BTC update

EMA200 got tested again!

🐂Long wick below this moving average and the supporting trendline looks bullish

BTC update

📉The price broke down the support & like I was expecting it accelerated to the downside

🎯 BTC reached my downside target after breaking down the support

📍Don’t forget about the CME Gap at 9925-9645

We’ve come very close to it and it’s more likely we’ll have another leg down to fill it

BTC analysis

I believe we are not done with this pullback until the CME Gap is filled

The 200-Day EMA is coming right there + the declining resistance trendline from last year’s high

A retest of that area will be pretty textbook


💭 It’s just a pullback inside a bigger bullish structure

BTC Dominance update

📍On July 21st I called Bitcoin dominance to melt down to 58%

And guess what? My analysis played out perfectly! We hit my downside target 🎯

Do you remember that in a bull market dips are for buying?

📌 During the previous bull run we had multiple retraces of 30-40%

Now we are already 20% down from the high. A 40% correction would put us down at 7.4k

Last week BTC perfectly touched EMA21

[ This particular moving average was insanely successful in catching the dips during the previous bull run, so this time it definitely deserves our attention ]

💡Technically speaking, we got the pullback to EMA21 and that should be it (however it doesn’t feel so)

BTC weekly Zoomed in

We might bounce off of EMA21 to 10.5-11k, but I would view that as a dead cat bounce

📍We still have the CME Gap at 9925-9645 to fill, and that implies breaking below EMA21


So, how low can the price of Bitcoin go if that happens?


Next stop would be at MA50, which is in line with 0.382 Fib level (8.8-9k)


If that level doesn’t hold, next one is 7.4k - 0.618 Fib & MA200 is gradually approaching that level. That would be a 40% correction from the last high - exactly what BTC used to do in 2017


💭If we are to see a much deeper pullback than the current one, I am not expecting it to go lower than that level on a close

So, the worst case scenario for BTC is 7k

💭Something interesting happened on BitMEX with XBTUSD and this reminds me of what happened on Bitfinex in October 2018 but on a much smaller scale (this is actually why it might be irrelevant)

Looks similar, isn’t it?

Just saying

BTC is breaking out to the upside unlike 2018

💡Looks like it wants to fill the CME Gap at 10.6k first

The price of Bitcoin is between two CME Gaps right now

📍10625-10475

📍9850-9645

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NEO successfully retested the breakout level (R2)

🎯 First green upside arrow completed

Next target is R3 (it can take some time)

XMR has been accumulating for quite a while

Looks like a rounding bottom with a possibility of turning into a nice Cup&Handle

Currently sitting at the neckline. It might fall from here towards the Support Cluster and bounce back to the neckline and break out eventually or do it in the coming days. Either way, it looks like a bullish accumulation

🚀 To send XMR up the price needs to break above the neckline & sustain it

Major MAs are below providing support

Bullish at the breakout

BTC closed the weekly in a bullish manner - printed a bullish hammer candle

BTC 12h

The support (former resistance) held the price

Now starting to look like an Ascending Triangle with the ultimate target of 11k 🎯
Should only break above the flat top

🐻 Returning to the support level will be a bearish sign

There we go! 🚀 BTC broke out as I expected

That was quick

Update

🎯 I was right 5 days ago that BTC was going to fill the upper CME Gap at 10.6k first

It did exactly that!

🎯 BTC hit the first breakout target!

Congratulations to those who followed!

🚀🎯 BTC hit the second breakout target!

The price followed my projection just perfectly

Congratulations to those who followed!