The medium-term view is generally bullish, and it can be considered the end of the bullish cycle for BTC. My strategy is to follow the medium-term trend to trade short-term, which is why I prioritize going long at this stage instead of shorting. The market is very volatile, so when I enter a liquidation, I always have to be at the last support point to reverse the major trend, which here is at the price of 95k, and I am ready to cut losses partially if the daily view is bad. Understanding the strategy and having a clear plan will help me survive during volatile days; one should not trade futures without a clear trading plan!
Take a last look at the chart and trendline I drew. The strong support for BTC throughout July and possibly extending until the end of October! The price could drop to 114, but support at 116 still needs to be maintained by pulling the wicks back up.
Now I predict for the next 1-2 months based on technical analysis and wave trends, whether you believe it or not is up to you! $BTC
The current market is at a very sensitive point as it is about to start transitioning into phase 2 and phase 3 of wave 5.
Currently, there are many idols shouting that altcoins have hit their peak, and there are also groups calling for shorts because 'it could' be a temporary top and a deep correction is needed!!!
I only provide advice and core principles during important times like this!
1. Do not listen to any KOL or idol and foolishly go all in. 2. Do not go against the wave; even if there is a correction, do not short unless you already have a long position and want to short for protection. 3. Divide your capital, wait for orders at support points in the 4H - 1D timeframe. Important EMA lines! 4. Phase 3 is the push wave of the top coins; BTC will lead the trend (but it will also be the first to fall) 5. Enter orders and wait; do not meddle.
The market is in a 1 down 5 up position. Those who jump in and out must have the courage and good capital management skills to play scalps; otherwise, just wait for correction and long, then leave it there.
$ETH has signs of distributing goods in the range of 3500-3600. The quantity of goods is not much and may not affect the price. If you see the queen's sw in the next 1-2 days, then prepare to adjust to go long again! $ETH
Since the beginning of the week, I have! Call long BTC at 115-118 Call Long ETH when closing the candle above 3100
Yet you keep waiting for a deep correction, bad candles, or listening to someone say BTC will drop to 106 like an ostrich 🤡. The current market straightforwardly says to place Long - hold onto profits!
If you want to find a potential "meme coin" to play this altcoin season, I recommend this one. Currently, fartcoin has broken out of a short-term uptrend and entered a long-term trend, and is being heavily held by guys in South America.
Starting from today, you should gradually pay attention to memecoin or shitcoin. When BTC reaches its peak, it will spark a wave of FOMO, which some idols often refer to as 'mini altcoin pumps', and at that time, meme and shitcoin will soar.
I don't understand why people always try to block the train when they see something red! Update Thursday - 17/07 the price is as shown, mint money waiting to be pushed!
ETH went up to 3100 yesterday and I already reported breaking through the wall straight up, fomo long a bit late but still made 5% gain Fartcoin also made a 17% increase!
Now just waiting to find the top coins to long again and wait! Hehe
I am really hoping that the organizing committee can adjust back to the support levels of 116 or lower to have a better long entry. Going straight up now doesn't gain much at all 😕
It's that time again! Important economic calendar for today! The PPI index affects the Fed's decision on interest rate cuts and the dollar.
If PPI rises high - the Fed has reason to continue keeping interest rates unchanged (even though it has confirmed over 90% that interest rates will remain unchanged in July) BTC will be negatively impacted.
Currently, there are 2 unstable cash flows to analyze. - 700M USDT transferred from DeFi to DEX (let's call it borrowed money sent to the exchange) just when the BTC price quickly reacted pushing it up to 119-120.
However, the current cash flow smells like a long trap, pushing the price to distribute very high because it is borrowed money, not newly minted money!
If we want to break the ATH again - there must be signs of minting more new money - borrowed money is not for long-term purchases!
Hypothetical situation: Push the price up to 120-124 to create 2 peaks and then gradually distribute down to 113.
You should consider entering a short position if you see price wicks in the range of 120-124 and limit FOMO longs!
Brothers and sisters, play Altcoin carefully and continuously monitor the BTC Dom. Currently, BTC has not reached the peak wave, so Altcoin ss has not appeared, and we are only in the initial fomo phase.
DOM is at a level close to the EMA50 support - a very important support framework to change the trendline in technical analysis, so there may be a rebound force.
Along with that, if BTC wants to continue to rise, it will drain Altcoin to increase - meaning temporarily taking profits and adjusting for some coins.
These are my assumptions about BTC and Altcoin at present. Just consider carefully, it's not investment advice!