🎯 BTC was fated to go below 6k and it has done it today
(check out our Trading View idea published on December 15th)

Open Interest above $1 billion once again has proven itself to be the best indicator to anticipate huge sell offs

📉 Friday’s market sell-off followed Wall Street’s worst day since 1987. Governments are worried that the global economy would plunge into recession, so they decided to deploy stimulus to ease virus damage:

⁃ Federal Reserve recently injected $500B into the financial system

⁃ China’s central bank launched $79B stimulus for virus-hit companies

⁃ Japan offered to provide as much as 2.2 trillion yen ($20.8 billion) of liquidity in three different operations

⁃ The Central Bank of EU decided to increase bond purchases by $132B this year
The money is newly created and injected into the financial system

⁃ South Korea printed $10B

⁃ Bank of England stimulus plan is $39B

⁃ Australia’s central bank injected $5.5 billion in its open-market operations, the most in at least seven years


The fiat paradigm is trying its best to put out the fire

Open Interest hit its lowest level since May 17th, 2019

We are running out of fuel⛽️

BTC: Are You Scared? Perfect!

https://www.tradingview.com/chart/BTCUSD/RAyDt78O-BTC-Are-You-Scared-Perfect/

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You can track data and try to apply your TA on it

​Quick BTC update

The price is being squeezed between these two MAs: EMA50 - supporting the price & EMA100 - rejecting the price. We can consolidate for some time in this range until we break out, so keep an eye on this

⚠️ Hidden bearish divergence present on the RSI

BTC 4h chart

💡It’s all about this pretty wide channel (almost $2k wide). We will stay inside for some time before a breakout

Pay attention to MA50 which is in line with the mid line of this channel = strong support

Resistance: EMA100. Next one is channel’s upper border line + EMA200

BTC 4h update

We reached the upper boundary of the channel and got rejected there

Right now we are dangerously sitting on the EMA100. Break this one and the MA50 here we go

BTC 4h update

We are still holding the EMA100, the volume is declining which precedes a spike in volatility
Bearish div present on the RSI

Breaking down the EMA100 would be a short confirmation

CME BTC Futures (BTCH20) expiring in 5 hours

📌These are the Half Yearly Futures and they were launched on Sept. 30

💡Expecting some high volatility (right at the expiration time or on Monday)

​BTC 4 update

💡Big move is coming and as we are at the resistance right now with bear div on the RSI. The bias is generally bearish, but the EMA100 needs to break first

However, we’ve created a pretty decent ascending triangle within this upward channel, but it doesn’t feel like one of those which reach its ultimate target

📍With the CME Futures expiration around the corner we are to see a pretty interesting market action. Be cautious

BTC Update

📉There we go! BTC dumped by more than $600 like we expected

As we said in previous update, the bias was bearish and now you see why

📌 CME Gaps to keep in mind

The lower gap is likely to be filled soon

BTC 4h update

BTC is facing a tough resistance: MA50 + EMA100
We need to break above those MAs and then the target would be EMA200 (which currently sitting at 7k)

💡RSI keeps being rejected by the declining trendline, but soon the resistance will be broken. Watch the RSI closely, it may break out first

🎯 CME Gap got filled like we expected

BTC 4h Update

RSI broke above the resistance

The price has found support at the MA50 and EMA100 that are forming a pretty decent support cluster. Looks like the price is ready to go up to EMA200 (everting will turn around if we break back below these MAs)

BTC 4h update

RSI got rejected by the declining trendline once again

We returned back below the MA50 and EMA100 and nearing the next support zone - mid line of the channel. If it doesn’t hold, next stops would be 5900 and low 5ks (the bottom of the channel)

BTC 4h update

RSI clearly broke out📈

The mid line of the channel mentioned in previous update held the price. We pretty confidently broke above MA50 & EMA100 and now we are building some sort of a small bull flag formation

🎯EMA200 remains the main target, but now we can put 7.5k (the top of the channel) on the table

BTC 4h Update

🎯 EMA200 (our main target) was hit and we almost reached the top of the channel. Exactly like we expected