Yesterday's Update https://www.tradingview.com/chart/BTCUSDT/QYKdyh9W-What-a-Daily-BTC-Update-looks-like/ I’ve dropped the chart to a daily timeframe to analyse signals that upward momentum could return. Here's what I’m seeing: STOCH RSI: The indicator is nearing a cross, historically pointing to a potential bounce. 0.236 Fibonacci Level: The current candle at this level is a Dragonfly Doji, which, if confirmed by the next few candles, is often a signal for reversal. Many of you have asked why markets dipped despite the 25bps rate cut. Here’s the insight: Federal Reserve Outlook: The Fed has signalled fewer rate cuts in 2025, tempering market enthusiasm and creating uncertainty in risk assets, including Bitcoin. BTC Exchange Net Outflows: Over the past 24 hours, 4,169 BTC have been removed from exchanges, continuing a two-day streak of net outflows. This suggests a decreasing supply of Bitcoin on exchanges, a possible sign that holders are moving assets to cold storage or other off-exchange wallets, signalling confidence in holding for the longer term. Supply and Demand in Bitcoin Understanding supply and demand is crucial for interpreting Bitcoin’s price movements: Supply: When the supply of Bitcoin on exchanges decreases, as we’re seeing now, it often indicates that fewer people are willing to sell. Holders moving BTC to cold storage or off-exchange wallets typically signal confidence in Bitcoin’s future value and reduce the immediate availability for trading. Demand: If demand for Bitcoin remains constant or increases while supply decreases, basic economic principles suggest that prices will likely rise. Conversely, if demand weakens while supply remains limited, the price can stagnate or fall. Right now, the net outflows from exchanges suggest supply is tightening, setting the stage for potential upward price pressure if demand increases. Now we need to watch and wait for a TETHER print that often happens with increased demand. Please give me a like if this has helped and see you again tomorrow :)
#Ponke has broken out of the downtrend. It has now turned resistance into support. RSI is strong showing that buyers have returned. STO is at the bottom and turning up. Definitely worth a trade wit a 27% target but keep your stops tight. Price is 0.34 Target is 43 Stop is 0.32. RSI is 39 on the recent low showing buying strength is returning. STO is 22 and dropped to 8 on recent low so is poised to head back up.
Among many other assets I've noticed VITE as it is in a very interesting position. Look at the trading volume during the past couple of months, either it is some sort of wash trading or a sign of accumulation. Also it is squeezed by the giant triangle so it will exit from it with a large impulse (theoretically) Anyways currently VITE is almost at the historical bottom so theoretically the only next stop below the current point is delisting. But I think a small percentage of the portfolio can be placed on that bet. If VITE falls below 0.01 - the trade is disposed of and we should exit by stop loss. I will get into this trade and see how it turns out.
Baaj's Big short of Indian stock market / / Maybe they'll make a movie on me? Burn baby burn!
After the strong bounce the other day from 92k (black dashed line) i was curious whether there was any other price action that respected this trend. I started by taking the trend from the bull market highs of the previous 2 cycles, then keeping the same gradient moved to the bounce at 92k we had the other day and drew a trend line at the same gradient. Interestingly price has reacted to this trend line multiple times ever since the bottom straight after the 2017 bull market. Copied the gradient across the chart seeing the price action respecting this gradient multiple times. Created a trend line of best fit from the bottom of the range to our current high (thin red dashed lines). Measured gradient and copied and pasted to the 2017 and 2021 bull markets inverting the gradient for the swings to the bottom of the channel. Created another trend line (thick red dashed) to see where the above dashed lines were intersecting and noticed where they were intersecting the thick dashed line on roughly the same day.
You must watch this metric to understand #ALTSEASON CRYPTOCAP:BTC Dominance is the most important metric now. CRYPTOCAP:BTC Dominance rising or ranging is very bearish. This means money is not flowing into altcoins yet. When CRYPTOCAP:BTC Dominance falls altcoins will pump to ATHs. The key is not to get shaken out while waiting. Be patient and DIAMOND HANDS.
If you look at CRYPTOCAP:BTC.D you can notice that what we called "start of altcoin market" was merely 3 week BTC dominance retrace and when true altcoin market starts, you will notice it by very fast change of narrative and rapid altcoin market growth. Anyway, I suppose that movements of Altcoin market capitalization will follow some sort of Elliot waves pattern (something like that). However this altcoin cycle may happen in a very different nature and mostly will be comprised of memecoins, so your old altcoin bought 4 years ago might stay worthless regardless of the altcoin bullish market
Sold off last week after the FOMC announcements, Price took the buyside liquidity generated during the months early consolidation period and found support at 2584. This now forms the major low of the month but continued the upward macro trend as it was a HL than that formed in November. Beautiful bounce from the sell off as price made up majority of the move during the following 8hrs. As per usual but not every time the FED speaks. The close last week coincided with the quarterly flip which acted as resistance at the close. My Bias is Long with a resistance at 2727 and once breached, price can break out to the top side with targets of 2650, 2664, 2675. Initial support is 2717, if broken could send price lower. 2605 and 2587 levels to watch. Quarterly flip is 26632. Monthly flip is 2650. Merry Christmas everyone.
ABC- pattern is still validated as long as we don't hit 0.27 on doge.this is what i believe will take place,on Monday or soon after we will see a big correction on the DJI this is going to affect all stocks especially any stock that is related to tech and AI at that moment btc as along with almost every alt can dip hard,so be prepared Monday for a choppy week. thank you for everyone that left support,and follows hope i could help thank you again.
The stawk sucked this year and made it back to March 2020 levels. But those gaps still and that possible Fib retrace....