​#BTC: There’s something to watch on the 4h

Look at how BTC is shy of getting a death cross between 50 EMA & 200 EMA. If the 4h fails to get a death cross, that will be a pretty bullish sign.

BTC is slightly bullish short term as long as the price stays above the 200 EMA on a closing basis.

👉Once it breaks down, we will accelerate to the downside and finally get the death cross.

​⌛️The week is coming to an end & if the candle closes the way it looks like right now, technically it’s bullish because we are staying above the 7-Week MA & the trendline with a pretty long wick below it.

This weekly close is definitely something to keep an eye on!

Long awaited Bakkt official launch is very close. But is it really so?

Bakkt is going to launch a testing phase of its Bitcoin futures trading services tomorrow, July 22nd. Key word is 'testing phase', which means that this is not going to be a full launch and investors are going to be testing the new services.

⚠️ Bakkt’s full launch is expected only after the platform beta testing. In fact, tomorrow's event is not such a big deal.

So, is this a sell the news case?

​The weekly closed above the 7-Week MA & the trend line, so technically it's a bullish sign.

⚠️But here is the thing: to keep the bullish bias we really need to accelerate to the upside and get this weekly close above 10950, because that ascending trend line is very steep. Otherwise the trend line will be violated, leading to more downside. (However, non-logarithmic chart has way more room for the price to go)
📍Important level is 0.5 Fib - weekly high on the closing bases.

Take a look at that crazy wicks to the upside & downside! And on lower timeframes the price action does not look natural at all.

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​💡The current run up is not imitating the last cycle (high of $1150 in late 2013 - the low low of $165 in 2015 - the new high of 20k in 2017), which everyone tends to compare to.  
   
👉The current bull run feels more like 2012 - early 2013 bull run.

Look at the 2012 BTC action. We started with a very compressed accumulation band and then we drove the price sharply up unlike the really long period of accumulation that happened in 2015.

If the structure of this bull market is going to resemble 2012-2013, the first take to the 2019-2021 bull market is completed and the second act is supposed to start in the Q4 (October-December). 
 

​⚠️ CME BTC Futures expire today at 3 pm UTC time and settle on July 29th. May a major correction follow soon?

Also keep in mind that there are still two unfilled gaps: mid 11k range & mid 8k range.

BTC is getting ready for a breakout! The price is being squeezed as well as the RSI.

False breakout to the upside and a massive dump. Nothing special for crypto trading

📉 BTC dropped by $650 within a single hourly candle. Remarkable that most of the action happened in a flash crash manner ($400 drop in 5 minutes).

If you think it's because of the IRS sending warning letters to thousands of US taxpayers across the country about cryptocurrency reporting, you are probably wrong.

🎯 All this dangerous choppy sideways action from the top is nothing more than selling an enormous position while hunting for traders' stops & liquidations.

Technically speaking, we are on the way to 8.5k-8k zone.

❗️The biggest concern is how obvious this level is.

In other words, you should be worried by the fact that many people are identifying the same level of support (buy zone).

💡Conclusion:
- it will just take significantly longer to get to that support zone (unlikely)
- we are going lower than the majority expects
- the price will reverse before it gets to 8.5k

⚡️📰 BREAKING: A New York judge has delayed making a decision on whether Bitfinex and Tether need to turn over documents to the state Attorney General and otherwise comply with a state investigation.

90 days more to print millions of USDT

​​The month of July closed red interrupting a streak of green. Is that critical?

By simply looking at the Monthly chart, you can not deny that we are in a strong uptrend. For now July looks like a minor pullback. One thing that should concern you is high red volume.

💭 Let's talk about something that you are probably tired of and fed up with.

We see many supposed crypto "experts" or "traders", let's call them this way, who like to declare that they are always right. Always.

First of all, it's mathematically impossible. No way you will be always right in the long run, even if you are the guru of TA or FA. Especially when we talk about TA. You have to realize that TA only says what's more likely to happen. Trading is about probabilities and money management. But let's get back to those "always winning experts".

Don't you make fun of them when they post their charts with two arrows up & down? We do. Especially after the price action when they say that they were right.

⚠️ Be cautious with these "experts. There are so many of them over the Telegram and Trading View! Do not follow their recommendations, because:

- Firstly, it's hard to figure out which direction they expect the market to go (due to their ambiguous analysis)

- Secondly, if they give an analysis, you follow it and the market goes in the opposite direction, you will lose your money, but that "expert" will write that he was right again and predicted the move perfectly.

Almost 250 Bitcoin ATMs have been installed globally in July.

By the way, the monthly all-time high is 255 ATMs installed back in March 2018.

Did you miss the bottom twice?

💡Here is our new idea on Trading View:

https://www.tradingview.com/chart/BTCUSD/oXOjFDCn-Did-You-Miss-the-Bottom-Twice/

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