Paraman666

Bitcoin is currently testing very strong resistance, if we manage to close above 62k and stay there for few days, then new ATH will probably be inevitable. On the other hand, if we see rejection from current level, price will very likely drop down to 50k. 50%/50% IMHO.

I consider funding rates on crypto exchanges as the most useful indicator, whether we should be selling our bags or rather buying them with all our purchasing power... I think the chart speaks for itself.

BTC still looking solid, despite some american stocks took big dive (FB, NFLX), bitcoin is looking very good. We are probably still in some sort of 4th wave, which should result in move up. More detailed view in my youtube premier video, that I have just uploaded ;)

A lot of similarities, not convinced at all, that this will play out, it´s just an idea to share..

I personally think, that BTC is currently trending down and price will go down below 29k. We have clear 3-wave move to the upside, which should represent 4th wave and now we should be in the final 5th wave. The only thing that really concerns me is the BEARISH SENTIMENT, which doesn´t support my thesis, that price will be trending down in next weeks. So in LONG TERM (1-2 years) buying on current price levels is very likely good strategy and probably will result in big gains.

Triangles are typical as a 4-wave correction, the theoretical pivot of the triangle is at 51,5k and if this is indeed a triangle, we might go sideways for the rest of the year, which would probably mean huge altseason, due to the bitcoin stability.

If this is indeed big ABC flat correction, the structure must be: 3-3-5 - we don´t really have 5 waves in this last segment of the chart + there is huge amount of liquidity below 29k, so I think it is very likely, we will eventually go there. Buying below 29k seems to me like no brainer.

ETH is currently much stronger than bitcoin and the recovery after that bloody and nasty drop was much stronger on ETH than on all other cryptos. I also think, that ETH bounce up in 5-wave fashion, in the leading diagonal, so the correction (WXY) might be done and ETH may be printing new all time highs pretty soon.

BTC should still continue higher, sentiment isn´t bullish at all, it was even bearish, after that recent small correction to the downside and I don´t see any warning sign on RSI neither. Although from eliott wave standpoint, we might be finishing ending diagonal, so we might set top at 70k and then correct down at least to 60k.

BTC will very likely surpass previous all time high soon and yet the sentiment is not that much bullish (bitmex funding rate is IMHO the best tool for recognizing current sentiment). I think BTC will continue in current uptrend wave, until the sentiment will be super bullish, than we will see correction. Of course, the second option is, that btc will drop down super quickly, sentiment will become very bearish and we will continue in uptrend after that drop.