In this chart we have the famous CME gap in the $9000 area. Price seem to have gone there but didn't fill it up entirely so we're still left with a gap there.

This CME gap can be found between $9,660 to $9850. This area is also a very strong support on the weekly and daily time frame.

https://www.tradingview.com/x/2gCcfSY6/

Lastly is this CME gap which can be found on the 45 minutes chart formed on the 17th of February 2019. That's about 17 months ago.

Many people don't know about this CME gap because we rallied so hard in 2019 that many didn't bother to pay attention. You may be thinking it's impossible to drop that low at this point but March of this year (2020), during the Coronavirus early days, we say price dip to as low as $3590 on Bitmex.

That should tell you it's not impossible for price to do the same thing again, especially if we enter a bearish season where all bounces are dead cat bounces.

Is it possible for us to never hit that low, yes it is but as a trader you look at the charts and consider all possibilities. Don't be attached to one direction alone, when the chart says up, then trade up, when it says down, then trade down.

Be cautious!

We're shorting between $11400 - $11600

https://www.tradingview.com/x/ptcBnTWF/

At the beginning is MicroStrategy and then we see it on Square. These are the 2 Financial technology giant company. What's next? Crypto is here to stay!

https://www.newsbtc.com/analysis/btc/tyler-winklevoss-a-tsunami-of-capital-is-coming-for-bitcoin/

Some OnePoint TA to start the day

https://www.tradingview.com/x/P287352P/

Bitcoin : Short term perspective, EW and the Golden pocket

The only reason I see why the price hasn't continued its uptrend moves yet is because we see a huge resistance zone slightly above current region where the price is trending now. This is the logical zone where every day traders need to anticipate. Golden pocket zone however will bring a huge effect in short term and a must watch zone for most of the day traders. As the day traders, we must respect this zone and not to hurry to enter a long position at this condition. However, I still see a huge momentum from the bulls to stack more and more long position at this correction.

All the price action has showed us that the price is respecting this golden pocket zone as a strong resistance. It's proven with the consolidation moves which forms a triangle pattern slightly below this range. I don't see any possible movement for further drop below this triangle for short term. All you can see is at the EW count which I've labelled on the chart shared. Based on the chart, we can see a possible upside moves to challenge more at the interim swing high on possible end of wave 3 in short term. For middle term, I still see possible more upside moves as an action to complete wave 5 at around $13000 or potentially extended at the $14000.

From the perspective of the news and crypto adoption, I see a good news which said that 2 huge company which is moving in the fintech business line, Square and MicroStrategy has entered the market of cryptocurrency is showing us that the belief level in crypto market in general has been growing in the last few months. It's a good news for crypto. I don't usually use the news to analyze the price movement in the future but when the news and the technical output moves in the same line, there will be a good type of analysis and it's rarely to be a false signal.

My next long position for averaging purpose is when the price is able to break out from current resistance trend line of the triangle on lower degree.

Our friends at Golden Ratio have differant thoughts

Altcoin Index Update :

This time, I won't cover about bitcoin because I've already shared my bias on yesterday's post and the price hasn't moved significantly since yesterday. I'll cover the Altcoin index which represents most of the altcoins' movement in the future.

Altcoin index is now testing the red region which is becoming the strong area of resistance which became a broken support at previous stage. With this testing to the horizontal resistance zone since the price has its floor at the white support trend line, we can conclude that the price is gaining some momentum from bulls perspective. This is however holding strong my previous bias on altcoins themselves which I've already covered on the latest post about altcoin index.

If the price can break out of this red horizontal zone, there will be a potential upward movement for most of altcoins especially for those who have a positive correlation with bitcoin. I see XRP, ETH and LTC will be the leading in altcoin's market for this potential upward moves.

At the last one month, there are huge volume entering the crypto market which I do believe this is an inflow from the outsider which is the newly investors joining the part of crypto universe. This is a good thing and it has given a indirect effect to the movement of altcoins.

Ethereum finding itself at daily resistance too. Also saw a good rejection here. A good idea to be loading up shorts because that's what we're doing.

For ETH, we're looking at price stalling a bit at $356 before continuing lower in the very short term.

Always looks at the bigger picture. ETH is looking at a potential drop of about -45%

https://www.tradingview.com/x/0xJT3Uup/

Lastly one of our favorite is LTC. It kinda always points the direction where price for other majors may be heading.

