Forwarded from Crypto Signals
We’re entering bullish market sentiment and the main reason is upcoming halving.
There are people saying it’s already priced in.
What people don’t understand are the technical side of halving.
It doesn’t matter if it’s priced in or not.
That can only cause short term price fluctuations.
The first major impact of halving is that it’s going to make Bitcoin more scarce.
The second and most important impact is giving miners 50% less rewards.
It means that selling pressure caused by miners that always there will decrease.
Miners are always bears in the market because they need to sell Bitcoin to pay electricity.
When you give them 50% half of the coins they used to get, the selling pressure will definitely go down.
No matter what happens, history is perfectly clear.
When we’re approaching halving, the market is entering into the bullish cycle and when in that cycle, avoid shorting with big positions because you can be shaken out of the market quickly.
There are people saying it’s already priced in.
What people don’t understand are the technical side of halving.
It doesn’t matter if it’s priced in or not.
That can only cause short term price fluctuations.
The first major impact of halving is that it’s going to make Bitcoin more scarce.
The second and most important impact is giving miners 50% less rewards.
It means that selling pressure caused by miners that always there will decrease.
Miners are always bears in the market because they need to sell Bitcoin to pay electricity.
When you give them 50% half of the coins they used to get, the selling pressure will definitely go down.
No matter what happens, history is perfectly clear.
When we’re approaching halving, the market is entering into the bullish cycle and when in that cycle, avoid shorting with big positions because you can be shaken out of the market quickly.
After yesterday’s move up, Bitcoin started the final stage of the parabolic move up.
It means that upcoming days will be extra volatile and I wouldn’t be surprised by $600-800 daily candles in either direction.
The first long target ($10500) has been reached and I’m out of that long.
I think the high of this entire move up that lasts for 4 weeks will be reached this week and next week we’ll have a market correction.
From which price, how deep, to which price are the questions you may have but I can’t give you the answers because I am not guessing but just analyzing the information market gives.
In terms of time, the high is not far away.
Again, I'm going against the opinion of the majority but that's what I see based on market conditions and my analysis.
It means that upcoming days will be extra volatile and I wouldn’t be surprised by $600-800 daily candles in either direction.
The first long target ($10500) has been reached and I’m out of that long.
I think the high of this entire move up that lasts for 4 weeks will be reached this week and next week we’ll have a market correction.
From which price, how deep, to which price are the questions you may have but I can’t give you the answers because I am not guessing but just analyzing the information market gives.
In terms of time, the high is not far away.
Again, I'm going against the opinion of the majority but that's what I see based on market conditions and my analysis.
Here’s what I meant yesterday and why I said that I’m out of longs…
This still can go up but Bitcoin better stays far away from this trendline.
In parabolic moves, 4th test of trendline usually leads to breakdown.
So, if it stops at the current price, then it will be a very good front run of that area and bulls are safe.
If it comes close to that area (move below $10,000), I don’t think it’s going to hold.
Overall, I'm neutral and I wait for the market to build the next profitable setup.
This still can go up but Bitcoin better stays far away from this trendline.
In parabolic moves, 4th test of trendline usually leads to breakdown.
So, if it stops at the current price, then it will be a very good front run of that area and bulls are safe.
If it comes close to that area (move below $10,000), I don’t think it’s going to hold.
Overall, I'm neutral and I wait for the market to build the next profitable setup.
I was scrolling through twitter and the number of hate people get on bearish opinion is astonishing.
There are trading and holding.
Since I bought Bitcoin, I never sold it which means that I’m a big believer in Bitcoin and crypto in general.
But on the other side, I’m also a trader and when I trade, I’m trying to detach myself from the fact that I love Bitcoin.
I try to be as neutral as I can, looking for all the possible scenarios and then choosing the most probable one.
When I’m bearish, I am not selling Bitcoin but just shorting it in order to make even more Bitcoin.
Being bearish or bullish has nothing to do with Bitcoin.
It’s the current market condition and your opinion on it.
Separate these two things as fast as you can otherwise, you’ll be in big trouble trying to make money trading.
There are trading and holding.
Since I bought Bitcoin, I never sold it which means that I’m a big believer in Bitcoin and crypto in general.
But on the other side, I’m also a trader and when I trade, I’m trying to detach myself from the fact that I love Bitcoin.
I try to be as neutral as I can, looking for all the possible scenarios and then choosing the most probable one.
When I’m bearish, I am not selling Bitcoin but just shorting it in order to make even more Bitcoin.
Being bearish or bullish has nothing to do with Bitcoin.
It’s the current market condition and your opinion on it.
Separate these two things as fast as you can otherwise, you’ll be in big trouble trying to make money trading.
Crypto Signals
After yesterday’s move up, Bitcoin started the final stage of the parabolic move up. It means that upcoming days will be extra volatile and I wouldn’t be surprised by $600-800 daily candles in either direction. The first long target ($10500) has been reached…
Upcoming days are going to be extra volatile and we are going to see daily candles of $600-800 in either direction?
It seems like we’re getting exactly the scenario I warned you about.
It seems like we’re getting exactly the scenario I warned you about.
After yesterday’s madness in the market, we’re seeing some kind of consolidation but don’t expect it to last because we’re coming closer to the trendline and reaction to that area is expected.
Currently, I’m unbiased, giving the same chance to either side of the market.
It’s Friday and the time that is coming I usually take for scalping because I want to wait for weekly close to get the direction for the weak ahead.
