BITCOIN - Time To Buy Alts Thanks To APE 🚀🚀🚀

So I did say in the previous thread that I would like to wait and see what BTC is doing, however I now think alts - specifically APE is a leading indicator for a BTC bounce here:

Notice the nice descending channel in the end before the breakout.

The trouble is with crypto is its so noisy that it is very hard to pick up a channel like that in the moment as potentially bullish.

But now with APE hitting 14% up recently today and passing the 4H50 and 4H200 MAs it is clearly bullish.

For those that have been following you will know that buying alts quickly at the June low worked very well. Waiting would have lost profit.

And so now with APE popping I think the same will be true again.

And there may be some surprises ahead and if indexes fill the gap then BTC may rock a bit... But when a big move happens, those gaps tend not to fill. They are smart money gaps where the big boys dont let you get near their entry.

So we'll see whether this will be one.

Also, although BTC is a 24 hour market, that pump came very suddenly and so could also be a smart money move. If it is then BTC won't go much lower from here. But we'll have to see whether it is or not in the week.

One more thing, I got my witching date confused with LEAP expiry and so the triple witching is next Friday. I have take a bit of a risk entering before that, but I'm just going on what the chart is telling me and hopefully I'll be proven right.

...

Ok so to the BTC chart...

In my experience trading so far, especially when looking at for want of a better word - "macro," a psychological error arrives when after various market twists and turns, the thing you were initially looking for eludes you.

And that is no coincidence, the markets are there to fool you and keep you guessing.

So anyhow BTC potentially is printing a Wyckoff accumulation just as I suggested a while back and also has bounced well from the blue band just as i said a while back.

The recent low is very possibly the second fear test - "ST."

And now after a very long corrective "AR" into ST i think we may be very quickly arriving at SOS.

You can look up the deeper context of these events online if you're new to Wyckoff.


And BTC tends not to do the first schematic "Spring" - and this is because it is more bullish in accumulation than stocks / FX.

...

So I bought APE last time around but since its taking the lead here I wont this time.

I'm keeping it a little simpler this time around and buying;-

ETH UNI KDA XPR GAFI

I'm buying these based on previous performance and position.

ETH is a runner but other than that the other 4 are all at key areas of support / fib.

I'll post their individual charts later.

Not advice.

הערה:

LIKE / COMMENT - You know the drill 😸.

הערה:

Good chance that BTC gets back to re-test the blue band again and if it does i'll look again to add more and then i'll be done.

הערה:

Ok so lets take a look at some alts and btw if alts are your thing you should always check my BTC pages for alt updates I may not have time to both update and make individual threads.

TOTAL2 has bounced precisely on support and also at the 0.5 retracement fib which is a good sign for continuing uptrend.

On the 4 hour chart, 3 lows with bullish divergence are also positive for movement upward.

And there will probably also be a 4H bullish cross arriving soon with TOTAL2 hugging the 200MA. It may rock back who knows really, but it is positive for the overall trend and contribution to new highs.

...

Now the duck out of line here for alts is BTC.D which is rebounding had off support.

But comparing BTC BTC.D and TOTAL2 what I think has happened is BTC has become impulsive in a hurry whereas TOTAL2 is going through a re-accumulation reversal and is not yet impulsive with many alts still not doing much.

But although BTC.D is a chart to be cautious of currently, I dont think this is necessarily a bad sign and it could be just a matter of flow between BTC and alts.

...

Ok so alts:

So I have gone for quite a rank spread of alts as you will see.

ETH (Rank #2) is very similar to TOTAL2 and although I didn't buy it in the previous alt phase i've picked it now since it has been moving up well recently and also because it is high rank. Bounced well of 0.5, bullish cross coming up soon.

UNI (Rank #19) is a bit more impulsive. This coin I hold the most of compared to the others and the reason is that it tends to lead the charge in early phases and then go back to sleep in later phases. Well this is an early phase i think and its up 6% today.

I previously bought UNI below $4 and sold above $9 - on record.

