Support Eliminated | Lower Still: Right Away

Jul 6

Can you see the long lower wick on yesterdays candle (5-July)?

➖ Unsuspecting onlookers can take this as a strong reversal signal.
➖ Beginners can see this as a sure recovery.
➖ Wishful thinkers can consider this the end, because it was a "very strong drop."

People can make all sort of excuses in order to support their bias... And that's ok, we understand.

Yesterdays session produced the highest sell volume since March.
After more than three months of sideways consolidation, the breakdown confirms the distribution phase.

👉 The high volume confirms the start of a major bearish move, not the end.

The long lower wick indicates that support is being removed.
On the next drop, it will go through this level much easier, much faster... Much lower.

I hope you find this information useful.

Namaste.

Jul 6

Note

Bitcoin Short-Term (Dead-Cat Bounce, Going Lower)

Each time there is a drop, there is always a reaction that leads to a small "bounce."
This bounce is when prices move in the opposite direction to the current trend.

➖This move up does not mean that Bitcoin is rising or entering a new phase, but rather reacting to the recent drop.

➖This is confirmed by the very low volume on the bounce (move up).

This is just a friendly reminder... Patience is key.

It will resume lower but many people can easily get caught thinking that the correction is over when it isn't.

I hope you find this information useful and timely.

For more information you can visit my profile where you will find trade-ideas on higher timeframes.
This is for the impatient and inexperienced ones.
If you have patience or experience, feel free to ignore this post and wait patiently for the correction bottom to come.

Good luck.
Good profits and success.

Namaste.

Jul 7

Note

How are you feeling right now?

No! Not you as in your home/body or relationship, I am talking about Bitcoin of course.

How are you feeling in relation to Bitcoin?

Do you feel scared?
Do you feel excited?
Do you feel confident?
Do you feel secure, unsure?

How are the majority of the market participants feeling?

Feelings are literally a guiding mechanism.

The way we feel can tell us if what we are doing is right or wrong.
If what we are thinking is beneficial or detrimental to our being/health.

If we think of something and feel anxiety, uncertainty; our body is telling us that there is something not quite right with whatever we are thinking.

If we feel 100% confident and secure; our thoughts and beliefs are aligned but this doesn't mean that whatever we are thinking or experiencing is right.

Anyway, the market sentiment is key, because it indicates the state of mind of the market participants.

The state of mind you are in will dictate your actions, how you decide to move.

If people are doing fine; feeling confident and secure; they are not likely to take any type of action; they are not likely to move.

If you are feeling out of your center, distressed, you can easily move in this or that way...

People are feeling confident right now after four months of red... So, if you people don't move, that is something Bitcoin will do.

Bitcoin is not confident, nor secure nor stable right now... It has been going down and down for months.

Bitcoin is unstable, shaking and has no idea what is about to show up...

As you sit tranquil and relaxed waiting for prices to go up; Bitcoin is having doubts and will soon let us know why this doubt is so strong.

You can feel confident if you have a plan, if you don't ... wake up!

Namaste.

Jul 7

Note

🍀 A POSITIVE MINDSET — YOU CAN WIN

You are special...
It doesn't matter your sex;
It doesn't matter how you look;
Your financial status or personal success don't matter... You are special!

You have life in you!
You have life within you...

You are part of nature!
You are a part of creation.
In this reality that we live in... You are...

You are not a random meaningless human being coming out of inert matter... That's not what you are... You are special... Let me explain!

This all reality, this all existence, this whole experience which we call life, came to be out of something. This something we will call God, or the Source, the Absolute...

You are a part of it... You are alive... You are special.

You are a part of God.
You are a manifestation from the Source.
You are the creation of the Absolute; thus, you are Divine.

Knowing this, you can make the correct choice at the right time.
Because, regardless of your background, you are special... You are Divine!

You can sell at the right time.
You can buy at the right time.
You have the ability and patience to hold.

You have an eternal essence within you which is your Spirit.
You have an eternally unfolding personality which is your Soul.

You can rest easy, be joyful and peaceful, knowing that there is no death; life goes on.

We can never die...
We transition from one plane of existence to the next... on and on and on...

Knowing this, when trading, you can make the right calls.

You can be successful with your trades.

Thank you for reading.

You are appreciated.

Namaste.

Jul 7

Note

IMPORTANT | Major Low Within Days

We are likely looking at only a few more days of red before we have a relief rally... Looking at the chart, Bitcoin is set to produce a major move toward 50K and then immediately lower. If this happens, we are sure to experience a relief right after BTC hits its 40-45K target.

Considering a hit of 50K tomorrow, we can expect the 40-45K target to be hit after tomorrow. Since this is really strong bearish action, we can expect a relief rally right after (this would be a short-term relief rally leading to the next, below 40K target).

This is just one possible scenario.


To consider

The bottom low will not be very easy to spot; it will be hard.

The first low will come in and then the relief rally, what happens then? A relief rally can go for 10-15 days just as it can go for 25-40 days; and this makes the whole dynamic very complex.

After the relief rally we will have another down-move but this time we can no longer call it a correction.

If the drop this new coming week is weak (above 40K), the next low in several months time should end in a lower low (below 40K).

If the drop is new coming week (starting tomorrow) is strong (below 40K); this will be the market bottom and any down-move will end as a lower high compared to this one and thus we would already be in the phase characterized by long-term growth.


Most likely scenario based on...

The most likely scenario based on a strong and wild guess, is that we set the low now, in July 2024, and any action after this month will be part of the bull-market that will end in a new all-time high and major bull-run in 2025.

Yes, there will be a strong drop in November but this can result in a higher low compared to what we will witness now... Taking in consideration the dynamic that I just explained.

This is just one potential scenario, but it is a map that can help us prepare and we adapt and adjust as things develop because; what really happens only the whales and insiders know.

Namaste.

Jul 10

Note

Good day my fellow traders, I hope you are having a wonderful day.

➖ So far we have no significant bounce, no significant volume; Bitcoin continues trading below 60K which confirms a massively bearish bias.

➖ For the short-term, and to keep it simple, just look for a daily close above 60K to consider anything positive. If Bitcoin trade below this level, this is simply bearish consolidation.

➖ The strong rejection below 60K (~$59,500) works in favor of the bears.
A bearish close today (at current prices ~$57,500) can indicate the resumption of the bearish move tomorrow or mainly this same week.

➖ If Bitcoin drops, the others drop also, so consider the shorts we've been sharing since last week.

Remember, patience is key.
Trade with me to win.

Namaste.