eye on this one. VIPs already know how I intend to play this.
https://www.tradingview.com/x/fz7CCmta/
If I decide to play this, I'll do it over on Bybit.
They're currently running a campaign for new users: Complete tasks, spin the wheel and win up to $100,000 - and every spin is a guaranteed win.
- @Forflies
Bitcoin is currently trading right at its highest ever weekly close set in the last week of March - and if I say right at that level, I really do mean it as BTC is just a few dollars off.
Bitcoin saw an amazing day yesterday and if this strength persists, then we might see a new highest weekly close ever this week.
It seems like the bulls are back - although we still didn't break the March high.
https://www.tradingview.com/x/lninZAz9/
- @Forflies
Bitcoin is currently testing the 66,700 dollar area. If BTC doesn't find support here, it might very well drop towards the 65,000 dollar level. In the best-case scenario, BTC already establishes new support up here.
https://www.tradingview.com/x/Dsutbw4A/
- @Forflies
I'm live in 5 minutes to discuss this price action + your questions!
Live on the link below.
https://youtube.com/live/J2JhTaEx7FI?feature=share
- @Forflies
Meanwhile, Ethereum is printing the exact same kind of bear flag on the hourly, ready to potentially break down tomorrow.
https://www.tradingview.com/x/Bixdztjj/
If I trade this, I'll do it over on Bybit, which is currently offering a free 500 USDT position.
- @Forflies
Bitcoin saw a remarkable recovery yesterday. It pumped a massive 6.5% and even broke the 62,000 dollar level again.
More importantly, it has even managed to stay above 62,000 dollars. Today is Saturday, so we might not even get a lot of volatility before Monday - which would be good as it would allow BTC to further consolidate above 62,000 dollars.
https://www.tradingview.com/x/aB4hmWhD/
- @Forflies
We're now seeing a small bounce, but make no mistake, this is not a good sign at all. At best, this is a neutral sign in a bearish situation.
Bitcoin needs a clean, strong bounce off the 62,000 dollar level. What we're seeing now might be 4 consecutive green hourly candles, but it is not a strong bounce. BTC is now only 1% above the 62,000 dollar level.
https://www.tradingview.com/x/Ck2C1c9T/
- @Forflies
Bitcoin is still consolidating below the 65,000 dollar level, but it's doing that in the shape of a descending channel. This indicates that BTC might be building up some bullish pressure here.
That's certainly interesting, but a problem here is the incoming weekend. Volatility might decrease once again, which could result in a weaker move, if we get a breakout on the weekend.
https://www.tradingview.com/x/J9mSBOIB/
- @Forflies