❗️Bitcoin Weekly Candle closed around 6438. That is the lowest weekly close for 2018 & lowest since 6th November 2017
Price action confirms a prolonged bearish/sideways tone. Tricky for Bag Holders for few months, great time coming for FIAT Holders! Most ALTs will suffer more brunt when $BTC resumes downtrend.
All $BTC bounce will be sold off until stronger downside supports are tested.
Downside targets:
5776
5400
4987
4718
4500
4275
Expect a sharp reversal at 4500 +/- 10%
Upside Target 7500
Price action confirms a prolonged bearish/sideways tone. Tricky for Bag Holders for few months, great time coming for FIAT Holders! Most ALTs will suffer more brunt when $BTC resumes downtrend.
All $BTC bounce will be sold off until stronger downside supports are tested.
Downside targets:
5776
5400
4987
4718
4500
4275
Expect a sharp reversal at 4500 +/- 10%
Upside Target 7500
❗️Insider News:
SEC approves BITCOIN ETF with few riders, insists for minimum share to be priced at 500,000$ & insurance cover of 105% to cover costs! ETF Launch date 1st Aug, 2018
(This is our fantasy, dream & desire)
(Wish that was true) 🎯
SEC approves BITCOIN ETF with few riders, insists for minimum share to be priced at 500,000$ & insurance cover of 105% to cover costs! ETF Launch date 1st Aug, 2018
(This is our fantasy, dream & desire)
(Wish that was true) 🎯
If there is no SEC trigger than Bitcoin will play sideways 4500-7900 for few months & may extend to 11800 later in 2018.
📌All Time High in 2018 is possible only with SEC approving ETF
📌All Time High in 2018 is possible only with SEC approving ETF
#Bitcoin No Change in View
Every bounce will be sold off. Upside capped at broken trendline. $BTC is following this channel. A bounce was expected so calling this bounce a start of a bull run will be mistake
WE ARE NOT DONE YET WITH DOWNSIDE
7050 & 7200-7300 major Resistance
Every bounce will be sold off. Upside capped at broken trendline. $BTC is following this channel. A bounce was expected so calling this bounce a start of a bull run will be mistake
WE ARE NOT DONE YET WITH DOWNSIDE
7050 & 7200-7300 major Resistance
❗️Reminder: H1 2018 closing
We are in June & this month is half yearly closing for some Hedge Funds, expect greater volatility across all asset classes including crypto
Major dates : 29th of June being last Friday of the month & 30th June being the last day of the month!
We are in June & this month is half yearly closing for some Hedge Funds, expect greater volatility across all asset classes including crypto
Major dates : 29th of June being last Friday of the month & 30th June being the last day of the month!
Once a Strong Support is broken it turns into a Strong Resistance
BTC may attempt to break higher but will be rejected as topside resistance is heavy. Expecting 20-30% downside in BTC but expect slow & boring price action.
BTC may attempt to break higher but will be rejected as topside resistance is heavy. Expecting 20-30% downside in BTC but expect slow & boring price action.
Myth: News move the markets
Reality: Market moves are pre defined. NEWS/FUD (both positive & negative) is created to justify the price action.
📌Filter the Noise & focus on learning Support & Resistance. Every past or future FUD is already priced in the levels.
Reality: Market moves are pre defined. NEWS/FUD (both positive & negative) is created to justify the price action.
📌Filter the Noise & focus on learning Support & Resistance. Every past or future FUD is already priced in the levels.
❗️Downside is not done yet but it’s a good time to start buying & add on dips for mini bull run that’s expected later this year for ALTs. Everything is on SALE so BUY what you like based on your own research. We have issued some calls & we stand by all calls.
Do yourself a favor. If anybody is telling you 20,000 & new ATH by end 2018, simply unfollow them. They have no idea what they are talking about.
🎯 Our mini bull run targets are 50-150% from current+dips levels. To go to 20K we need 350% & that’s not happening.
