julio24albert

It's like crazy as we know the last few days of the market environment which is obviously not good for BTC. The way the market is looking right now however is pretty horrible. Together with the Grayscale's FUD which they keep selling BTC to the market somehow is killing this market slowly. Therefore, I give you these key notes as guidance for the next BTC movement : 1. There is consolidation range currently is forming between $44454 and $40270 with the middle level is located at $42362 2. Price is temporarily breaking down below the $40270 as the range low. As long as the price can't reclaim above this broken support there is risk for further downside movement. 3. There is the bull market support band on the weekly time frame which is becoming the main idea that has been driving the price over time since a long time ago. Currently the Bull market support band is now having an alignment with the .382 Fib level from the whole swing structure from $15466 to $48993. 4. Not it's all on bearish side as of now. In fact, the price is now trending at the extremely oversold level after 21% drop from the peak of prior impulse structure located at $48993. With current amount of the short sellers coming into the market, there is also possibility of the relief rally on the short term. The liquidity gap / fair value gap located at around $45000 is becoming the hottest spot as of now as it has an alignment with the golden ratio level. There are all some of the notes you need to consider just before you jump into any trade. In my opinion, opening a short position at current structure is not worth at all due to the fact that the price has been dropping for more than 21% from the peak. Entering short position at this rate is also not good because the room to move to the downside is way smaller than entering long position. Entering long (buy) position is way safer in term of the risk management idea because there is still huge room to gain to the upside. And also, there is still another pushing factor which is the fair value gap located at the upside which hasn't been closed. My personal position is at the long (buy) side as of now which I've been opening since the price was at $38700 and of course, I still have majority capital as back up to accumulate more (if necessary) if the price drops even more in the future. Based on my perspective and calculation, the long(buy) position is in a very good favor and I see the possibility of 'discount' in current price. But once again, I only share my thought here and this post is not the recommendation to enter any position as you know I'm not your financial advisor. So that it's important to understand that you must Do your own research before jump in any position. All risk is at yours

This is how I analyze the crypto market with the 200 EMA as the base indicator to identify the different between the bitcoin, total market capitalization and the altcoins market capitalization. Based on the structure, we can see that the recent bull run is mainly affected by the movement of the bitcoin. The interest in altcoins literally is going down as of now. That's why we can expect a continuation rally to the downside for altcoins.

Bitcoin is now testing the resistance trend line which has been forming since the interim high. Still maintaining a lower high structure overall, so that it hasn't been any confirmation of another bullish continuation. Must wait what the price will do right at this level.

Bitcoin in overall structure is still forming the formation of downside parabolic rally and it seems quite bearish imo. However with the mixed signal based on the rejection, it could also be another leg up to be finished. That's why currently we are not confident with this bearish bias.

Bitcoin has broken out above the resistance trend line which is also the upper line of the triangle we anticipated on previous analysis as the bearish pennant structure. However, still there isn't any confirmation for the continuation for this breaking out. Must wait the break also on this horizontal resistance at $27465 level. Also look at the TRX as the hotlist coin for today.

This is another update about the bitcoin as the price action has been developing in another consolidation factor. During the development of the price action, we also see that the price is now forming another bearish scenario as the liquidation factor involved in this analysis.

The latest pump still doesn't mean anything for the bitcoin as the price is still forming another lower high structure here. Unbiased and uncertainty, it's all what we are seeing on the bitcoin. Just to be patient and don't take any unnecessary risk as of now.

It's been a difficult week to trade on the crypto space and we are now seeing the price is forming another possibility of descending triangle. On the higher time frame, the price hasn't broken the bullish structure but still we are open for possibility to test $25200 region first.

Bitcoin is printing a lower high structure in the lower time frame but still we have to remember that the price is now trending near the sacred resistance zone at $32000 and based on my experience, it could be a valid rejection. Still watching the levels I marked on the video.

The fact that current bullish break out on BTC isn't backed with the new money entering the market is kind of becoming our main concern here. The dominance is trying to smash out 48% level but we don't know how will it impact the market.