BTC - The Launch Pad Is Being Set, Don't Miss It!
מעודכן
Looking at the Bitcoin weekly chart we see a beautiful picture that shows lots of opportunities ahead for the crypto market. BTC has broken out from the downtrend line that has held the price down for 3 years now. We have what looks to be a confirmed breakout from the large symmetrical triangle that has been forming. BTC is sitting on the 21EMA, and the 50EMA is right below it. So far things are playing out nicely, and I believe this push down is just a retest before we see some big moves in the coming months.
We have many bears calling for a large flash crash or dump, all the while, Bitcoin is setting a launchpad for the parabolic future ahead. I believe many traders were burned in the bear market and have formed strong trading fears because of that. From a technical perspective, we have seen higher highs, and higher lows consistently for many months now. So the behavior of the market has changed. Also, keep in mind the growth of stable coins across the board has continued to rise at a rapid rate of 3x over this year alone. We also notice Bitcoin has created its first higher high on the monthly chart since 2017 and managed to close above the 10.8k monthly resistance. We have many altcoins making new all-time highs and breaking massive resistance levels that have been set in place since 2017. Clearly the market behavior has changed right under everyone's noses and very few can see the forrest between the trees. We have more hedge funds, billionaires, and large entities cheering for Bitcoin, while accumulating then we've ever seen before. We have a new Comptroller of the currency with a crypto-based background that is making strong strides for a digital dollar in the near future, we have banks officially allowed to provide custodial services for crypto assets, we see the defi space has been exploding, we have more regulation in place than ever before, and new companies everyday adopting blockchain technology. There are many, many reasons to be bullish on the crypto markets from a technical and fundamental perspective IMO, I've only listed a few.
We have people calling for a close of the CME gap, its possible, but I see that as a great way to set up a bear trap/short squeeze since many are saying the gap HAS to close, nothing HAS to happen... In fact, often times the opposite of the crowd's expectations happen in these types of situations. I'll be patiently waiting for the market to reveal its hand. Be aware, this does not mean the market will not push down further before making a large thrust up. It's possible we see a test of the yearly pivot around $8,000 before seeing a large bounce. However, I see that as the less likely scenario, but we'll see how the market plays out over the coming months.
Please keep in mind, not only has the chart turned bullish for bitcoin via making higher highs and lower lows, BUT we also see the fundamentals have completely shifted for the crypto market. If the chart looked identical, but it was 2018/2019 and we did not have the FED deploying mass quantitative easing, I would agree that the crypto market might not be ready for parabolic growth yet. However, this is not the case. The financial markets have had a major shakeup since the event in March, this has caused many markets to awaken from their slumbers like Gold, Silver, and some currencies. In a world where many banks, airlines, and other large corporations are facing strong financial hurdles requiring loans from the government, we will see a behavioral shift across markets as a result. Since March the dollar has continued to lose its strength, devaluing for months now. The FED has announced they will do whatever it takes to keep the "economy" afloat, but we know that really means the financial markets via mass money printing, which will cause the dollar to continue to devalue over time. The FED also announced they will allow inflation to rise so they can continue to stimulate the economy, for all these reasons, and many more, I believe the crypto markets along with the Gold & Silver will slowly rise as these events continue to unfold.
Stay safe, stay level headed, and keep looking forward.
We have many bears calling for a large flash crash or dump, all the while, Bitcoin is setting a launchpad for the parabolic future ahead. I believe many traders were burned in the bear market and have formed strong trading fears because of that. From a technical perspective, we have seen higher highs, and higher lows consistently for many months now. So the behavior of the market has changed. Also, keep in mind the growth of stable coins across the board has continued to rise at a rapid rate of 3x over this year alone. We also notice Bitcoin has created its first higher high on the monthly chart since 2017 and managed to close above the 10.8k monthly resistance. We have many altcoins making new all-time highs and breaking massive resistance levels that have been set in place since 2017. Clearly the market behavior has changed right under everyone's noses and very few can see the forrest between the trees. We have more hedge funds, billionaires, and large entities cheering for Bitcoin, while accumulating then we've ever seen before. We have a new Comptroller of the currency with a crypto-based background that is making strong strides for a digital dollar in the near future, we have banks officially allowed to provide custodial services for crypto assets, we see the defi space has been exploding, we have more regulation in place than ever before, and new companies everyday adopting blockchain technology. There are many, many reasons to be bullish on the crypto markets from a technical and fundamental perspective IMO, I've only listed a few.
