💰 #BITCOIN 7 YEARS CHANNEL
IMO 7 Years Long Channel is the most accurate formation on #BTC we can rely on!
Let's Consider🔍
📈Jul 2017 Bottom - Rise to the Channel's Top | 1031% 📉Dec 2017 Top - Decline to the Channel's Bottom | 84% 📈Dec 2018 Bottom - Rise to the Mid-Channel | 343% 📈Mar 2020 Bottom - Rise to the Channel's Top | 1582% 📉Apr 2021 Top - 55% Decline 📉Nov 2021 Top - Decline to the Channel's Bottom | 77.5% 📈Nov 2021 Bottom - Rise to the Mid-Channel | 377.5% (so far)
Additionally I would pay a close attention to the Mid-Line of the Channel🧐
• 2017 Breakout & Retest we are pumping further • 2018 Plays as S/R Trendline breakout trigger further dump • 2019 Rejection leads to a dump to the channel's bottom • 2020 Breakout leads to further rising • 2022 Breakout leads to further dumping
P.S I added support & resistance zone to the channel structure by using the earlies candle's closes, so it's more accurate.
Final thoughts: we are currently bull flagging below the mid-line of the channel, which gives us an additional bullish signal🐃 as mid-line serves a resistance and such patterns lead to the imminent breakout of the one!
Btw I like how zone between 0.618 fi
💰 #BTC/USD
Bulls have some work to do💁♂️
Two Daily Key Supports are lost + short-term structure turned to be bearish 🐻
📌If it's a Fakeout Scenario - then we need to see a break back above the support zones $58700 & $61800.
📌If it's a Distribution Scenario - then treat former support as resistances.
My plan to act - First of all want to explain some market sentiment to you and what happened - Crypto got a bit overcrowded with a New Halving Event & All those new memecoins given enormous % returns, so heathly correction is more than good to crypto at this stage.
📘 The problem of new altcoins
Friends, hello everyone. Recently I found an interesting table, in which they collected statistics of 31 tokens released on the exchange on Binance for the last half a year and only 5 of these tokens showed growth from the listing price.
🔎 Yes, the correction, which came to us unexpectedly, played a big factor, but still it was not only the correction that was the main factor for such a big drop in the prices of new altcoins:
One factor is Low Float, High FDV
This means that projects come out with low token circulation to the market (up to 10-15%) and because of that it is easy for them to pummel the FDV valuation above reasonable limits.
FDV is the total value of the project if all tokens were in circulation.
🔓 A very vivid example is the token $WLD, the World Coin project. Only 1% of tokens are in the market right now and for the same reason in an upward market, it was valued at 110 billion FDV in March this year.
These are some cosmic values, even the top 3 and top 4 coins: Solana or BNB don't have such valuations.
The big problem for retail players is that all this upside is being taken away at the private equity level from funds. Becau
💰 #BTC
No Panic❗️
Some consolidation above the Monthly Support Zone (former resistance) then Full Send🚀
💰 $BTC got rejected off the Daily Supply Zone🔻
We are about to have some more ranging😴
Imo it's better to accumulate inside the one😉
💰 $BTC got rejected off the Daily Supply Zone🔻
We are about to have some more ranging😴
Imo it's better to accumulate inside the one😉
👑 What's going on with the market?
Friends, hello everyone. Making a short post for you on the market situation. Now bitcoin is behaving in a very interesting way.
📑 As I said, my scenario did not work out completely, but the vector was set correctly. Now BTC is growing again. Apparently, the data on consumer inflation (I wrote here) gave more positive than expected.
Do I expect a sharp rise to ATH now? — No.
I think we need to go lower a bit more to renew the high. A sharp rise after the news can't last that long. In the chart I have visualized my scenario.
Your opinion - when will BTC update the all-time high?
🔥 — Before summer 🐳 — Later than summer
CRYPTO TREYSI | Subscribe
🪙 BTC pleases investors
Friends, hello everyone. Today the market is very happy. Everyone saw a growth of more than 7%, right? Yes, personally I was waiting for a fall to the $57,500 mark, but maybe it will still happen.
❓ Why the rise?
Consumer inflation (CPI) data came out today, which had a positive impact on the market as the rate was lowered from 3.5% to 3.4%. Perhaps the next move will be a Fed rate cut, which will add more positivity.
We were waiting for this data, but I expected to see the decrease a little later.
Now the market may turn on the RISK ON situation.
What else is driving investor interest in risk assets? The devaluation of the US dollar, falling treasury yields, falling oil quotations. Under these conditions, if inflation "pleases our eyes", the market should come alive.
Also, most likely you didn't notice, but the SP500 hit an all-time high and went looking for a new boundary to consolidate.
❔ Would love to see more market reviews and news like this from me. If you do, put 🔥
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🔹 ETH Overview | Why is BTC better?
Friends, hello everyone. Today is Monday, so I suggest today to look at the market overview, and in particular the chart of ETH. There are some interesting points on it.
↗️ If we compare the charts of Bitcoin and Ethereum, we can see that ETH looks a bit weaker. There are no strong upward shoots on it, the price falls more calmly. Plus it moves more technically. Ahead of us is the resistance level at $2.700, which could be a strong reversal point. From this level I will expect a false breakout.
BUT - regardless of whether a false breakout occurs or not, I will still work the sloping line.
The chart shows everything in more detail.
I don't see any sense in analyzing the correlation between ETH and BTC. As you know, ETH is one of my favorite assets, so I follow it closely and trade it.
🔎 Also, one of the top meme coins - PEPE - updated its global high today. This is another example of the fact that the sphere of meme coins is very relevant. I have already told you that it is desirable to always have top memes in your portfolio. Manipulation has never been canceled.
What do you think you can make more money on in the perspective of 1 year?
💰 #LINK Mid-Term Setup
$LINK is currently Re-Accumulating along the Key Resistance Zone🧐
Breakout above the one & Rally is just a matter of time📈
🎯 1 Target: 26.5$ 🎯 2 Target: 33$
