BTC on CME

The price of Bitcoin is shaping up as a perfect rising wedge (generally bearish formation) on 1h CME chart

Moreover, there’s a small Gap between 10670-10575 📍

💭Wouldn’t be surprised if we have a pullback here

BTC CME update

🎯 The Rising Wedge broke to the downside as expected!

🔥Best time to try ByBit is now!

To get up to $300 bonus you need to register through this link and use voucher code Get300fromCryptoBullet

https://partner.bybit.com/b/cryptobullet

63% of all bitcoins have not moved in a year

It’s the absolute maximum

A new bullish cycle is starting 🚀

📉 BTC keeps crashing as expected. My analysis played out just perfectly!

🎯 CME Gap got filled!

Congratulations to those who followed!

BTC is again testing the support of the channel

Nothing has changed

BTC 1D simplified view

The month-long constitution is coming to an end

It’s time to look at these two MAs since they are squeezing the price quite accurately, and trade the breakout

🐂 Bullish above MA50

🐻 Bearish below MA128

BTC CME Chart

A large pennant is ready for a breakout

If this structure resolves to the downside, we’ll fill the CME Gap at 9850-9645 📍

BTC 👀

Bullish

So, BTC did close the daily candle above MA50

Need to see a a continuation to the upside

Cautiously bullish now

Jack Dorsey’s Square purchased $50 million worth of Bitcoin

In September MicroStrategy bought a fat chunk of Bitcoin ($425 million)

This is a very bullish sentiment 🚀

What are the odds that other cash-rich companies like Google, Apple, Microsoft will not get serious questions about Bitcoin at the next shareholder meeting?


📌 Note

Apple has $193.8b in cash on hand
Microsoft has $136.6b
Google has $121.1b

Only $25b of capital needs to flow into Bitcoin to push it to $1T market cap (5x from the current level)

🚀 There we go!

BTC pumped nicely after the breakout just like I expected!

I hope my analysis helped you to make some money on this move

BTC 1d Update

Perfect bounce off of the channel’s support

Support trendline on the RSI hold as well

🎯 Target reached!

There’s more room to go up

If we can sustain this upmove, I would look for a test of the mid line of the channel at least (~11.9k)

We’ve got a new CME Gap at 11360-11095📍

I think it’s going to get filled

That would be a perfect test of the breakout level turning prior Resistance into Support

People have been fleeing BitMEX quite aggressively since the CFTC charges against BitMEX

BTC 3h

We have a pretty clean horizontal channel with a couple of fake breakouts

Notice how the fake breakdown symmetrically cancels out the fake breakout of the horizontal channel to the upside

This confirms the channel boundaries I have drawn

EMA50 is coming near the bottom of the channel, so if we break them down, I believe we’ll reach Support 1 (11.1k) fairy quickly 🐻

🐂 Bullish if we breakout to the upside. In that case I would expect the price going to 11.9k

BTC Update

Nothing has changed

Notice how EMA50 on 3h has been holding the price! Beautiful

Even though we have to stick to the well-defined levels to go short or long, I have a slightly bearish bias 🐻

This BTC consolidation starts to look like a Wyckoff Distribution

Beautiful support by EMA200. Break this one down and the sell-off will start📉

Another CME Gap between 11370-11470 📍

🚀 Beautiful breakout to the upside!

As it was said in previous BTC update, it’s important to stick to the well-defined levels to go short or long

I hope you stuck to my analysis and went long when BTC started breaking out