KDA (Rank #109) appears to be in a long accumulation here within the blue fib band that I highlighted as a potential reversal zone back in June. Well its still there and all this sideways movement as well as the bump up to $2.5 is building upside cause pressure). Its lower rank and a bit more risky but the fibs are tight and so is the accumulation. If BTC can actually go places this time then I think KDA is going to go bananas!

Previous alt phase I bought KDA exactly the same place at the 1:1 fib as I have done again here. Sold on the bump breakdown.

...

XPR (Rank #416) is similar to KDA in chart position but its much lower rank and higher volatility. As well as having tight fibs and solid accumulation (it would appear) I have picked this on past performance. In the recent alt phase it has a gigantic pump up to 3.618 which I didnt take advantage of since BTC was weak I sold this at the 1.618 but its right back where I bought at before and up 12% since purchase yesterday. This is evidence again of why it can be good to get into alts early as soon as there is a green flag as you see it. This one can go wild i think.

Lastly GAFI (Rank #792) similar to KDA and XPR its no surprise because I have been looking for the same setup only with different ranks and volatilities and being down at 792 GAFI can be a real wild one.

This one hasn't broken out yet and appears to in another tight price band that could lead to a big breakout.

If BTC is actually getting towards the latter stages of an accumulation then i think some of these coins will do big multipliers, especially the lower rank.

Remember this is not advice and so you need to do your own DD. But these are my picks.

הערה:

If (after your own DD) you take my picks but dont leave a "Boost" really what are you doing 🤔. Everyone likes to write there own reviews but this is potentially golden info i'm dropping for free here .

הערה:

Look at the bullish divergence coming in on the weekly.

I think a good bounce is probably on and this will mean a bullish few months for crypto and also stocks.

הערה:

Look at the bullish divergence coming in on the weekly.

I think a good bounce is probably on and this will mean a bullish few months for crypto and also stocks.

הערה:

There may be a pull back (there's always a pull back) but stock indexes are looking very bullish right now and this is of course good for the probability of a crypto bounce.

I'll wait till after triple witching before I consider any more entries.

הערה:

Well its a multi-market mega dump today.

Do you remember how I said the 4H50MA SPX was important. Well it has dumped right there.

Obviously I didnt expect a mega dump and was actually becoming bullish, but as a manual trader this are the ups and downs you have to deal with as there is nothing you can do about a flash dump.

Will see how this develops.

Interestingly the lowest rank coin that i bought GAFI is completely unaffected by this move.

הערה:

Ok so indexes are continuing down so it looks the the gap may be a pro gap and not one to be filled.

It was always a critical point of potential inflection on the chart and this is most likely the big boys getting in short in prime position.

And at moments like this its best just to GTFO the way.

Staggering out here until this settles down. Currently this is crash mode and i dont want to be long anything.

Cut losses.

הערה:

Can you see the previous pro gap on the chart. That also looks like it will not be filled and it is where smart money force the trend down. They dont want their entries challenged.

הערה:

Of course the inflation news is timed perfectly with these points of potential inflection.

Thats not a coincidence.

הערה:

For now i'm not going to sell my GAFI as i have noticed some of these coins pump on collapses such as STG and BRISE. Perhaps GAFI will do the same.

Other than that i'm 100% short again.

הערה:

I'll be keeping a close eye on crypto. My gut says its still a 50/50 for a hard bounce soon. Perhaps BTC will re-test 2017 top and provide a good entry.

הערה:

Quite a rainy day today huh 😄⛈️.

Stay tuned because the crypto bounce may come fast when it comes, but rn indexes looking very bearish.

הערה:

Ok so just to share a window, this is SPX currently.

Now i've said that dotted line is important from long time ago and there will probably be at least a small bounce in this area.

And it has to be noticed that crypto is really looking to push up whenever indexes pause.

So this is actually a potential buy point right here.

And this may work for a very aggressive trader

But its too aggressive for me. That is an enormous bearish candle and i dont want to stand in front of it.

That said I am holding XPR which hasnt lost anything since the initial dump and also GAFI is in the green today.

The problem is that a chart can show strength and then suddenly capitulate and this is something BTC and crypto does at times.

Its just easier for me to hold shorts for now.

הערה:

Wicked into the retracement band.