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BTC Analysis 06.12

What a manipulation yesterday. After breaking through 100K, there was no full retest, the price impulsively fell to 92K, on ​​some exchanges even to 90K.

❗️ The market was shaved as beautifully as possible: first they collected all the necessary liquidity above 100K, collected long positions and dumped it down. Unexpected, but you shouldn't be surprised by this in the current market.

On the CME chart, the price was kept from falling further by the ascending support line, from which we can now see another upward rebound and try to return above 100K.

I'll keep an eye on BTC, but this movement didn't affect altcoins, since their dominance also began to decline sharply.

BTC Analysis 05.12

The squeeze to the 100K mark eventually led to a breakthrough of the psychological mark and growth to 104K.

❗️ The breakout looks confident, since there was a buyer's volume on the upward movement. However, for a full confirmation , I would like to see a retest of 100K from top to bottom.

A successful retest will lead to a continuation of the upward movement. However, altcoins do not like the behavior of BTC, they had to start falling due to the growth of BTC dominance.

⚠️ Therefore, as long as Bitcoin continues to grow rather than move sideways, dominance is unlikely to begin a full-fledged decline, and the growth of altcoins will be slow and not the best.

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BTC Analysis 04.12

Yesterday, amid the fact that South Korea declared martial law, the price of BTC on Korean cryptocurrency exchanges showed a decline to the 60K area, from where it also impulsively returned back above 95K.

❗️ Altcoins were no exception, with coins like XRP also falling sharply on these exchanges. It looks like manipulation to buy back more coins at favorable prices.

⚠️ However, on the CME chart we are moving according to the scenario, the price tested the ascending support line at the intersection with the Ichimoku Cloud, from where it bounced up. Now the priorities of the short-term movement are a return to 100K.

BTC Analysis 03.12

The price is steadily falling back to the upward trend, on the CME chart. Today or tomorrow they should test the 95K mark (for other CEX charts, these are marks around 93K). Then I expect a rebound back towards 100K, if everything is confirmed.

We are observing the movement of BTC within the limits of compression, in a sort of sideways movement, while its dominance is actively decreasing and is already around 55%.

❗️ The combination of sideways BTC price movement + decreasing dominance indicates the beginning of the altseason . And the market shows it, +50% there, +50% growth here in a day. And this is just the beginning.

In fact, Bitcoin is not interesting as a trading option right now. Old-timer altcoins are actively growing, and funds are now leaving BTC for them.

SMILE WE ARE IN BULL RALLY 😁

I continue to monitor the solana as we move within the outlined scenario.

❗️ The price corrected the last fall within wave B and is now moving in wave C, which should complete its formation at least in the $210 area, and at most - around the psychological mark of $200, where the 61.8% Fibonacci level also passes.

Specifically, the SOL chart looks short, short-term. But it is better to work from long positions and consider buying within $210-200. Since after the decline, I expect to see a continuation of medium-term and long-term growth.

#BTC Analysis 02.12

The CME chart shows a completely different picture of BTC movement. The price is clearly moving with a squeeze to 100K, but the new week has opened with a rebound from the psychological mark.

❗️ The nearest target for the decline will be the ascending trend, which acts as support at the intersection with the 4-hour Ichimoku Cloud - this is the 95K level at the moment. From there, BTC can bounce back again and test 100K.

⚠️ In summary: while I am watching the CME chart, it is clearer to me at the moment, without unnecessary support/resistance levels. In the short term, we are moving in a certain range, with a squeeze to 100K. In the medium term, everything will depend on the side of the breakout.

BTC Analysis 01.12

The last month of the year is left and not much time until the annual candle closes! February and November 2024 turned out to be the best months this year, with a close of +43.5% and 37.3% respectively.

❗️ More often than not over the last 11 years, if November closed well, December came out positive. So it is quite possible that we will break above 100K before the end of the year.

At the moment, the BTC price has broken above the local descending resistance line and has come to retest it, which may indicate an upward movement to at least 100K or with the aim of breaking through the psychological mark.

⚠️ It's hard to say which route the market will take, but I want to see a good correction. Maybe it will be after a false entry above 100K, we'll see, confirmations will be needed.

Here is confirmation of yesterday's post, for the first time since launch, demand for Ethereum ETF exceeded demand for BTC ETF⚠️ , we need to see what's going on with the record shorts of hedge funds on CME🤔

New instruments such as ETFs are being added, but the core idea of ​​market development remains the same.