We have people calling for a close of the CME gap, its possible, but I see that as a great way to set up a bear trap/short squeeze since many are saying the gap HAS to close, nothing HAS to happen... In fact, often times the opposite of the crowd's expectations happen in these types of situations. I'll be patiently waiting for the market to reveal its hand. Be aware, this does not mean the market will not push down further before making a large thrust up. It's possible we see a test of the yearly pivot around $8,000 before seeing a large bounce. However, I see that as the less likely scenario, but we'll see how the market plays out over the coming months.
Please keep in mind, not only has the chart turned bullish for bitcoin via making higher highs and lower lows, BUT we also see the fundamentals have completely shifted for the crypto market. If the chart looked identical, but it was 2018/2019 and we did not have the FED deploying mass quantitative easing, I would agree that the crypto market might not be ready for parabolic growth yet. However, this is not the case. The financial markets have had a major shakeup since the event in March, this has caused many markets to awaken from their slumbers like Gold, Silver, and some currencies. In a world where many banks, airlines, and other large corporations are facing strong financial hurdles requiring loans from the government, we will see a behavioral shift across markets as a result. Since March the dollar has continued to lose its strength, devaluing for months now. The FED has announced they will do whatever it takes to keep the "economy" afloat, but we know that really means the financial markets via mass money printing, which will cause the dollar to continue to devalue over time. The FED also announced they will allow inflation to rise so they can continue to stimulate the economy, for all these reasons, and many more, I believe the crypto markets along with the Gold & Silver will slowly rise as these events continue to unfold.
Stay safe, stay level headed, and keep looking forward.
הערה
Another idea I'm considering.הערה
Looks like Bitcoin has found a base and is now making a push higher. Overall, I would like to see a weekly close above 
12K to confirm this rally and potentially higher prices by the end of the year.הערה
Got our weekly close above 13k... The coming weeks/months shall be very interesting.הערה
Another great weekly close, this time above the R2 yearly pivot. I do not doubt we see a decent pullback at some point soon however, I'm still not ruling out a test of the R3 in the coming weeks/monthsהערה
So far Bitcoin has been holding strong, but as I mentioned earlier it's possible we see a correction around this price point. "IF" we do see a correction, we look toward to 12K - 
13K region for support. However, if we see another weekly close above this resistance zone, we likely see BTC challenge the R3 pivot.הערה
Looks like Bitcoin decided to take the pump route. Let's see if it test the R3 target.הערה
Target nailed with precision. The chances of Bitcoin taking a rest or seeing a correction have dramatically increased here, but I would not be looking to take a short in this bull phase. We wait patiently to see what the next move will be.הערה
Bitcoin continues to push higher and punish all the Bitcoin bears. We've now reached the standard yearly R3 pivot. This is truly no man's land now, and we don't know exactly where the price will start a correction. I would suspect 24k - 
25K, but the market will correct when it's ready.עסקה סגורה: היעד הושג
I would just like to leave an update on this trade, so far things have gone exceptionally well and I hope many were set up to ride the Bitcoin wave. I received a lot of pushback for this chart/opinion and it goes to show, taking a contrarian view in times of uncertainty can be very profitable. FYI, I think Bitcoin has more upside tricks in its bag, just need to be patient.Once again, Stay safe, stay level-headed, and keep looking forward.
הערה
I'm updating this chart, I believe the "Launch Pad" is being set again. Please click the updated chart below to see the new analysis.
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