Currently, I’m unbiased, giving the same chance to either side of the market.
It’s Friday and the time that is coming I usually take for scalping because I want to wait for weekly close to get the direction for the weak ahead.
Crypto Signals via @vote
What’s your opinion on the market?
anonymous poll
I’m bullish – 218
👍👍👍👍👍👍👍 56%
I’m bearish – 96
👍👍👍 25%
I’m neutral – 72
👍👍 19%
👥 386 people voted so far.
anonymous poll
I’m bullish – 218
👍👍👍👍👍👍👍 56%
I’m bearish – 96
👍👍👍 25%
I’m neutral – 72
👍👍 19%
👥 386 people voted so far.
Crypto Signals via @vote
What’s your opinion on the market? anonymous poll I’m bullish – 218 👍👍👍👍👍👍👍 56% I’m bearish – 96 👍👍👍 25% I’m neutral – 72 👍👍 19% 👥 386 people voted so far.
It’s obvious that you’re guys bullish on the current market situation.
I should be cautious posting neutral or bearish scenario 😜
Jk, I’ll share whatever I think, be it bullish or bearish.
It’s weekend and all my focus towards the weekly close to get that direction for the week ahead.
I should be cautious posting neutral or bearish scenario 😜
Jk, I’ll share whatever I think, be it bullish or bearish.
It’s weekend and all my focus towards the weekly close to get that direction for the week ahead.
As of the data we have now, the funding will stay low for next 2 fundings at least (next 16 hours).
It’s a very important sign because if that’s going to keep price low, it’s going to cause daily closure to be bearish which can cause further correction approaching weekly closure.
This could set the direction for the week ahead.
It’s a very important sign because if that’s going to keep price low, it’s going to cause daily closure to be bearish which can cause further correction approaching weekly closure.
This could set the direction for the week ahead.
This is what drives the market.
This tells us all about the market and current sentiment, buyers, sellers.
These are the causes for everything that happens.
By learning this, you’ll be able to forecast scenarios in the future and you’ll always be pointing in the future event.
On the other side, people are still using the old method of analysing by looking into the past and what happened there.
It helps but that’s analysing the outcome, not looking for the cause of that outcome.
Soon I’m going to release something that will change the way you see the market. 😉
This tells us all about the market and current sentiment, buyers, sellers.
These are the causes for everything that happens.
By learning this, you’ll be able to forecast scenarios in the future and you’ll always be pointing in the future event.
On the other side, people are still using the old method of analysing by looking into the past and what happened there.
It helps but that’s analysing the outcome, not looking for the cause of that outcome.
Soon I’m going to release something that will change the way you see the market. 😉
On this move up, Bitcoin dropped several times and every time it was bought up and price reached a new high.
When the market gets used to it, everyone starts buying dips ignoring predefining risk because “it should bounce again”.
Well, this is usually the beginning of the deeper market correction because there’s going to be a lot of buyers who bought high.
I’m not saying it’s going to happen now but the longer we wait for that bounce, the more nervous those buyers will become and sell-off is most likely going to happen.
I called bounce off three times in the past 7 days.
This time, I’m not going to do it.
The main reason is that this time, the important area has been broken comparing to the previous cases when we dropped into an area where we could “afford” it.
Let’s wait for today’s daily closure and once we get it, I’ll update you.
When the market gets used to it, everyone starts buying dips ignoring predefining risk because “it should bounce again”.
Well, this is usually the beginning of the deeper market correction because there’s going to be a lot of buyers who bought high.
I’m not saying it’s going to happen now but the longer we wait for that bounce, the more nervous those buyers will become and sell-off is most likely going to happen.
I called bounce off three times in the past 7 days.
This time, I’m not going to do it.
The main reason is that this time, the important area has been broken comparing to the previous cases when we dropped into an area where we could “afford” it.
Let’s wait for today’s daily closure and once we get it, I’ll update you.
Altcoins are still, on average, 70-85% down from their all-time price and this index is at its all-time high.
Don’t you see something weird here?
We need to see 500-700% gains just to get to break even on major alts (on smaller ones it’s even bigger gain required) but the bullish sentiment is already at the all-time high?!
Sorry but seems very unlikely to even come close to previous all-time highs (in BTC value because in USD, it's possible if Bitcoin goes up).
For those whe don’t get my math with , here’s simple explaination.
Let’s imagine you have $100.
If you lose 80% of it, you’ll have $20.
To get back to $100, you need gain of 500% on those $20.
Don’t you see something weird here?
We need to see 500-700% gains just to get to break even on major alts (on smaller ones it’s even bigger gain required) but the bullish sentiment is already at the all-time high?!
Sorry but seems very unlikely to even come close to previous all-time highs (in BTC value because in USD, it's possible if Bitcoin goes up).
For those whe don’t get my math with , here’s simple explaination.
Let’s imagine you have $100.
If you lose 80% of it, you’ll have $20.
To get back to $100, you need gain of 500% on those $20.
ETH at last resistance before exceeding 2019’s high.
Back to long term perspective from intraday trading, here’s a very strong trend in ETHUSD.
Rejection from this area on the first test is expected but in my opinion, it won’t take too much until we see this area being broken.
Most likely before halving, we’ll see ETH above 2019’s high.
Back to long term perspective from intraday trading, here’s a very strong trend in ETHUSD.
Rejection from this area on the first test is expected but in my opinion, it won’t take too much until we see this area being broken.
Most likely before halving, we’ll see ETH above 2019’s high.