#BTC 4h

If we keep this local low (8220) intact, bullish continuation is still on the table

Breaking below 8250 on the closing bases would invalidate any bullish case. Also going below 8220 would confirm Evening Star on the daily and trigger a short trade.

Did you follow our recommendation and short BTC ?

So, once we broke down below that low at 8250, we entered Bear territory. As of right now we dropped by 4%

​18 000 000 BTC mined! It took 10 years and it will take approximately 120 years to mine the rest 3 000 000.

⌛️207 days to halving and with rising hashrate the coin reward decrease from 12.5 to 6.25 coins will occur even earlier

Critical support is eventually broken!

The massive Support Cluster we were talking about got broken today! We are now below the trendline, 50-Week EMA, strong horizontal level and high volume node on VPVR.

We have almost reached the next horizontal level at ~7350. Feels like we are gonna go lower.

Horizontal level at 7350 reached!

​⚠️ Here is something to pay attention to - this weekly candle is a TD-9 buy. We haven't seen it since Jul. 9 of 2018. Back then Bitcoin rallied up by 40% just in 2 weeks!

However, now we are a in a different environment and we may just have a consolidation like we had in April after the Weekly TD-9 sell, but this 9 buy is definitely something to keep in mind.

📌Also don't forget that CME Futures are expiring tomorrow at 4:00 PM London time (3:00 PM UTC time)

Taking all this into account, would say we are due for a bounce, but let's see.

#BTC update

Yesterday we warned you that we expected a bounce somewhere around the CME Futures Expiration and guess what? A monster 1k candle happened just that hour (3:00 pm UTC time) when CME Futures expired.

As of right now, the weekly looks just insane: we flipped the TD-9 buy into a green 1 hammer reversal candle. However, there's no volume confirmation. This weekly volume is the lowest since the week of April 15. We have a couple of days to go, so let's wait for the weekly close.

So, we got the weekly close and look at that - during the first half of the week we broke down the critical support and in the end of the week reached the important level of 7350 we had pointed out earlier, bounced off of it and rallied tremendously to the upside into the weekly close.

The week closed above the breakdown level of the descending triangle on a pretty high volume.

That’s why it’s important to wait for the weekly close. The ascending trendline is still valid.

​CME picture is pretty interesting

Notice how perfectly the 200-Day MA on the CME BTC Futures bounced the price and how we got rejected by the 100-Day MA. What a beauty!

Now we have two Gaps to fill:

1 - 8885 - 9365
2 - 11695 - 11795

🎉 Happy 11th Birthday Bitcoin!
Oct. 31st, 2008 Satoshi Nakamoto shared the Bitcoin whitepaper with the world

From the Bitcoin whitepaper: “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution”

📌 To note:

Bitcoin: a digital currency with limited and known supply, no borders, and no central group controlling it.

US Dollar: a digital currency with unlimited and unknown supply, border restrictions, and controlled by a banking cabal.

What's in your wallet?

​#BTC

After an unprecedented pump, the price cooled off and formed something simmilar to a bull flag. The only thing that keeps us from falling by ~$400 is the 200-Day MA.

We are below the 0.382 Fib and look ready to fill that gap on VPVR (there's open air between 9100 and 8700).

⚠️ If we break the MA200, we'll probably make it all the way down to EMA200 (8650) & 0.618 Fib and find some support there.