So far, BTC is following the extended path to complete wave 5 to end minor degree wave 1. IF price falls below $86k, then I may have to up the internal wave degrees to lower the targets, but even then, the extension target should be 2.618 fib extension of minute degree wave 1 and 2; at $160k. For now, I am watching if $96k support holds for micro degree wave 2. This week will be crucial to get back on the narrative train and start making higher highs. Longer BTC is stuck in this range, greater the probability of distribution cycle and that will not be good for the overall crypto market.
gold short to 1HR area of interest then a long off of the 1 hr area of interes depending on the 4hr candle
NASDAQ:ALLT ’s phenomenal momentum is backed by David Ryan’s Ants Indicator. Both daily (right) and weekly (left) timeframe attest to this. For more information on this indicator, you can check out John Muchow’s script on this platform. Ants indicator is how David Ryan interprets institutional accumulation over the last 12-15 periods. This is not to say that the price will continue its momentum because this is still a lagging indicator. So it should be complemented with price action strategy. I supplement this indicator with Mark Minervini’s Trend Trending Criteria (which is all green on weekly timeframe) as well as Relative Strength Rating (which happens to be 99 on daily timeframe).
BTC5L 4H . Market Order Allowed TP SL On Your Own . 0.82
Very nice setup. No need for me to be greedy.. All lots are closed and the account has grown nicely. 3000 pip win.. keep it simple and study market structure
Price breaks below lower trendline support at 102K inside consolidation triangle. Looks like bears are in command now. Pull back to 104/105K before short to test 90K support again .
This week is expected to bring heightened volatility to the Bitcoin market due to the Federal Open Market Committee (FOMC) meeting, which typically impacts financial markets significantly. Bitcoin is currently trading at 101,958.3 USD, down 0.57% in the session, and is within a key zone of interest, 102k–96k, which could act as a magnet for price movements due to the significant liquidity below these levels. A short position has been placed at 108,353.0 USD, targeting lower levels within the identified range, with a stop loss positioned at 114,193.4 USD to manage risk effectively in case of a bullish breakout. Multiple take-profit levels have been identified, with the first target at 103,214.5 USD, the second at 102,726.4 USD, and the final target at 92,004.8 USD. The setup is designed to capitalize on the potential downward move while maintaining a controlled risk. Peak profit for this trade is currently noted at 0.71%, with further room for expansion if the price descends into the broader range. Significant liquidation zones are clustered below the 102k level, which may lead to sharp moves downward if triggered. With FOMC week ahead, market participants should expect unpredictable price swings, requiring disciplined execution and adherence to risk management. The bias remains bearish for Bitcoin in the short term, given the current market structure and the presence of strong selling pressure near the identified zones. This short trade setup aligns with the technical and fundamental conditions anticipated for the week, and traders are advised to monitor key levels closely and adjust their positions as necessary to adapt to evolving market conditions.
If we look at the TOTAL 3 chart, you can see that we've just formed a double top. I lean towards one more leg down here that plays out towards the second half of February and potentially into March. I think price has the potential to get down to the 630B support, but can start scaling in around 775B. Many alts still look like they have another 50% lower to go before the look good to buy and hold.
Possible market direction will be monitoring that gap, how will I react, will give me the weekly possibly monthly direction with it
We have broken out of the current area of value and retracing back into it to give a entry to continue with the bullish price action. We just have to allow things to play out and establish that low for the week first.