5/ The more they dump on a weekend the more boolish I get for long term. You don’t dump/pump on a weekend if you’re not coming back to it.
If they want to dump and not come back to it then they do it during the weekdays, not on weekends.
6/ They’ve just taken out the low from Jan.
The influencers are still saying “buy the dip”.
Once they start saying “it’s over. Bitcoin is going to $20k” it’ll probably signal the bottom 👍
7/ Crucially USDT Dom has taken out the highs.
I would expect some sort of a bounce sooner rather than later. It is false move Monday and there’s the CME Gap up at 36k that’s been left behind $btc #Bitcoin#bitcoincrash
8/ Alright, well today’s been interesting hasn’t it?
On a technical level it looks like we’re near the bottom.
On a FUD level it also looks like we’re near the bottom.
Influencers haven’t capitulated yet so probably still room for a move to July lows of $28900
15/ By the way, it was kinda funny seeing all the Bear Market tweets come out yesterday.
Bear Market tweets. At high timeframe support. Think about it.
If you wanted to anticipate a bear market you should have done it at 40k. Not at 30k which is support until proven otherwise.
16/ It’s now Wednesday. Wednesday is the day I start looking for the reversal. Seeing as we’ve only gone one way the past few days I’m obviously looking up.
CPI Data is today, so it could be the catalyst they use to give a short term bounce
17/ These yellow boxes are the areas I would be targeting.
I don’t believe the bottom is in yet though. Bottoms don’t form like this, but doesn’t mean we can’t range for a while. I see this Daily Bull VCR as similar to May - July 2021 where it was the start of a bottoming range
18/ I will not start being concerned about a Bear market until 28k is lost.
19/ I guess it’s time to see what they do at and around 28k then
For now they haven’t quite reached it. $28853 is the low from July 2021.
Same play as always:
Take out the top of the range first and you target the bottom, take out the bottom of the range then you target the top.
Note: $Eth range isn't confirmed until a break below $1557.65 has occurred.
Price moving towards the top of the range at the moment. Will be careful if this turns out to sweep the range high first - have to remember that we're in the vicinity of a bullish order block and the fact there's a lot of fuckery around the weekend. If it does take range high...
...i'd like confirmation by it re-entering the range and holding within. A move back up above again and i'd be vigilant to make sure it doesn't go against me too hard.
For scalp ranges I am always looking for a minimum of 3:1 RR.
Notice and observe how whenever we drop people start searching for lower and lower targets.
Was this the case a few months ago? No, people were looking for higher targets until all hope was obliterated.
There was a sentiment shift when we dropped below 28k.
Hope turned to despair.
People who had been trying to buy/long the dip were now more of the thought of selling/shorting the rips.
Towards the end of the move is when people start getting aggressive with even lower or higher targets.
Know when the market structure has shifted, we are very much in bullish market conditions - yet the crowd is still very much with a bearish mindset. Most are offside.
2/ What's the first thing people learn when they start trading?
Technical analysis of the chart. Usually through some sort of patterns system, Fibonacci, Elliot Waves, Fair Value Gaps for example.
But what is something is consistently overlooked?
Time.
3/ Time is important because it's when the Market Makers and the algorithms are most active in the market. You'll see this through sessions whereby most of the activity in the charts happens whenever the key legacy sessions are open. These are Asia, London and New York