Daily 4XSetUps - BTC1! It`s Play-Off Time Baby (4:0 For Bears)

2024/10/22
Daily 4XSetUps - BTC1! It`s Play-Off Time Baby (4:0 For Bears)
“are the BTC1! bears simply too strong above 66000 USD and more!?
are the BTC1! bulls simply too weak above 66000 USD and more?!”


The commodity price action made music 'around the globe' today.
MCX:GOLD1! marked another record high, already the 45th in this year 2024, but MCX:SILVER1! has also improved significantly again in the chart with today's increase. The stock markets, on the other hand, are also digesting the profit-taking at the start of trading, which was triggered by increased yields. Particular attention was paid to the strong figures from NYSE:GM and NYSE:PM and the weak figures from NYSE:GPC. The numbers from NASDAQ:TXN were also on the calendar after the trading session - but I haven't had a detailed overview of them until now.

However - basically, the current price action in BTC1! looks bullish.
Not only because the last bearish GAP was confirmed in the last calendar week! What? Yes, the 3 SMA trend lines (200, 100, 20) were also confirmed. What all together brings even me too to a BTC1! bull - since last weekend. That's why let's focus on the basic price actions area, for this long BTC1! 4XSetUps - at least, in my humble opinion.

67670 USD - (2024/10/22) - last price action
67778 USD - (2024/10/22) - SMA 120 hl2 (4 Week)
64343 USD - (2024/10/22) - SMA 480 hl2 (4 Week)
62470 USD - (2024/08/02) - GAP Upper Trend Line
61961 USD - (2024/10/22) - SMA 1560 hl2 (13 Week)
59445 USD - (2024/08/05) - GAP Down Trend Line

“If you are not aggressive, you are not going to make money, and if you are not defensive, you are not going to keep money.”
Ray Dalio

But let's not look too far ahead on the timeline. Let alone too high on the price axis. And let's focus on the short-term price action, in BTC1!, this calendar week. 2 Candlesticks are particularly noticeable - for bulls and/or for bears. Because these two 1-hour candlesticks - the 1st green bullish and/or the 2nd red bearish - seem to manifest something like an upward trend that has ended for the time being. Possibly perhaps even the end of the bullish rally!? The beginning of a bearish rally?! And that, if you like, digitally analogue, both on the daily candlestick timeline and currently on the 1h timeline.

However, be that as it may, nonetheless I'm pretty bullish on BTC1! - as long as the price action is trading above the last GAPS and/or the 4-week trend line. Which are currently at USD and/or USD today - + USD and/or + USD above the closed price action of USD today,

68225 USD - (2024/10/15) - Above Average Bear 1h High
68045 USD - (2024/10/15) - Above Average Bull 1h High
67670 USD - (2024/10/22) - last price action
65980 USD - (2024/10/15) - Above Average Bull 1h Low
65385 USD - (2024/10/15) - Above Average Bear 1h low

The BTC1! Bulls lack strength!? of courage!? of imagination!?
And that is entirely justified! Because the bears have already beaten the bulls in BTC1 4 times this year 2024 - learned to fear this in the course of 2024! While the last year 2023 went exceptionally well for BTC1! This year 2024 is a disaster, if you will! It`s play-off time baby - 4:0 for the Bears. Fasten your seat belt - and don't lose your nerve. Basically, always operate with an entry price, an exit price, and only a certain percentage of your total portfolio value - especially in the case of BTC1! However, if the previous annual highs in 2024 will be regained by the end of 2024 - that is what this long BTC1 4XSetUp is aiming for - there are no more upper limits! Only new all-time highs ahead...

67670 USD - (2024/10/22) - last price action
70825 USD - (2024/07/29) - high of July 2024
72660 USD - (2024/06/07) - high of June 2024
73380 USD - (2024/04/08) - high of April 2024
74415 USD - (2024/03/14) - high of March 2024


Have a good time
- regardless of the price action!
Aaron



“daily 4XSetUps - …” is pure information material!
By trying to give you even more information about some trading capabilities to trade and/or invest in some securities. This post is not a call to action - it only provides information. You decide (not) to decide. Even if I am writing daily 4XSetUps with concrete entry prices, target prices and/or also stop prices! It is like it is - like I said; You decide to respond to the analysis I just formulated to buy, to sell, or to do nothing! More information about my approaches to investing in something specific or just trading it, or even just describing it, can be found in the daily "Another 48h - DXY ...! Analysis Post. Where I try to track the price action in TVC:DXY every day so that we learn something new daily.