​BTC 4h

Let’s get back to this old channel
The price is still respecting its boundaries as well as the Mid line

We see that horizontal Support/Resistance level held the price from falling, however we got a couple of long wicks below right into EMA200 and saw a great reaction off of it

💡Right now the price is struggling to break above the resistance - Mid line of the channel & EMA50
Break above and we’ll likely start filling the CME Gap

Let’s zoom in

There’s a pretty decent ascending triangle on 1h. The top of the triangle is perfectly in line with the EMA50 on 4h

Trade a breakout 📈📉

There we go 🚀

BTC broke out as expected!

🎯 Target Reached!

Congratulations!

CME Gap got filled!

BTC update

📌Quote from the idea description: "Next time we approach 10k (the top of the triangle), we are going to break it"

We never crossed the 10k mark again after that, so the bullish case wasn't activated

On the contrary, we broke down the critical support (red line) on a $500 dollar candle, re-tested it and BTC dumped really hard after that

The price wicked down in the vicinity of EMA200 for the 3rd time. For another 1k leg down we need to renew the lows, or in other words, to break EMA200

Possible area of rejection is ~9.4k - horizontal level + EMA50

BTC 4h update

Resistance keeps rejecting the price as expected

Until 9.4k level is regained, the target is EMA200

🎯 Target (EMA200) successfully reached after a rejection at the resistance zone!

Everything went perfectly according to the plan

BTC is breaking out of a Falling Wedge

🎯 Target would be 9.4k region where we can get rejected once again

🎯 BTC Falling Wedge target reached!

BTC is approaching the apex of this giant pennant

Local top might be in since we hit the resistance and until 9.6k is regained, the short term bias is bearish

CME BTC Futures (BTCK20) expiring in 2 hours!

📍These are the Half Yearly Futures and they were launched on Dec. 16

Expecting some high volatility (right at the expiration time or on Monday) since the price of Bitcoin is in the apex of the giant pennant

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🚀 BTC broke out to the upside as expected!

BTC long trade got activated at the breaking above that green line

8% profit (without leverage) from the breakout level!

⚠️But look at the BitMEX Funding rate! It’s dangerously high for the bulls

📉And here is why I said that BitMEX Funding rate was dangerously high for the bulls - BTC crashed by $1k within a single hourly candle!

​BTC 4h

Watch this Head and Shoulders pattern

If we break the neckline, the first target would be 9.2k-9.3k (EMA200 + Bottom of the Channel)

If we break that support, look for mid 8ks - full pattern target

QSP vs ADA

Recently ADA made a huge upswing after a decent accumulation in a sideways range. QSP has been doing almost the same with one difference - it hasn’t broken out of the consolidation range yet

📌Does it have to pump exactly like ADA? No, but but this is definitely something to pay close attention in order not to miss it