BTCOn a Weekly Chart
05.17..22
0846H +8 SINGAPORE
Another month has passed and we have seen our ENTRIES forecast to be right on track with our published idea.
Disclaimer:
The findings of the following analysis are the sole opinions of the publisher of this idea and should not be taken as a piece of investment advice.
My Published Ideas are not 100% Accurate. There are many factors at a given time that can change the forecast.
ALERT:
The bear tail appeared a few days ago and I believe that this will be the start of a reversal in trend. Nonetheless, we still have a war in Ukraine and US govt spending for this war is still increasing.
Let us just be cautious about our trades.
Based on VITAL SIGNS ( RSI, STOCH, VOL., MA VOL.) Looks healthy.
1. RSI 26: about RIPE for ENTRY
2. STOCHS at the HIGH is midway upwards, looking at a correction anytime soon this week.
3. Volume on the sell side has increased, the spike that we were looking for. This means we have a lot of supply in the market. BUYERS are coming in for this kill.
4. 20k zone will try to hold this as strong support, It did break the zone of capitulation and the market broke past down the bottom of our major and minor box.
It then was rejected to go further down the bottom of our zone of monitoring (yellow box.) Which is another sign that a reversal in trend is most likely to happen.
5. If things get worst, 11-20k will be my alert zone, this will be an unprecedented move for
BTC which everyone takes advantage of. This will create more than enough strength to beat the ATH and propel it to min 80k USD.Looking back since the beginning of the year,
the Market had amazingly moved along the TOPS and BOTTOMS of our BOXES, signifying TURNING POINTS of PRICE ACTION, and verified by major FIB levels.
Hoping that this MINIMALIST BOX CHART ANALYSIS will efficiently help you with your DYOR as we Enter a NEW SWING CYCLE.
INSTRUCTIONS:
HOW TO USE THIS MINIMALIST CHART a.k.a (Bento Box)
"FOLLOW THE WHITE RABBIT!"
Just Follow the TOPS and BOTTOMS of the BOXES as a GUIDE where the MARKET will take you.
TARGET ZONE IDENTIFICATION:
The LARGE BOXES (Tops and Bottoms) are MAJOR turning points that will occur sometime in the future. While the SMALL BOXES (Tops and Bottoms) are MINOR turning points.
These can be entries to a BUY/ SELL POSITION, EXIT/PARTIAL EXIT/TOP-UP AREAS, as well as Support and resistance levels
Also includes MAXIMUM TARGET EXIT AREA OF VALUE - CONSERVATIVE (If price action conditions are right at that given moment.)
If it cannot break a TOP or BOTTOM of a BOX, It signifies a reversal.
NOTE:
1. That PRICE TARGETS for ENTRY and EXITS are DYNAMIC and can CHANGE from time to time.
2. Created on a MONTHLY, WEEKLY & DAILY Analysis of a MARKET'S CHARACTER.
3. My Minimalist BOXES are designed for SWING TRADES at the LOWEST or START of a SWING CYCLE.
4. At times I will include a WAY BEYOND PARABOLIC PRICE TARGET, depending on The Character of the Market (CRYPTOS ONLY).
5. DYOR for your Fundamentals, Volume, Chart Patterns, Candlestick Math, FIB COILS ( ABC ), Price Action, FIB LEVELS, Market Dynamics, especially institutional and retailer trading psychology.
Wishing you all The Best Trades and Thank you all for your Appreciation and Support of My Work.
Much thanks to My 3 Mentors. They are so much of a Blessing that I also wish to share my knowledge.
Vive Le Autist!
Vive Le Diamond Hands!
Nota
On a DAILY Chart: I do think that as the threat of an emerging war is brewing in the South East Asian Sees between China and Taiwan, This may be part of the playbook for how the whales will wash out all positions for them to position themselves in which they failed to do so some 3-4 years ago. The first onset of the pandemic was a bonus for believers at that time. This is how they will get back in the game.Get ready for the AREA XONE OF ALERT (Red Minimalist Box)
Nota
On a 4HR Chart: The waiting game begins. Looks like Pre-Pandemic Days Looking at 20k zone then worst-case or let us just say best-case at 11K zone. Lol!
Nota
On a 4HR Chart: One thing nice about a bear tail or a falling knife to some they call this, is that it shows that a market has given up and a reversal is soon to follow. It is also a usual occurrence that it will retest that same zone of capitulation before it does reverse. If it fails for some geopolitical reason, then it will move to the next strongest support below, which I think is 20k zone. The stock market is highly manipulated by the big players, they play on emotions, Fear, and Greed. They have the ability to liquidate retail positions in order to accumulate more of the supply.
Happy Trading Everyone.
Nota
On a 4HR Chart: We have seen a break from our resistance/trend line, and targeting the next resistance at the 32k zone. If not, looking at the DAILY CHART, rejection of a bearish fib at 0.382 would mean a continuation of a down trend to the 17k Zone. We can also determine our trading ranges from 12%-20% Ave. if it continues to move sideways as it accumulates strength further within the next few weeks.
Always remember it is war-time trading and it breaks all the standards in technical analysis. Much to learn about these market crash for future use. Do not FUD, anyway, what you invested is money that you can afford to lose. Do not leverage so it only becomes a paper loss, for now.
Nota
NOTE: My idea is for a downtrend bias.Nota
Nota
On a 4HR Chart: My Bearish Bias Nota
On A DAILY Chart: There you go, if it breaks that trend line (green) we will be headed towards the zone of capitulation. Nota
On a 4HR Chart: There we go Nota
On a DAILY Chart: Adjusted my entry points. Entry 1 just now. Nota
On a 4HR Chart: Nota
On a DAILY Chart: Some adjustments. Institutions and whales are pounding it. If we are lucky they will FUD it to 10k Zone. Let us see how it will turn out. I guess when they have reached their target, they will declare peace in Ukraine and the recession will be over. Nota
Nota
On a DAILY Chart: Fib reversal way at the bottom at 11k zone. Well, this is if it continues to break every support Nota
On an 8HR CHART: If the market finds resistance at the bearish 0.382, It will continue to the next support level at the FIB 1.272 and or 1.618. This will be at the 14k-17k zone.I do think that the whales will really push it down to the level of the bull run that they missed.
I am still bearish about this, not until it shows signs at the 16k-19k level, and if it does establish a trading range.
The market is about to break the bottom yellow minor box, and when it does, it will try the bottom of the red minor box.
Nota
ZOOMED IN 8HR Chart: Nota
Nota
On a 12HR Chart: Nota
Why I think it is still bearish: Nota
Trading the 4HR Chart: Will likely rally after fib correction then bull trap at the bearish retracement 0.382 that will further push the market down to the 14k-16k zone. Nota
Nota
On an HOURLY Chart: If it does hit the fib extensions, is this a double top that will push it back to the 17k zone, or will it go past the FIB 1.618, then retrace either at 0.382 or 0.618?Nota
Nota
Nota
Trading the HOURLY Chart: Nota
Still Bullish making higher lows and a bounce at bearish FIB 1.272. Probable false breakout on the trendline. RSI on the low shows an uptrend.Nota
ON an HOURLY Chart: Washing and Rinsing of all positions down to the 20k zone Nota
BTC BEARISH ROAD MAP 
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.