Market update (12/9/2024):
Bias: Day 16 Downtrend (continuous). Week 13 Uptrend (continuous)
Analysis:
The daily downtrend on BTC has played out as a sideways move with prices going to 90k first then reaching over 100k before coming back to the price I made the downtrend call. Neither of those prices were sustainable for this phase of the market and thus we settle at a middle ground somewhere.
We average 16-21 days on daily downtrends and we are on day 16. Does this mean you should go out and buy right now? Are we waiting for the next leg up imminently?
I think we are at a pretty tricky part of this move. Weekly uptrend is still intact and will likely be intact for another 7-11 weeks. At the same time, I think we are at the realization stage of this daily downtrend. People may begin panic selling soon thinking the pico top is in, and this will affect both BTC and ALTS.
Actions:
Stay patient. Bottom of this downtrend is likely near but we are also at a very dangerous zone. Add slowly and steadily. Buy on big dips and capitulations for sure. Probably safer to buy BTC than alts, many of which have gone parabolic. If your entry ends up roundtripping, as painful as it would be, I suggest hodling and adding lower if you do intend on being aggressive. Many alts are still in daily uptrends while some have begun dumping super hard, likely safer to stay with strength. Invalidation would be if we go below 90k, then we could open up much lower levels for a quick nuke, maybe towards 77k but don't expect this to last. In this case, Alts would tank 30+% IMO.
Status: Inactive
Bias: Day 16 Downtrend (continuous). Week 13 Uptrend (continuous)
Analysis:
The daily downtrend on BTC has played out as a sideways move with prices going to 90k first then reaching over 100k before coming back to the price I made the downtrend call. Neither of those prices were sustainable for this phase of the market and thus we settle at a middle ground somewhere.
We average 16-21 days on daily downtrends and we are on day 16. Does this mean you should go out and buy right now? Are we waiting for the next leg up imminently?
I think we are at a pretty tricky part of this move. Weekly uptrend is still intact and will likely be intact for another 7-11 weeks. At the same time, I think we are at the realization stage of this daily downtrend. People may begin panic selling soon thinking the pico top is in, and this will affect both BTC and ALTS.
Actions:
Stay patient. Bottom of this downtrend is likely near but we are also at a very dangerous zone. Add slowly and steadily. Buy on big dips and capitulations for sure. Probably safer to buy BTC than alts, many of which have gone parabolic. If your entry ends up roundtripping, as painful as it would be, I suggest hodling and adding lower if you do intend on being aggressive. Many alts are still in daily uptrends while some have begun dumping super hard, likely safer to stay with strength. Invalidation would be if we go below 90k, then we could open up much lower levels for a quick nuke, maybe towards 77k but don't expect this to last. In this case, Alts would tank 30+% IMO.
Status: Inactive
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Moonbags Markets pinned «Market update (12/9/2024): Bias: Day 16 Downtrend (continuous). Week 13 Uptrend (continuous) Analysis: The daily downtrend on BTC has played out as a sideways move with prices going to 90k first then reaching over 100k before coming back to the price I…»
Some extra notes to add for this month:
-USA corporate tax payments due Dec 15, will likely lead to stalling in US Stocks
-CPI on Dec 11, potentially important leading up to FOMC decision
-FOMC meeting Dec 18, might be a pivotal meeting
-Full moon Dec 15
-Fabled yearly Santa Rally which happens usually before Christmas and lasts till New Years
-Potential Amazon and Microsoft or big companies/countries adding BTC to balance sheet and price reactions to these events
-USA corporate tax payments due Dec 15, will likely lead to stalling in US Stocks
-CPI on Dec 11, potentially important leading up to FOMC decision
-FOMC meeting Dec 18, might be a pivotal meeting
-Full moon Dec 15
-Fabled yearly Santa Rally which happens usually before Christmas and lasts till New Years
-Potential Amazon and Microsoft or big companies/countries adding BTC to balance sheet and price reactions to these events
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Levels I'm watching
90k BTC -> 74-80k
ETH 3845 -> 3555
SOL 210 -> 188
Total3 ATH
90k BTC -> 74-80k
ETH 3845 -> 3555
SOL 210 -> 188
Total3 ATH
Forwarded from unfolded.
MICROSOFT SHAREHOLDERS VOTE AGAINST BITCOIN INVESTMENT PROPOSAL, PRELIMINARY VOTES SHOW
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Moonbags Markets
Market update (12/9/2024): Bias: Day 16 Downtrend (continuous). Week 13 Uptrend (continuous) Analysis: The daily downtrend on BTC has played out as a sideways move with prices going to 90k first then reaching over 100k before coming back to the price I…
Market update (12/11/2024):
Bias: Day 1 Uptrend. Week 13 Uptrend (continuous)
Analysis:
Just a quick update. Looks like we have a new confirmed daily uptrend. I now expect us to take out ATH and move higher in the intermediate term. The sideways consolidation and wicks gave some good buying opportunities although probably too shallow for most people.
Bullish unless the daily uptrend is negated. Unfortunately never tested the zone today to figure out where it would negate. Expect this level to rise per day. I'm guessing its in the 99k area. Will update if I see something.
