Technical analysis by This_Guhy about Symbol BTC: Buy recommendation (5/15/2024)

IntroductionThis is a birds eye view post. We have had the usual stall and consolidation after the halvening and things have started to get lively. Due to all of the tokenomics of bitcoin, with the havlvening, its periodicity, and so on the move is going to be impulsive and sustained. The charts reflect that. Important Indicator considerationsA MACD crossing the signal line above zero is generally bullish. A chart displaying some divergences helps predict a MACD cross will be sustained. This is basic pattern recognition. We have hidden bullish divergence, which suggest we will have trend continuation. The timing on the pattern is perfect. Divergence primerNormal Divergence (Trend Reversal)Bearish: Higher highs on price action but lower highs on the indicatorBullish: Lower lows on price action but higher lows on the indicatorHidden (Trend Continuation)Bearish: Lower high on the price action and higher highs on the indicatorBullish: Higher low on the price action and a lower low on the indicatorMy planI have moved into low cap alts. Those provide me outsize gains similar to playing the top 10 with margin but without the risk of being liquidated. My peace of mind is so much more stable up the risk curve so long as I won’t get liquidated.I have some rotations planned out and based on my how my account is doing I now have to start paying attention to the 2% Depth data on coin market cap to make sure I don’t have liquidity issues. I am also taking quite a risk because I am not sure some of these projects won’t become the next Luna or FTX token that goes to zero. There is zero percent chance I hold those bags through a bear market.For example, here is KAVA. I expect a quick move out of this triangle to the 0.618 retracement level. 4.6x for a 120-150 day move Very similar to my fantom trade. I of course was NOT able to nail the high but it was close enough.