Do yourself a favor. If anybody is telling you 20,000 & new ATH by end 2018, simply unfollow them. They have no idea what they are talking about.
🎯 Our mini bull run targets are 50-150% from current+dips levels. To go to 20K we need 350% & that’s not happening.
💡We have had plenty of discussions about bearish scenarios. Here are some bullish triggers:
- SEC approves BTC ETF
- China / Korea lifts ICO Ban
- Banks lift credit card restrictions
- SEC approves BTC ETF
- China / Korea lifts ICO Ban
- Banks lift credit card restrictions
Do you know the difference between #Bitcoin Futures & proposed #Bitcoin ETF?
Some are confused as to why $BTC will jump 100% & probably reach 25500 target within days if & when SEC approves ETF. All technical levels will go for a toss!
#Bitcoin ETF vs Futures
- Futures is a synthetic product not backed by physical $BTC
- ETF is backed by physical $BTC, that means the Fund needs to buy real bitcoin & store as underlying asset
- ETF approval brings regulatory legitimacy to #crypto from SEC
📌 ETF opens up whole new investor class that can not invest in #crypto currently due to uncertain regulatory environment. This includes pension funds, sovereign funds, onshore hedge funds, special situation funds & non accredited investors
- While You can short $BTC Futures, $BTC ETF you can only LONG.
- For physical #bitcoin based ETF, Equivalent amount of underlying #BTC must be acquired from open market & stored.
That was brief summary of ETF Vs Futures. Hope you liked it!
Some are confused as to why $BTC will jump 100% & probably reach 25500 target within days if & when SEC approves ETF. All technical levels will go for a toss!
#Bitcoin ETF vs Futures
- Futures is a synthetic product not backed by physical $BTC
- ETF is backed by physical $BTC, that means the Fund needs to buy real bitcoin & store as underlying asset
- ETF approval brings regulatory legitimacy to #crypto from SEC
📌 ETF opens up whole new investor class that can not invest in #crypto currently due to uncertain regulatory environment. This includes pension funds, sovereign funds, onshore hedge funds, special situation funds & non accredited investors
- While You can short $BTC Futures, $BTC ETF you can only LONG.
- For physical #bitcoin based ETF, Equivalent amount of underlying #BTC must be acquired from open market & stored.
That was brief summary of ETF Vs Futures. Hope you liked it!
❗️Crypto is not going to die. BTC lost 90% many times & each time managed to stage a comeback. It will be no different this time. NO PANIC but prolonged Sideways until upside break 📈. Regarding bottom, we are not too far from our target 4500-5400. So Buy & add on dips. Top 10 coins have max 15-20% downside left from current levels. Smaller coins may suffer more than that. Just because something is down 90% doesn’t mean it can’t go to 99% so be selective!
NEO is in our buy zone. XRP is approaching our buy zones. Stay safe.
NEO is in our buy zone. XRP is approaching our buy zones. Stay safe.
This is the break above $6250 #bitcoin bulls were looking for and it was backed by a spike in volume.
Next resistances include 200 hour MA area ($6430-$6490) after that ~$6830.
Next resistances include 200 hour MA area ($6430-$6490) after that ~$6830.
The 1 Day bitcoin chart shows an interesting RSI downtrend line that has been forming since April and a test will likely occur in the next few hours.
Breaking through the trendline would increase bullish bias to the rally.
A rejection would likely increase bearish bias.
Breaking through the trendline would increase bullish bias to the rally.
A rejection would likely increase bearish bias.
#Bitcoin Short Squeeze
If you see a sudden short squeeze spike in $BTC, the green candle can’t cross 50 Day MA & will be rejected hard. Last month CME settlement was 7450. This Friday is CME closing again. Be on the guards
If not we test 100 week MA before the spike
If you see a sudden short squeeze spike in $BTC, the green candle can’t cross 50 Day MA & will be rejected hard. Last month CME settlement was 7450. This Friday is CME closing again. Be on the guards
If not we test 100 week MA before the spike