#BTC Update 🚨

BTC might be setting up for a massive fakeout here. With 2.5 days left until the weekly candle closes, we'll have a clearer picture soon.

After over 150 days of sideways action, I expect a strong move and potential breakout in the next 30-50 days. Stay tuned! 👀🚀

#BTC

I certainly don't like the 2-week bearish engulfing close.

Bulls need to step in and show that buyers are still present, or we’re likely to test $50K soon.

#BTC

Here's a LIFE HACK for you:

Check out the RSI on the Monthly timeframe. Notice how, in every cycle, we see two tops on the RSI for the Monthly TF:

- 2013 - cycle top
- 2017 - cycle top
- 2021 - cycle top

Now, we're working towards the 2024/2025 cycle top.

In 3 out of 4 cycles, the RSI has reached cycle tops twice. In 2021, the second cycle top was shallow but still significant (it was a bearish divergence, signaling weakness).

My point is this: I expect another BTC run (the final one) before a new bear market begins.

The big question is whether this next wave will be a strong one leading to $100k+ with the RSI making a higher high, pushing into overbought territory, or if it will be a shallow move like in 2021, with BTC reaching $85k-$95k and trapping many investors, just as it did in 2021.

We need to be prepared for both scenarios 📈📉

#BTC Dominance will meet Thor’s hammer very soon ⚡️🔨⚒️

#BTC

I see people getting scared on CT because of a small outflow from BlackRock.

Actually, this is its second outflow since the ETF launch.

Interestingly enough, on March 12th, at the peak of this mid-cycle top, we had the biggest inflow from BlackRock.

On May 1st (the first outflow from BlackRock), we marked the local bottom.

On August 29th (the second outflow from BlackRock), are we marking the local bottom again?

We shall understand soon.

#BTC

Until we break 62.4k, nothing (short-term bullish) is confirmed.

It would be great if we close the month around 61-62k.

Then, a dip to 56-57k may follow in September.

Wait and see 🤓