Bitcoin CME gap.There was a gap left on the bitcoin CME futures chart. I expect this gap to be filled.
BMC1! trade ideas
🅱️ Bitcoin Enters Correction Based On Elliot Wave Theory (~20K)➖ We have a perfect 5 up wave bullish impulse pattern.
➖ After five up we get three down (ABC).
This is the main premise for the upcoming correction, together with the halving and the Bitcoin Merge but there is more.
See this chart:
This week ended on a very strong bearish candle, we will have a closer look soon. This bearish candle/session has the highest volume since November 2022, after the week of early November 2022, the 8-Jan-2024 session has the highest bear volume on CME Futures. This is a major bearish signal.
Now we have a chance to look closer at the current week, it turns out that the CME chart reveals more data than the spot chart, this is great... Let's proceed.
Ok... Follow me!
The highest close happened 4-Dec., this is the full green candle to the left.
The top of this candle is marked with a green line.
This week we have a large upper wick (buyers buying) but the real body is red (current price below open) and the session ends red (close below open).
The candle close happened below the open and close of the first week of January and also below the close of the early December week, meaning that we have a full rejection in place.
Match this with the previous Doji (indecision), the high bearish volume (bearish strength) and wave count (market cycle), this is all pointing lower.
The fact that we have the launch of a Bitcoin Spot ETF with more hype than the Ethereum Merge, we know the top is in because these events are used to sell.
Then we have related charts such as COIN crashing and even unrelated charts such as TSLA, Gold and the SPX.
The whole thing is screaming: Down!
Now, how far low it is very hard to guess at this point because prices still trade at or near the top.
My early assessment says around 25,000 to 20,000 but soon we will have more information... The ABC wave on the chart is only for illustration, the shape of the wave and actual levels can be quite different.
The correction will last for a few months maximum, 2-4 months.
The initial reaction can be ultra-fast and strong (within 1 month).
👉 After the 2024 Bitcoin halving, we will get sustained, long-term growth.
When the halving is in, it is time to go long.
The chart will let us know and I will be here for you... You can count on my support.
You have my support.
Thank you for reading.
Namaste.
BTC1!As we near the January 10 BTC ETF deadline, it appears BTC is once again picking up momentum after having been confined to range from 40-45k since early December.
Whichever way this breaks, I wouldn't fade.
618 of the whole move first level for longs to overcome.
CME has its final two gaps en route to all-time high at 51k and 53k respectively thereafter.
Third quarter retrace to highs around 55k tertiary.
Below 40k?I'm observing Bitcoin's recent movements with a cautious eye as it teeters on the brink of falling below the $40'000 mark. I've noticed miners ramping up their selling, possibly adding downward pressure on BTC's price. While the technical indicators like the 200-day moving average show some positive signs, the overall market sentiment feels bearish. It's a tricky time, and I'm keeping a close watch on these developments, ready to navigate through this period of uncertainty and potential volatility in Bitcoin's price.
BTC - CME Chart Here is an update to this post where we predicted this move perfectly.
So far we have come up for price to fill the gap and test our old support as new resistance. If this trendline holds as resistance our technical measured move is around $38,810 even though I think we will go a little lower based on other trendline and targets.
BITCOIN GAPS IN PERFECT LOCATION!!?! Still Bullish!There are 2 gaps on the #CME that will most likely get filled.
A short move up to fill the most recent gap , then a move down to fill the gap around $39500.
This will still keep #Bitcoin in an HTF uptrend.
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Another on the $ $BTC callWe are not trying to toot our own horn with this post.
There have been a few accounts that were warning about a CRYPTOCAP:BTC top.
HOWEVER, they've been saying it for some time. Broken clock is also right daily.
We began to warn few days BEFORE the #BTC melt down.
48k target, like we stated, was likely a short term top.
We rang alarm bells on the 9th & WARNED on 11th.
Another $ call on #Bitcoin.
BTC - Short Term AnalysisOn the Left is the CME chart and on the right is a spot chart.
We did open with a gap on CME and that gap almost always get filled. That gap is between $42,365-$43,425. If price goes up to fill that gap it would also be testing our white line of old support that could be flipped into new resistance.
With the spot chart, we see BTC has created railroad tracks upon the open. This occurs when price closes and instantly reverse upon the open. Currently, we have seen these railroad tracks form on every timeframe from the 1min to the 1 week. As long as the low holds we should be able to reach the CME gap with this pattern.
🅱️ 6X Lev Bitcoin SHORT (239% Potential | Adults Only)Let's try again, the previous one was obviously too early.
These are what I call "trade-numbers".
➖ The bold levels are the first stop.
➖ It can go as low as 20K on a wick.
➖ It can take months to fully develop.
➖ Initially it can go fast.
_____
Leverage: 6X
Buy-in: $41,000 - $44,000 | Cp: $42,440
Targets:
1) $40,000
2) $37,500
3) $35,000
4) $32,600
5) $30,000
6) $27,000
7) $25,500
Stop-loss: Close daily above $46,000
Potential profits: 239%
Capital allocation: 5%
____
Disclaimer: Leverage trading is high risk and for adults only. Adults are responsible for their own actions.
Some trades can be a success (win), others can fail (a loss), this is normal.
If you cannot take a loss, then you cannot trade nor do anything in life because losing is part of the game. Making mistakes is part of the game, it is just the way we learn and grow.
I am wishing you success truly.
I am hoping you can achieve your goals.
Do your own research.
Thanks a lot for your support.
I love you 😁
Namaste.
BTC big expectancy of free fall againHello
Dear BTC buyers holders, pay attention I see that BTC has some signs of going down:
1- A strong reversal candle in weekly frametime is performing with huge voulume.
2- BTC had already accomplished its 3 correction important levels ( see my previous post) of
Fibonnacci retracement (38%, 50% and 61.8%)
3- The reached level of 48000 was expected more than 1 year as a maximum pick from where a
critical reversal point is would strat.
If BTC is agree with me it will go down until 32000 as a first .
Remember investors that I am not using a cristal ball but I try to be more rationnal whan i make my analysis.
Nb : take a look on my previous posts i listed down.
Break Away Gap(s)This chart shows breakaway gaps and the timing of when and if they can be close . The notion that gaps are always get closed applies to most of the gap types but break-away-gap that is reated by excessive buy or sell volume in the market.
The challenge with gaps is predicting the time __ time in the market is EVERYTHING.
Bitcoin sending mixed signals but trend has been strongCRYPTOCAP:BTC has hit the 1st 24 target.
Volume has been a little mixed lately. Was more buying leading up to the last few days.
#BTC RSI & $ Flow indicators are diverging.
RSI holding 50 but going lower (middle).
$ Flow above 0 going higher (middle).
Weekly
#Bitcoin trend has been strong.
It has been overbought since October.
Monthly
Not overbought, that's RARE when it does happen.
More on this another day.
Bitcoin Pullback Imminent? The rally in Bitcoin futures has been impressive. But, without question, the rally is showing signs of fatigue. So the question is - are we gearing up for a pullback?
Technical Outlook :
Concurrent bearish divergence and a declining volume profile is a telltale sign of an impending correction. Why? Put simply, because all of the bulls are already in the market. Meaning that no new buyers bidding up the price. As a result, long liquidation pushes price lower. An initial operative target for a correction would be filling the gap from Dec. 1st and Dec. 4th between 40,390 and 42,500. While this correction would be significant, it may be necessary to sustain the longer-term bull trend.
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Disclaimers:
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*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
