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Plan is on and #BTCā Ā should be creating this Inverse H&S within next 15 days (+-5). That will be the 4th strike and most likely BTC will breakout from there to reach a new ATH. Since the RS is not deep so I am presuming that a breakout should happen on 4th strike.
What will happen post ATH? A bearish divergence most likely and a correction post mid July or somewhere close to Aug. We will see the $1B liquidation drive then. Our plan is to exit before that.
I will update you as and when the chart develops but this is what is currently running in my head. Mind you BTC Macd on weekly had a bearish cross over 2 weeks back and would require 2months to cool down. If we see the liquidation drive post mid July then BTC is expected to remain bearish for Aug-Sep. Nothing to worry Q4 would be funš
ā¼ļøBreakout on 4th or 5th strike would depend how deep $BTC falls down. If it keeps consolidating here above $65k then I expect a breakout on 4th strike. Anything below that means it would require 2 more strikes to b.o.
Bearish scenario for now is not in the picture with ETH ETF also in the queue I think we will have 1.5 to 2months of decent run/consolidation in both BTC and selective ALTs
Reminder : Keep booking profits on your positions regularly, market takes 1 day to wipe off all profit you made in 3months
š³ As bitcoin ranges tightly between $61K and $64K, large whales have made some accumulation moves over the past 24 hours. Wallets with 1K-10K $BTC have collectively accumulated ~$941M worth of coins, rebounding to their highest holding level in 2 weeks.
Slight chance BTC recovers from here if we dont see any dump in the next 12H. After daily closing we will have a clearer picture but if BTC holds $62k as I mentioned a while back then we are good to Long.
Still waiting for the weekly close above $65k. The price needs to hold above this region for good amount of time in order to see the bullish uptrend. On weekly #BTCĀ is still bearish as we have a MACD crossdown on it, it would still take 2 months to cool down.
#BTCš„š„š„š„š„ is making a bookish Inverse H&S on 4H. If the price breaks through 65k region then the target would be $71k. 65k is the area we will flip bullish.
Market Dynamics and Investment Flow: Traditional investment flow from Bitcoin to altcoins has been disrupted.ETFs are absorbing Bitcoin, limiting its availability for altcoin investment.High interest rates have reduced the āeasy moneyā previously fueling investments. Economic Factors Influencing Crypto: Central banksā responses to COVID-19-induced money printing have led to high interest rates.The Federal Reserveās liquidity provisions to banks may counteract high interest ratesā effects.Despite
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#Bitcoin halving has passed, what's next for #Altcoins?
The biggest event for Bitcoin has passed. Two events. The Spot ETF and the halving. Altcoins have dropped by more than sixty percent in three months time. What's next? It's time to discuss some important topics. First of all: the markets are not in a bear market, but it depends on the narrative that you're looking at the markets. If you're looking at USD values, then you can conclude that the markets aren't in a bear market as we've been running up substantially. However, when you're changing yo
š² 59k - š² 58k is major support for #BTCšŖļø. After #bitcoinhalving event there is a obvious selling pressure from the miners because of after each halving minerās reward goes half.
While the electricity cost and maintenance cost remains same so that to cover this expenses miners had to sell their accumulated btc for upcoming 3-6months.
Miners also know that after the bitcoin halving btc price will shoot up definately so that they will not sell all of their mined bitcoin rather sell some portion of it.
Meanwhile Runes and brc20 tokens are so popular these days which results more transactions on bitcoin network which increases the more txn to mine for miners.
More mining generate more btc for miners.
Ultimately Runes and brc20 txn are covering the sell of by the miners but we estimate that miners will sell less before previous halving due to this reasons.
Whereas Technicals says Different story
Monthly chart MACD both lines are spread more and tend to fall to middle line in 2-4 months.
Meanwhile StochRSI already started to falling that indicates the little bearishness for the short time.