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Gold will bottom around 1390 this year before it takes off for a major bull market.
I recommend SQQQ and BITI (if you want an inverse of Bitcoin). I have loaded up on both. SP500, Nasdaq, Bitcoin are headed for new lows. We are going to have a 3 month selloff until Mid June, rally until 3rd week of August, then go down to new lows in October.
Both ETFs pay monthly dividends.
Bitcoin is tracking with Nasdaq. If you know the direction of Nasdaq trade bitcoin with it. It will track with these stocks, TSLA, NVDA, AAPL, MSFT, AMZN, META, GOOG. Tech stocks do poorly in interest rate increasing environment. If you think this is correct load on BITI and SQQQ so you don't have to worry about games that crypto exchanges play with liquating leverage players.
Nasdaq is the magnet that keeps on pulling bitcoin down. The relation delta between $BITI and $SQQQ is still $10. Pivot day the the 3 month selloff in markets started on 4/14 will continue until mid june 2023 for possible new lows. The only way I see bitcoin going up is if people borrow against house, take out 401K money (my son's coworker took 1 million from his 401k and bought bitcoin at 50k , and students loans to buy bitcoin like they did in 2021 when it peaked. I don't see that happening.
Another bull wiped out $22.5 million. Leverage is being take out. Too funny.
Just saw a bull got wiped out $23.3 million wow.
When exchanges finish liquidating leveraged (longs and shorts), bitcoin price will crash.
Take a look at SQQQ and BITI you can see a $10 spread between the two. As nasdaq goes up and down so does BITCOIN. Nasdaq will take down SP500 and Bitcoin with it. Lots of top tails in indexes and bitcoin.
Many folks used home equity lines of credit that buy bitcoin at 40K and above. Now you see why bitcoin is topping out to 32K max before it makes new lows. A lot of wealthy folks got in around 28K. This why so much selling going on. My son knows of someone who took a million out of 401K to buy bitcoin at 69K. The home equity line of credit folks thought it was going to 150K lol. Pumping 24x7 on social media, msm it not going to work. Lock in your profits and wait for the lows.
Those short EFTs pay monthly dividends
Bitcoin is linked to Nasdaq. You can watch relationship BITI and SQQQ etfs about a $10 spread between the two. When SQQQ goes down BITI goes down. Nasdaq will lead the way down to more Bitcoin lows this year.
I hear yah, you have to have nerves to steel to be shorting. One has to have there Technical Analysis to be right. Look at all time frames and see if there is bearish divergence for each timeframe.
The CME gaps on the upside are 29170, 36000, and 53800.
The CME gaps on the downside are 9600, 11200, and 20200.
I love bitcoin. The 1000 point rises and crashes are heart throbbing, to funny.
Yep. Good illustration. As they say "When you see a double top you sell a double top".
Be careful with recency bias. The marketers are pumping because they have business interests in off shore exchanges.
The monthly candle will tell of if a kiss of death signal gets kicked off for a crash in April. Where we could have 3 months of selling downturn. Then another rally in August, then more selloffs until an October low, or perhaps new low in early 2024.
Don't forget there are 2 CME gap with bitcoin futures, those gaps could be filled and will be back at 19k in no time.
Another interesting note is that markets and long with bitcoin topped out right around Ramadan. Fits in with the seasonal trading system, where folks get out in the spring and get back October/November.
Might be a good time to hedge and get some BITI. We could hit 25200 soon, and lower. Many folks are removing crypto from Bianace, not sure if they were involved in some of the 1000 point pump and dumps, or maybe cz with his 300 accounts.
Government investigators have it all from CZ (guy in charge of Binance). Chats etc from his signal app. Reported on CNBC yesterday. I wonder what else they have they have not reported....
If they find out he is involved in pump of dump, game over.
This will go into breakout mode once it hit $21.77 again. Targets are $24.23 and $25.46. Could go much higher in no time. It has a 70% chance of going into breakout mode.
I am sure you all know it time to do some risk management. Take a look at the weekly chart Ichimoku cloud. Also the weekly chart has massive bearish divergence to invalidate we have to get to 50k. On the monthly chart possible kiss of death signal on the the monthly 15 month moving average (by the end of the month) where new lows will hit in Bitcoin. Today the 9 count selloff signal was triggered 3/20/2023 for daily chart. Take a deep breath and don't let emotions get in and fool you on the latest pump.
Same type of pump and dump like penny stocks. Same patterns. If you notice social media pumpers do massive pumping when US stock markets are closed in the evening and on weekends. You will see the same posts over and over by the same accounts pumping bitcoin. Then the lever is pulled for a sell. Many of the posts are from bots.
Then there is the bitcoin futures market for shorting and going long. These factors interfere with the market supply/demand and create imbalances with the wild swings.
The fact that a EFT for spot bitcoin has not has not been approved tells us all we need to know. These bitcoin futures efts are now paying monthly dividends, too funny.
Its important to look at all time frames in the charts. I noticed that moonboy pumpers don't show all the time frames. Only one that fits their narrative. Also conflict of interest in that they are marketing for exchanges.
Maybe they have emergency funds. Many might have inherited assets from covid-19 deaths and aging baby boomers parents and oldest baby boomers.
They might not being using regional banks. Many in high tech use credit unions. They got burned by banking fees and will never ever use banks again.
Too many folks bought bitcoin at 70K. I know someone who took 1 million out of his 401K and bought at 70k. I don't see those folks getting back in.
Crypto is ai bot trading on exchanges. Its only when a large order is done that makes price move by $1000. They can turn off bots then flush out leverage longs and shorts.
The leverage trading is going to be an issue. Large accounts at 10 million usd both longs and shorts are blowing up.
Stay away from leverage.
Nasdaq will be the leader in taking the stock markets down, its target is 4446. Bitcoin bottom will be close around 5000.
Money that rotated from bank stocks to bitcoin last week is now rotating out of bitcoin.
Very good video on 9 point selloff signal that will happen on Monday, also kiss of death signal on the the monthly 15 month moving average (by the end of the month) where new lows will hit in bitcoin. He talks about triple and quadruple negative divergence signals. He explains the recent run up and the massive bear flag that is forming and why new lows will happen.
Massive Bitcoin Meltdown Starts Next Week - Those Buying Into The BTC Hype Will Pay A Huge Price
Lots of bot algorithmic trading going on. Next week will be interesting, especially if equity markets selloff happens. We will find out if bitcoin is no long linked to SP500/Nasdaq ups and down.
Audio sell signal site
mdx algo
It will say "dump it"
This one has a funny bell sound. "ding dong"
coinglass
https://www.coinglass.com/merge/BTC-USD
With both you will have to enable the bell.
20%-25% dump coming, before that we might test 28,600.
His forecasts are right on target, also in bitcoin.
Hopefully this is not an issue that impacts bitcoin price.
iBinance Says Signature Bank Won’t Support Transactions for Crypto Exchange Customers of Less Than $100K
Panic is about to hit soon in the next 5 to 9 days according to his technical analysis. This time it could hit low lower lows.
Next bitcoin crash only days away!
Others are saying a possible bottom between now and August, intermediate bottom by bottom.
Please do your own due diligence and research. Remember that this is high speculative and only a trading vehicle. Yesterday I did a swing (from Monday) and day trade yesterday to look in some profits with BITI.
for brokerage BITI. It is a short futures fund.