👑#BTC update:

The Wyckoff accumulation is losing its relevance - it's simply taking too long. Fizzled out, went nowhere after the spring. Still, BTC remains right on the weekly support, institutions keep buying, the balances of large wallets keep increasing, the stablecoin supply ratio oscillator (SSR) has bottomed out and been steadily going up since May 23rd, indicating that capital is flowing back from stablecoins into BTC. All the while noobs on Twitter are absolutely convinced that the multi-year bear market is here. It's still the perfect scenario to accumulate, although now it's difficult to tell just how long this will last.

https://studio.glassnode.com/metrics?a=BTC&category=Market%20Indicators&m=indicators.SsrOscillator

👑#BTC update:

Precarious spot. Arguably still on support, but it has to bounce today/tomorrow, or else this can be considered broken - all of the other touches of this level ended up as wicks.

(((Coincidentally))), Elon Musk is speaking at "The ₿ Word" tomorrow, on a panel full of Bitcoin maximalists. Tesla still holds around $1.3B worth of BTC, so the conference logically thinking should be a bullish catalyst, unless Elon has decided to throw all away.

There's not much in terms of support if 29-30k level fails. There's an orderblock at 24k, the next ones around 19.5-20k. Apart from these, price just went up in a straight line, creating no S/R levels.

Lets see what tomorrow brings. Have some cash ready to buy 24/20k if this breaks down.

https://s3.tradingview.com/snapshots/l/LypLSWTM.png

👑#BTC update:

There we go. The conference was a bullish catalyst, just as predicted in the previous post. It could even be the beginning of a longer term reversal.

Bitcoin multi-year bear market starting in spring is unprecedented, it goes against the S2F model and the previous halving cycle history. I still think we're in 2013 scenario: 2-3 months of downtrend in spring before the recovery in summer and new highs in autumn. Cycle tops out in winter.

If you're longing, now you can set the stoploss at $29200. Closest resistance levels: right here - daily tenkan, $35000 - daily kijun + 50EMA confluence, $38500 - 200EMA level.

https://s3.tradingview.com/snapshots/o/ORdfGfPI.png

👑#BTC update:

It went just a couple hundred dollars short of kijun. Close to resistance. If you got longs open, now's the time to take some profits, rebuy later.

https://s3.tradingview.com/snapshots/i/ItW5VqI2.png

If you do take profits here, the closest support would be 4h cloud's top at $32600. Pretty close to the current price, I don't know whether it's worth it. Use your own judgment.

https://s3.tradingview.com/snapshots/r/reCJO4UG.png

👑#BTC update:

Shorts finally squeezed. Perfect cloud's edge touch, consolidating at previously mentioned $38500 level. Long fully closed, back to spot BTC.

https://s3.tradingview.com/snapshots/u/UqqVgMcM.png

30% up since the conference. Seems obvious in hindsight, doesn't it.

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- Chart Kitchen team

👑#BTC update:

Very obvious cloud entry, bullish TK cross. Seemed like it was getting rejected from the edge yesterday, but now it's in the cloud, no question about it.

This is an edge to edge trade setup - once price enters through one edge of the ichimoku cloud, it will most likely reach the opposite edge. Here the upper edge is at around $46800. See you there.
https://s3.tradingview.com/snapshots/6/6DGBlsdN.png

🔥New public call posted on Chart Kitchen.🔥

❗️📣 ETH/BTC 🔔❗️

Almost at the apex of its descending triangle (or a bullflag, depends on how you draw it). The first higher high would be considered the breakout - price crossing 0.0641 BTC. You could set an alert or a stop-buy there. Once that happens, the closest resistance levels would be:

0.08-0.0825 - top of the pattern;
0.1 - major psychological level;
0.115 - measured move, length of the flag pole.

Pattern would be invalidated if the price dropped below 0.057 BTC after the breakout.

But I have to admit, I don't see a point of waiting for the proper breakout here. Almost half of my portfolio is in ETH already. It seems like such an obvious trade. EIP1559 makes Ethereum deflationary, and at the same time significant amount of volume is being forced out from centralized exchanges into decentralized ones. Most of retail doesn't mind the KYC thing much, but american "whales" will have to choose - subject yourself to ridiculous taxes, filing every trade as a taxable event, or move to Defi completely. You don't need a lot of brainpower to see what's going to happen, and ETH will win from this immensely.
https://s3.tradingview.com/snapshots/w/w6FsSlMk.png

The bull market's back! 🌝

To celebrate the trend turning, and to make up for the lack of signals during the downtrend, we're giving out a free 1 month subnoscription to all our members!

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Congrats on having survived the crash. We're all gonna make it. 🤗

YFII update:

💰🔥 TP1 hit! 🔥💰

Call from 2 days ago. 25% up.
Now: https://s3.tradingview.com/snapshots/m/my4m8H0d.png
Entry: https://s3.tradingview.com/snapshots/b/Bl41OtYL.png
Call link: https://discord.com/channels/690955085127221308/692046098113757274/870916360522309652

KAVA update:

💰🔥 TP1 hit! 🔥💰

20% up. Personally I just rebought here, the same price as was sold. Could be an ascending channel breakout here. Gonna hold the whole position a while longer.
Now: https://s3.tradingview.com/snapshots/s/SolEknlA.png
Entry: https://s3.tradingview.com/snapshots/n/NfMqfqA2.png
Call link: https://discord.com/channels/690955085127221308/692046098113757274/871334297850757121

👑#BTC update:

Stopped at cloud's edge for a bit, but the post above still applies. Edge to edge setup continues.

https://www.tradingview.com/x/F50yakDq/

👑#BTC update:

Middle of the cloud, e2e half way done. Resistance still at $46800.

https://www.tradingview.com/x/rFjzB365/

SNX update:

Stopped out. ❌

New low, setup no longer valid, too bad.
Now: https://www.tradingview.com/x/Xx4zr0XS/
Entry: https://www.tradingview.com/x/2mu5RIuw/
Call link: https://discord.com/channels/690955085127221308/692046098113757274/872928220654219325

👑#BTC update:

About $100 short on spot, perfect $46800 touch on futures. E2E setup finished. Congrats if you followed!

BTC longs should be closed now, we can re-long after the cloud's edge is broken through.

https://www.tradingview.com/x/sBnNb3fv/

KMD update:

If you're still in after the TP1 hit, raise the SL up to 1850 sats here. If you aren't, now's a pretty nice place to buy some. TPs are the same.
Now: https://www.tradingview.com/x/E1HIgqc0/
Entry: https://s3.tradingview.com/snapshots/s/snM8T1vy.png
Call link: https://discord.com/channels/690955085127221308/692046098113757274/860970427270430751

ZEN update:

Moving the TP1 from 19700 to 18600. The closest resistance is kijun, and by this point it has moved down a bit.
Now: https://www.tradingview.com/x/nJRRnduG/
Entry: https://www.tradingview.com/x/Bp2N2Fla/
Call link: https://discord.com/channels/690955085127221308/692046098113757274/872908238629249034

FET update:

💰🔥 TP1 hit! 🔥💰

Took a while, but it finally hit. 22% up from entry.
Now: https://www.tradingview.com/x/vM7x1eL0/
Entry: https://s3.tradingview.com/snapshots/w/WtlNLE9w.png
Call link: https://discord.com/channels/690955085127221308/692046098113757274/871040102179160187

👑#BTC update:

Resistance is acting as resistance should. Closest support - 42k.

https://www.tradingview.com/x/3bOt7xVd/