​​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.

​Not really much to say about Trump’s tweet.

Why would Trump speak positively about Bitcoin? It’s like why would the Fed speak positively about Bitcoin? It goes against their own currency, what they stand for.

So, Trump says what he is supposed to say and you should not expect anything different.

🔥But here is the most important thing: The president of the United States is tweeting about Bitcoin. This fact clearly indicates that Bitcoin has come very far.

⚠️ ETH/BTC is breaking down the Multi Year Support & this weekly close can be the lowest since March of 2017.

Also pay attention to that fractal marked with red & green arrows.

📌 Don't forget to subscribe to our Trading View profile & hit the like button. We would appreciate it.

https://www.tradingview.com/chart/ETHBTC/Ff2OBCec-ETH-BTC-Looks-Horrendous/

​#BTC: No trade zone 11k-12k.

Breaking down the 11k has high chances to set us off on a huge downtrend towards 9k area. The only level where it can bounce before 9k is EMA200 on 4h timeframe.

❗️This week is coming to an end and as of right now it doesn't look good because of multiple long upper wicks. Closing the weekly above 12k is bullish.

#BTC 4h update

👉Look how beautifully EMA200 is holding the price once again. Yesterday we mentioned that once we go below 11k, target is 9k zone but the only if is EMA200. Watch if it bounces the price or not. If it does, we can make it back to the breakdown level (11k).

The way it looks like right now is slightly bullish, because we had a significant fall and right now working on a reversal candle at resistance.

So, EMA200 didn't hold the price and we dipped to 9850 pretty quickly.

Pay attention to the descending channel. If we break out of it to the upside, the area of the breakdown at 11k should be tested. Also don't forget about open gan on the CME Futures (11-11.5k).

9k area target

BTC 4h update

So like we expected, BTC touched the breakdown level of 11k. There we got rejected and now are heading towards our 9k target.