I have created my own indicator based on accumulation/distribution concept which helps me to be ahead of other traders and predict tmarket movement precisely
As you can see similar multi timeframes analysis as I posted for BTC, SOL rose when volume "red line" crossed above price "blue line" and dropped once volume cross under price
Excatly as I posed on June 18 & 19 when I said BTC will clear 66000 but before it will clrear this level it might drop for further accumulation, now I can see bullish order blocks on 1 & 2 & 4 hours charts at 64700
Now what you think about the second half of my prediction? do you believe BTC will drop from 66500/67400 or rally will contiue ?
Now as I posted few hours back BTC started to show some momentum on lower timeframes
I hope it is not just a retracement to test 65500/66000 and drops once again since this would be very bad sign, 64000 might not hold and price would drop to 61000
On the positive side ,for the first time in the last few days I see bullish order block on 30min chart at 64500, so it is not bad sign if BTC drops to this level for further accumulation before it tries to clear 66000
I know it might be too early to talk about reversal and rally, however I tend to believe BTC might clear 66000 and rise to 66500/67400, most probably it might fail to clear this level and drop once again, hopefully in the next cycle BTC will get more strength
Let us wait and see !
#bitcoin☀️ #Bitcoin❗ #BTC☀ #btcupdates2024
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ElCamino
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Is it reversal signal for $BTC ?
I don't need to get over excited but this is a good signal
As I posted before I buy when I get bullish volume divergence and sell when I get bearish volume divergence
I hope we see somthing similar not on the 30 min chart but on higher timeframe
if we didn't see buy pressure to defend current level, 64500 might not hold and price might drop to 62200 / 60200
on the positive side, on lower timeframes I see bullish volume divergence, if it would work BTC would rise to 66/67 and could be a sign of early reversal signal
I hope traders would paid attention when I warned on June 12th about $BTC testing 70 as this was the key level for bullish or bearish sentiment !
#bitcoin☀️ #Bitcoin❗ #BTC☀ #btcupdates2024
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ElCamino
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Is $BTC bullish or bearish ?
Watch carefully 70100, this is the level will determine whether BTC is bullish or bearish
Let me explain how my indicator works
if my indicator gives me signal on certain level, it has 2 meanings whether it will be tested and drop once again or it is accumulation level and below that level is a bear trap
Now have a look to the 15min chart where I got signal on 67300 which is confirmed as of now, while 4 hours gave me a signal on 70100 which I am waiting for
Are you surprised with $BTC rise and drop? I am not !
I posted today 2 important posts
First was about the rise to 70 with 2 possible scenarios retest and drop or huge rally ahead and second was about low volume on higher timeframes
But before we deep dive in the analysis, why I got signal on 70 , simply because there was a surge in volume cause volume to diverge with price
How to know if the surge in volume was buy or sell is tricky question, simply by the pattern follows the drop
If market start to accumulate heavily on 66 then price would rise and break 70 and even 74, here my second post comes in place when I posted there is low volume on higher timeframes which means market isn’t ready for the rally yet and I hoped if the market would drop for further accumulation to get more strength, however whales decided to drive the price up without accumulation which made believe they are still distributing and they need to sell as much as they can on 70 level to maximize their profit
Unfortunately people don’t like fact and analysis, when I wrote simple post about possible future rally I got 48k views and when I stated important facts people just ignore
Watch carefully 70100, this is the level will determine whether BTC is bullish or bearish
Let me explain how my indicator works
if my indicator gives me signal on certain level, it has 2 meanings whether it will be tested and drop once again or it is accumulation level and below that level is a bear trap
Now have a look to the 15min chart where I got signal on 67300 which is confirmed as of now, while 4 hours gave me a signal on 70100 which I am waiting for
As you can see on 15 min chart, BTC started to rise yesterday when volume "red line" crossed above price "blue line"
Then at 67200 volume got weaken and drop below price, so price had to drop 2 times to the same price level till volume crossed above the price once again, then price can rise
My indicator always works in this way, I am waiting to see the same is happening on higher timeframes
XRP has the most manipulated accumulation curve I have ever seen in any coin even BTC
Whales are just keep accumulating from last year without any significant rise
When whales will stop accumulating and drive the price up unless they have a different plan to just keep accumulating more and more at 0.4 & 0.5, then price will rally more than any one could possibly think
Although I am intraday trader and I don't use 12 hour chart so much, below chart made me optimistic on BTC , since this is the first time since May 1st volume crosses price on 12 hour chart
cross happened at 70200, what doesn it mean ?
Based on my experience with my indicator there are 2 scenarios whether this is the level to be tested once BTC starts to rise or this is where a bullish order block to be placed and whatever drop below this level is 100% bear trap
It is so simple because volume is stronger than price on the 1 hour chart, then you can buy the dip and you are 100% sure there is a rise However you need to bear in mind this rise could be just retracement, that's why you have to wait for confirmation on higher timeframes like 8 and 12 hours