DickDandy

12:30

DickDandy

In this video I detail out why I believe we will see a significant crash on Bitcoin, dig into the mechanics of how a drop to $10,000 is possible, talk about the US Dollar and macro ideas for Bitcoin, and summarize my trading ideas and why I am anticipating its a good trading opportunity. Any questions or comments, please feel free to ask or leave your own input....

DickDandy

Short Bitcoin per trendline: Entry - 60,200 to 60,500 Stop Loss - 61,200 Targets: 1) 46,000 2) 39,500 3) 35,000 Clear trendline breakdown with respected areas circled in red! When in doubt zoom out! Happy trading

DickDandy

Bitcoin is still respecting and not breaking this resistance line marked in RED. Unless we break above 62,000 - I consider this upwards momentum to be a bearish retest and bull trap scenario. It’s possible that we see a flash crash and tap that level around 35,000

DickDandy

I anticipate Bitcoin to drop a correction sequence - 34,500 level as a first low From here, we should watch for a major resistance to hold around 43,000 - this indicates a further drop to the 10,000 level If Bitcoin drops at speed we know why - DXY is seeing a major breakdown and bearish retest. This indicates an extended 1-2 year bull market - prior to which...

DickDandy

This is the same chart I’ve been presenting for a few months now. Bitcoin has been showing interest in correlating with DXY’s major breakdown to sweep these Uber low zones. So long as we are respecting these trendlines, I’m convinced that Bitcoin will form a pattern approximate to these levels: 58,700 to 34,500 34,500 retrace up to 42,000 to 45,000 Rejection...

DickDandy

Bitcoin is currently at an ideal entry for a high R/R short based on the trendline shown - targeting 34,200 to 35,000. From that level, I will look for a retrace up to 43-46k. Rejection at this zone can indicate a much more substantial drop to sub 20,000 zones. All details on the chart - will update with a new idea if Bitcoin follows through on this expected drop.

DickDandy

I suspect that Bitcoin will break down and hit 7,000 to 10,000. I’ve heard many remarks about this being unrealistic or impossible, but the reality is the chart is respecting the prediction and trendlines. While bitcoin can execute a zig zag pattern (34,000 - 45,000 - 8,000) - it technically doesn’t have to. If the TA pattern supports a move to be executed by...

DickDandy

Bitcoin has broken down this trendline shown and retested - suspected area is 58,850 to 59,100 This shows me an early indication that we will see this zig zag pattern take place. 59,000 to 34,500 - 35,000 35,000 likely to rise from there and retest larger bearish breakdown at 43,000 Rejection at 43,000 means short to 10,000 I carry NO BIAS as a trader. I...

DickDandy

This is a critical time for Bitcoin and that’s because of the US Dollar. DXY has shown a major breakdown on the 3 month chart, and is undergoing a bearish retest. Here’s some crucial moves and pivots to watch for to determine where Bitcoin could go. IF BTC STAYS BELOW 60,500 to 60,700 This is a more local bearish trendline on the daily and you can watch for...

DickDandy

Bitcoin has broken down 2 major bearish trendline. These are two potential paths so long as these trendlines are being respected. This far they have been. Scenario 1 (Most likely) 60,400 - Drop to 31,000 to 35,000 Retrace to 47,000 to 49,000 (Retest of the more significant breakdown line) Drop from 49,000 to 6,000 to 10,000 Scenario 2 (If Bitcoin rises...

DickDandy

Bitcoin (as puzzling as it may seem) has been respecting this trendline on both the HTF and LTF. The potential resistance lines are marked on my chart - however it’s likely the resistance line is located at 60,500 - so I’m watching closely right now to see volatility enter and drop speed. This drop (assuming it occurs) would be incredibly fast. Those open gaps...

DickDandy

DXY is completing a major bearish retest currently - on the minute time frames. This breakdown is a multi-month trendline, and what the DXY / Bitcoin correlation would indicate, is that we can expect an extended bull run of 1-2 years. This rise in bitcoin has been a straight shot up on the high time frames. What this tells me is that this move is a bearish...

DickDandy

Here are key points of the way I approach Bitcoin, that I feel are unique and worth mentioning. 1. The vast majority of bitcoins movement is caused by stop loss orders cascading one into the next, and performing pre-determined chain reactions as they are filled. The market is dominated by futures trading; and this has a major effect on the spot price of Bitcoin....

DickDandy

Here’s an updated chart for my Bitcoin short I shared. Currently logging trading this whole move, which I will post later on. Enjoy!

DickDandy

This is why Bitcoin is trading in its tight consolidation pattern. Hard crash incoming.

DickDandy

For those who have been following my Bitcoin prediction; I am expecting a major drop from around this current price point.

DickDandy

DXY is showing a major breakdown and a small move to retest the breakdown - per my own analysis. DXY has served me for years with timing bitcoins movements. Per my analysis and prediction, we are about to tank hard and fast. Long stop loss chain reaction to a very low price - don’t rule out 8-10k as a possibility. God speed

DickDandy

Bitcoin is back at the first entry on this massive short idea. We did rise up to fill the higher entry. Per my analysis what Bitcoin is truly doing - is weaving above and below this major bearish trend line. What looks like a wedge, is rather this interaction above and below this bearish trend line. Zooming in can show a clear cut through and respect on either...