Diupdate

New ATH to trap bulls? $71-72k

Simple chart, will this play out and trap bulls?

Not financial advice, DYOR.

Catatan

The key area to look at is the 64.8k area, as the PA will be drawn there like a magnet, this is bulls last stand, to get back into the bullish channel. If this key area acts as a support, I would expect new ATH, and a continuation. However if this breaks, more downside is expected.

Catatan

As PA is developing more, the picture is becoming more clearer. I will be releasing a new chart, showing a more clearer view of what I'm seeing and from my calculation, of what could be the bottom! Will also post a similar view point on SOLUSD.

Catatan

What am I seeing? BTC to possible go as high as 72.3k, big momentum.

What now? Waiting for retest of 65.2k, if this holds (if we hit new ATH at 72k, or higher, which is even more bullish!) I'm expecting this to hold. I want to see 72k+, to see this play this out.

What then? If 65.2k holds with daily closes, expect explosive PA to upside, wont be surprised to see 15K - 20K candles.

What if? If 65.2k fails, I would expect 56k would be the bottom, for again, a blast to the upside

Catatan

What am I seeing? Bulls need to push higher if they would like to see astronomical ATH this month. They are losing the momentum and they need some good news (Fed BTFP) this week to pick up a boost.

What next? Continue to monitor, look at the support I mentioned. If bulls can't push towards 72k+ by next week. I will lean towards a bigger correction, and lower the bottom to 52.6k, give or take $500.

Catatan

I would also like to add, I see this PA as part of a bigger consolidation that could last towards the end of this month - YAY more sideways, but also more upside 10k candles when the time comes!

70k is a lot tougher than what most people think, with all this resistance and later flipping to support in the future, could this be our next cycle bottom?

Catatan

What am I seeing? A possible test of 65.2k by next week.

Whats next? Bulls must hold this line and push up, and get back above 66.3k.

What if? if 66.3k is broken it is going further down. Currently a 80% chance looking at the PA now, unless by some miracle the bulls slowly creep towards 73k.

Catatan

As the PA develops so does my targets. I have lowered the target from the above, as it is not looking good for the bulls.

What am I seeing? A possible test of 64.8K (lower than the 65.2k) by next week.

Whats next? Bulls must hold this line and push up, and get back above 65.8k (lower than the 66.3k).

What if? if 65.8k is broken it is going further down. Currently a 85% chance looking at the PA now, unless by some miracle the bulls slowly creep towards 73k.

Catatan

What am I seeing? After the pump has subsided, a retest of 66.3k is in the cards.

Whats next? Bulls must hold this line and push up, and get back above 67.2k

What if? if 66.3k is broken it is going further down. Currently a 80% chance looking at the PA now, unless by some miracle the bulls slowly creep towards 73k.

Catatan

What am I seeing? Dump incoming! TP 64.7-64.3. As I mentioned before if the bulls creep to 73k, I would be bullish, it happened today - last minute! 64.7-64.3k is most likely the bottom and we break new ATH.

Whats next? Bulls must hold this line and push up, and get back above 66k

What if? if 66k is broken it is going further down.

Catatan

What am I seeing? Dump to continue. I see a month long distribution phase keeping price sideways till halving.

On chain data had showed 100% holders were in profit, alongside miners being very profitable, caused by the ETF bullish news, causing a see-saw effect. As more people buy because of ETF, the higher the price for it's given time (ATH before the halving), the more people are in profit, thus realising this profit, the cycle continues.

I believe we are in a distribution phase where the sellers will eventually win, we will bottom in the low 50k range to then push to ATH after halving.

Whats next? I believe there is a lot of liquidity in 59.5-60k range to push back up to make another ATH, confusing bears and bulls, shaking them all out. Back down again, to the low 50k's.

Catatan

What am I seeing? BTC to test levels of 60.5k give or take $500. Bulls will find fuel to bounce to re-test as high as SWB:69K, can they hold and regain this space?

Whats next? If Bulls fail to hold above at least for a couple of daily closes, prepare for BIG correction.

What if? If levels mentioned above fail to hold, a great opportunity to pick up BTC at cheap prices before halving - $47.5, give or take $500, and SOL at $70 give or take $5.

Catatan

What am I seeing? Expecting a re-test up to 69k. I'm expecting a lot of bouncing between 64.8k and 69k. Which will give up first? The bulls or the bears. If the bulls can break above and close daily candles, then we will see ATH, with big candles to the upside. If the key area mentioned breaks, 60k will not hold. My bottom target is now re-calculated at 56.5k, which I will be longing from. SOL will correct hard ($67-70) Not financial advice, DYOR. .....the Whale Whisperer

Catatan

Apologies, I meant $86 for SOL potential bottom (I inputed incorrect currency).

Catatan

What am I seeing? BTC to retest around the $61-62k region, once he hit this level again, market makers, will try to trap more bulls, by bouncing back up to the region.

Whats next? Once it fails to break through and find support at 65k. The cascading fall will begin, the whole crypto market will see red. There will be staggering net outlfow of ETF's, compounding this fall.

I'm still eyeing up the 50-53k area as a bottom, with a potential bottom at 51.6k.

Catatan

As PA develops my bottom target, gets more accurate.

My new target: $50,471. Round to the nearest $500 - $50,500.

Catatan

We are on track! This game is all about patience. If you can avoid the BULL and BEAR traps, you are ahead of 95% of traders. Thought I would share something with you all.

We are currently in a massive distribution phase as mentioned before, where holders are taking profits, and will continue to do so, causing a cascading correction, where we will finally bottom, and the accumulation process will start all over again to eventually break ATH and continue with the bull run.

Catatan

I have a buy order at just under 50k (GBP pair). NFA. My price bottom prediction is between 50.6k to 48.8k.

earlyBTCAdopter

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earlyBTCAdopter