🔥🚀 BTC almost reached 13k !

Our yesterday analysis posted here for free is working out just perfect!

👉 Once we broke 0.5 Fib at ~ 11 500, we rallied $1.5k to the upside. Hope you followed our analysis and made some profit.

🔥 BTC has just got to our target that we pointed out in our analysis - 0.618 Fib at ~13400 and trying to break it!

⚠️ It's the last major resistance! Pay very close attention to the daily close.

​⚠️ This is also something pay attention to:

👉 CME half yearly futures expire on Jun 28

This week is remarkable not only because of that fact, but also because it’s the last week of the quarter & half year.

Half yearly closing for crypto venture capital funds is very important.

📉📈 Expect some fireworks and unusual moves starting tomorrow.

​#BTC

📉 BTC got a very violent rejection at 0.618 Fib (which was our target). Also we anticipated a drop from those levels and that 25% drop within a single weekly candle was not surprising.

So, what we are keeping an eye on is this weekly close. It will determine a lot. There's nothing we can say about the current candle until it closes. This candle could end as a reversal one but as of right now it's not.

📌 Closing above 11.5k (0.5 Fib) and especially 12k will lead us back up.

​📊 "buy bitcoin" is ranking on Google Trends lower than we were back in May of 2017.

We are above $10k and people care about it less than they did back when it was $1k over two years ago. Public mania is not yet here.

💡The price has risen and nobody cares. So, that was internal money pumping the price.

​💡Here's something interesting on the quarterly chart of Bitcoin

Quarterly chart pointed out the crucial area of resistance for this rally just perfectly. Look at the close of that big green candle during the 2017 bull run. Unbelievable that it's the same number we got rejected last week at. ⚠️That's more than just a coincidence.

[ On the monthly we got the same level of resistance by the way ]

🎯 Conclusion: higher time frames closes are extremely important. The next area of support based on the closings is 6600

📉 So, BTC went sub 10k and almost reached our first target marked with an arrow at 0.382 Fib and bounced off. 

BTC weekly chart is quite hilarious with those wicks. 
On Monday BTC looked like a disaster, but because of a swift rebound forming that long lower wick it doesn't look so bad anymore. 

👉 This week is negating previous weekly reversal candle right now, but technically we need to get above that huge upper wick. 

🐂 Technical picture turns bullish assuming that we will close the week at current price. We really need to close above that 0.5 Fib (11.5k)  

​​BTC 4h

⚠️The most important thing here is this Major Resistance Zone. The area between 12 100 and 12 400 is very critical.

📈Breaking and closing above it is very bullish.

📉Failure to do that can lead us to 200EMA

Thanks for voting.

Actually this chart is not just bullish, it's super bullish. But here is the thing: it's ETH/BTC inverted chart❗️

​ETH/BTC looks horrendous

We are sitting on a Multi Year Support. That range 0.024-0.026 has been a very impressive support since Dec. 2017: it bounced the price in Dec. 2017 amazingly strong, it held the price in Dec. 2018 and it's the fourth time this year we are dipping into it. Looks like this major support is going to break 📉

[ If the support gets touched for the third or the fourth time, it becomes a level that is going to break. Yes, it may bounce the price again, but the probability of that happening is 10% ]

⚠️ We are about to get a brand new weekly close and it's gonna be the lowest weekly close since March 2017 and that is extremely bearish.

BTC dominance #update

Super interesting chart: BTC dominance

Creating higher highs and higher lows and it is not out of the question to think it will get back to 90% territory. But that's not coming very soon.

👉 2017 was the year of alts. Bitcoin market cap dominance decreased from 94% down to 36% and then it stuck in the range below 60% for all 2018.💡Dare to presume that 2019-2020 is mostly Bitcoin time as we are leading into the halving.

⚠️Alts are gonna have very tough times surviving a Bitcoin halving, but this isn't doom for altcoins. We will see some alt parties while struggling at resistance areas for BTC dominance.

📌 Back in May we published a chart with two possible areas of rejection for BTC dominance. Our analysis worked out perfectly: we got rejected at Area of Rejection No.1, and after that we broke through it in late June. Now we are heading towards Area of Rejection No.2 (70-73%).

Bitcoin's dominance hasn't been above 70% since July 2017 & we see this as a definite resistance area.

🎯 Area of Rejection No.2 is a strong horizontal level + MA200 coming there + it's the final target of the bullish flag.

BTC 4h #update

🎯 Notice how close we got to testing the Major Resistance Zone and reversed right before it. That is a very interesting sign.

👉 Also pay attention to how important that level market with the dashed line has been. We were foreseeing it act as a nice support and it did it.

⌛️Wait for either breaking above 12150 or going below that support at 10770

​BTC: the weekly close came in at 11470 on Bitstamp.

Closing back above that shooting star body and previous high is very significant. Also we managed to close slightly above 0.5 Fib for the first time!

💡Just by looking at the weekly chart we can conclude that it’s slightly bullish.

​Do or die for Litecoin

Weekly: LTC has been moving up inside that ascending channel and now it’s testing the support.

4h: LTC is trading in a tight range. This thing is going to explode. Which direction?

Here is something to consider:

👉 Death cross between 50 & 200 EMAs after a major rally.

⚠️ If this is followed by breakdown of the trend line, that is a very good sell setup.

🔥📉 Look at Litecoin, guys! Don't say you haven't been warned.

🎯 So, our LTC analysis worked out amazingly well. Just perfect!

We warned you about the death cross between EMA50 & EMA200. We mentioned that this thing was going to explode once the support breaks. And guess what: it dropped like a rock!

Look at that crazy wick to $71 on Kraken. On Bitstamp Litecoin only dropped to $102.

This idea was also published on Trading View:

https://www.tradingview.com/chart/LTCUSD/Ymu3L3Yk-Litecoin-Do-or-Die/

👉Press the play button and see how perfectly we called this move. Don't forget to give this idea a Like.

⚠️ Make sure you have already subscribed to our Trading View profile.

​Look at this: the long to short ratio is at the all-time high! Technically speaking, this grossly favors the bears.

However anything coming out of Bitfinex should be taken with a grain of salt.