Not only that, we start entering short at $51 resistance after seeing the rising wedge.

https://www.tradingview.com/x/lPf9Saf3/

Our Daily rising channel for BTC is still intact. Price touched the mid-line and dumped over $200 instantly. We believe the top may be officially in we begin the journey to as low as $8500.

All our shorts have been filled between $10400 and $10600 with most being filled at $10600 range. We don't expect price to push high any further.

Our stop loss is exactly at $12000. Almost every major asset is at resistance and we've entered shorts for some of them.

All of them are still under resistance and haven't made any new highs, we're still making lower highs on high time frames.

In the very short term, we're looking at price stalling a bit at $10960 before dropping lower.

https://www.tradingview.com/x/JagXfofq/

YFI usually work similar to YFII in terms of price action. Interesting pick.

Just a reminder, look at the TFs of charts I post. The shorts I've posted of LTC, ETH and BTC are on mid term. So you can put them on say 5x and forget about them. The YFI is an hourly chart so I expect it to move in the next 4 to 6 hours.

Looks like the Bitcoin scenario is starting to play. Eyes on $10980. Hold tight stops if you have any long position open. Same with shorts. Welcome to crypto.🖤

My current positions

Tight stops helped out. We'll grab the next one

OnePoint has some thoughts

https://www.tradingview.com/x/WgnzJDFG/

The nature of sub wave 3 of wave 3

This is a view from the lower time frame on bitcoin. After the price touched the $11720 range, we see a strong and hard rejection since the price tested this region of resistance. However, I think that this action is a normal action that show us about the healthy market structure. A war between the bulls and the bears, a lot of traps, and a high volatility has shown us that this market is going to be very exciting.

If you see my previous post about the EW count on the higher degree, you can see that at current market the price is forming the potential 3rd wave on minuette level. It's very hard to argue that it's not the wave 3 because of the size of the green candle. At a super bullish market cycle, there will be a lot of huge green candle occur to mark it as the wave 3 which usually is the longest wave comparing with 1st and 5th wave.

The other factor that you can see is at the RSI on this 1 hour time frame. We see a lower high structure which is negatively correlated with the price which forms a higher high structure. Similar action is occurring on another oscillator indicator which is the MACD. There is a lower high structure as well on both histogram and the MA line.

However, this is a normal type of correction as the price is performing a weaker bullish momentum. But, this won't happen for a long time because there are still 2 strong supports occurring on this structure. The zone of .382 and the golden pocket zone. We might see at those 2 levels of potential future bounce. For now, being idle is very suggested in the market

Seems like CRV is really trying but still stuck under the downtrend line. Is CRV going to be one of those 2017 ICO projects that kept dumping "forever"?

Time will tell!

https://www.tradingview.com/x/itFhbDyK/

First things first I want to talk about the election. History explains that recession hit economy usually brings in a new President. again the fact that a sitting president claims his second term is highly unlikely. The market shows its bias towards Donald Trump not getting elected for a second term. Yet I am extremely sceptical on the policies Joe Biden bring in to strengthen the economy. This is a very crucial factor because numerous countries have injected billions of dollars in stimulus packages. Consider India in the present week the government has promised a 10 billion dollar stimulus package similarly we saw that the you proposes 750 billion Euro stimulus package. This all indicates towards a strong gold and silver. People usually run toward hard currencies in times of uncertainty. even if the stock market recovers the possibility of Donald Trump getting reelected is slim. I expect extremely high volatility in the next 20 days. It is best to change aaj to a relatively stable currency if you come from a country where the currency is likely to get the value. Bitcoin still sees a possible scenario of touching 10900 dollars. The earlier charts of long term short positions are bound to play in by the time the election commences.

Could thoughts from Alberto

https://www.tradingview.com/x/mJmG2GHf/

All about bitcoin in the intra day chart. It forms once again a consolidation pattern in lower time frame. I've seen several wicks toward the upside as the rejection toward the shadow resistance at above region. At the latest push, we've also seen a push toward the $11550 region but like what we always anticipated lately, it's getting rejected again and again with only long wick produced at this latest moves. I still see a potential test toward the blue zone as a strong support in the short term before potential push once again to test the white region as interim swing high.

What's the date?
If you know you surely have been listening to the audios and reading my posts.

As expected