Average Daily uptrends last 17-26 days.
Actions:
Bitcoin is a bid now for it's next leg up. Only other major that seems to have confirmed a new daily uptrend is SOL. Some strong alts which have reverse their downtrend include PEPE, SUI, and AAVE. DOGE and SEI is still recovering but I expect this to blast off when it does. I am also anticipating most other alts to also recover their uptrend but not as confident as the symbols above.
Status: Inactive
Bias: Day 1 Uptrend. Week 13 Uptrend (continuous)
Analysis:
Just a quick update. Looks like we have a new confirmed daily uptrend. I now expect us to take out ATH and move higher in the intermediate term. The sideways consolidation and wicks gave some good buying opportunities although probably too shallow for most people.
Bullish unless the daily uptrend is negated. Unfortunately never tested the zone today to figure out where it would negate. Expect this level to rise per day. I'm guessing its in the 99k area. Will update if I see something.
Average Daily uptrends last 17-26 days.
Actions:
Bitcoin is a bid now for it's next leg up. Only other major that seems to have confirmed a new daily uptrend is SOL. Some strong alts which have reverse their downtrend include PEPE, SUI, and AAVE. DOGE and SEI is still recovering but I expect this to blast off when it does. I am also anticipating most other alts to also recover their uptrend but not as confident as the symbols above.
Status: Inactive
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Moonbags Markets pinned «Market update (12/11/2024): Bias: Day 1 Uptrend. Week 13 Uptrend (continuous) Analysis: Just a quick update. Looks like we have a new confirmed daily uptrend. I now expect us to take out ATH and move higher in the intermediate term. The sideways consolidation…»
Market update (12/16/2024):
Bias: Day 6 Uptrend. Week 14 Uptrend (continuous)
Analysis:
Ultra quick update, looks like alt season is cancelled by Mr Bitcoin himself.
Rampaging rally into new highs while alts are now reeling. Aside from the few alts which have a very strong narrative going for it like Trump coins (AAVE, LINK, ENA, ONDO, etc etc) , AI, NFTs, and HYPE eco, best to seek cover in BTC itself. Alts look like they are going into a bearish reversal or continued daily downtrend. I think ALTs may bleed for a bit here.
Honestly, this has taught me every single cycle, one of these type of events happen and its nothing new. The expectation that Trump was going to kickstart Alt season did not come to fruition, despite some attempts and even his wallet buying millions of alts.
We will simply keep waiting for that day to come, nothing else to say.
Actions:
-Buy Bitcoin
-Buy trending alts
-Buy capitulations on non-trending alts or accumulate them
Status: Inactive
Bias: Day 6 Uptrend. Week 14 Uptrend (continuous)
Analysis:
Ultra quick update, looks like alt season is cancelled by Mr Bitcoin himself.
Rampaging rally into new highs while alts are now reeling. Aside from the few alts which have a very strong narrative going for it like Trump coins (AAVE, LINK, ENA, ONDO, etc etc) , AI, NFTs, and HYPE eco, best to seek cover in BTC itself. Alts look like they are going into a bearish reversal or continued daily downtrend. I think ALTs may bleed for a bit here.
Honestly, this has taught me every single cycle, one of these type of events happen and its nothing new. The expectation that Trump was going to kickstart Alt season did not come to fruition, despite some attempts and even his wallet buying millions of alts.
We will simply keep waiting for that day to come, nothing else to say.
Actions:
-Buy Bitcoin
-Buy trending alts
-Buy capitulations on non-trending alts or accumulate them
Status: Inactive
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Moonbags Markets pinned «Market update (12/16/2024): Bias: Day 6 Uptrend. Week 14 Uptrend (continuous) Analysis: Ultra quick update, looks like alt season is cancelled by Mr Bitcoin himself. Rampaging rally into new highs while alts are now reeling. Aside from the few alts which…»
Moonbags Markets
How people think bull markets are: Buy a coin ->10x within 12 hours, sell then move on to the next -> 5x within 24 hours -> sell then move on and repeat What really happens: Buy coin that is pumping -> immediately lose 35%, coin then goes sideways, don't…
There has never been a more perfect time than today to bump this
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Forwarded from Watcher Guru
JUST IN: 🇺🇸 Federal Reserve Chair Jerome Powell says the Fed is "not allowed to own Bitcoin."
@WatcherGuru
@WatcherGuru
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Not gonna make a full report.
Just know this week has to bounce or we are in serious danger
Just know this week has to bounce or we are in serious danger
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Pretty solid odds the weekly close today will be scammy cuz it's right before yearly open
No report yet as you still cannot draw anything from this low liquidity condition close
No report yet as you still cannot draw anything from this low liquidity condition close
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Moonbags Markets
Market update (12/16/2024): Bias: Day 6 Uptrend. Week 14 Uptrend (continuous) Analysis: Ultra quick update, looks like alt season is cancelled by Mr Bitcoin himself. Rampaging rally into new highs while alts are now reeling. Aside from the few alts which…
Literally nothing has changed since this report other than a 2 week fakeout on low liquidity conditions. Still don't see semblance of an alt season other than some solo narratives going wild.
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