Thread by @csidetrader

$BTC finally broke out above the 2020 resistance levels filling the gap from August 2019 and banging into the Yearly R1 which marks the high for 2020 creating a Head and Shoulders pattern with a target around 9500. 10k is the fighting line in the sand. #Bitcoin $BTC #OOTT

$BTC clearly working the 10k level but from above verses below as it did most of 2020. H&S target still below at 9500. #BTC #Bitcoin

$BTC_F traders solidly defended the 10k area and the bottom of the February gap preventing the H&S 9500 target hit. Price is moving to retest the neckline from the underside which in my opinion negates the H&S play as not meeting its target. $BTC #Bitcoin

After multiple tests of the $BTC_F H&S neckline, price gaped higher last night testing the bottom of the filled gap from August 2019. $BTC #Bitcoin

Consolidation of the $BTC_F gap up breakout but with no follow through higher. #$BTC #Bitcoin

Another $BTC_F gap higher and breakout on $PYPL news. $BTC #Bitcoin

$BTC_F continues the breakout headed to test the swing high of 13,195 on June 26th, 2019. One thing I've learned trading #Bitcoin is to never underestimate the cultist nature of the holders. $BTC

*13,915

$BTC_F came close to testing the June 2019 swing high of 13915 and then sold off in another big range day. I'd say that level is strong resistance lol. $BTC #Bitcoin

$BTC_F broke above the June 2019 swing high of 13915 overnight making a new swing high so I'll ask the same question I asked in June 2019... Blow off top ??? Note the strong negative divergence. $BTC #Bitcoin

$BTC_F continues to breakout above the June 2019 swing high replacing #gold as the contested election fear trade. $BTC #Bitcoin #Election2020

Extreme overbought/oversold signals can stay pegged for long periods of time and are not meant as a reversal signal especially with cult following contracts like $BTC_F $BTC #Bitcoin

Blow off top in $BTC_F? You never know until after the fact with this contract. It's the wild west on steroids. Price stopped at the Yearly R2 at 18531. Yearly R1 was strong resistance when price hit back in August. $BTC #Bitcoin

I am not a top caller nor do I get in front of a momentum freight train like $BTC_F but this is looking quite frothy. Just saying... $BTC #Bitcoin

My gut was spot on last week but the weekend bloodbath in $BTC and #CryptoCurrencies turned into a day of nearing the All TIME HIGH in $BTC_F which was the launch day for #Bitcoin futures and the open price and ALL TIME HIGH on 12/18/2017 at 20,650.

$BTC_F just hit the prior ALL TIME HIGH and the opening price for #Bitcoin futures on December 18, 2017 with major negative divergence. $BTC

$BTC_F weekly chart showing the 1st trade date of December 18, 2017. Price closed 2017 at 14470. #Bitcoin $BTC

Every blow off top ends up not being that top with $BTC_F above the opening price of #Bitcoin futures in 2018. Watching that big gap breakout level from 18,020 to 19,155 but over the years, I've learned never to underestimate the will of the #Bitcoin community. $BTC

$BTC_F killing the range on my Daily chart with massive gap ups. The March 2020 low was 4210 with the December high so far at 27,900 for a 562.7% increase low to high. Cray cray for 2020! Will adjust the time frame on my chart accordingly for a better view. #Bitcoin $BTC

Blow off tops don't exist in #Cryptos but did #Bitcoin cure cancer or climate change or invent a new species of tulips? $BTC_F

Blow Off Tops Don't Exist in #Cryptos ...
but did #Bitcoin cure cancer or climate change or invent another species of tulips? $BTC_F

$BTC_F massive red candle stopping at the 20 EMA after how many potential blow off tops? Last time price hit the 20 EMA was February 1st. With #Bitcoin, this may mean nothing but there are 2 open gaps waaaay below.

$BTC_F hitting another All Time High at 58,000 to the tick! #Bitcoin When will @CMEGroup launch an emini $BTC_F contract?

Interesting to see $BTC_F #Bitcoin selling off after the COVID Pork Stimulus Bill © #2 hit checking accounts this weekend. Millennials/Gen Zs said they would invest it stocks & #cryptos. Forget the news from India as you'll always find news somewhere to fit your narrative.

$BTC_F had a series of negative divergences yet price moved from the mid 40ks to the 60ks with those divergences. Divergences are never a buy or sell signal by themselves more of a warning sign of potential trouble on the horizon. Like most patterns, some work, some don't,

however, this latest divergence along w/yesterday's candle has me wondering if there is a very large correction on the horizon. Easy to be a trading God on the move up but the move down separates the pros from the armatures & there are a cult of armatures in this space. #Bitcoin

One+ week later and here we are testing the $BTC_F trendline from 2021. #Bitcoin $BTC

$BTC_F follow through from the strong test of the 2021 uptrend line. #Bitcoin $BTC

Another All TIME HIGH on $BTC_F where blow off tops don't exist in #crypto fantasy land. #Bitcoin $BTC

Since institutional investors have become active in #Bitcoin futures, $BTC_F has traded more technical dropping back to test the 2021 up trendline. The Coinbase $COIN IPO has marked a temporary top.

$BTC_F testing the top of the open gap from March 28th. #Bitcoin