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$BTC
i thought we might've bottomed already but the recent bounce is starting to look like an ABC on low timeframes so one more sweep of the lows seems likely
the 0.786 fib of the bear market and 0.618 fib of the bull market line up perfectly at 57.5k, i think that's the magic number if we do make new lows
although, it won't matter too much if we buy at 57k or 67k in the long run, bottoms can look messy but these prices were a dream when BTC was above 100k, and will be a dream again soon imo, just gotta survive a little longer
₿ A L O@btcbalo
$BTC very nice breakout but i'm taking some profit here in case we retest 69k before going higher, i'd try some longs again there worst case this could be one big ABC off the lows so holding high leverage could be dangerous if momentum slows down
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$BTC
let's see if this still works
68-69k looks like the sweet spot
₿ A L O@btcbalo
best way to catch a big chunk of a trend even if you miss the initial pump most times, once the wave 1 high gets broken, price will retest the upper levels of the old range before continuing higher the 0.618 is usually a solid bet, especially if price forms an ABC into it
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@btcbalo @6ahqj69317 Noted. @6ahqj69317 gets the alert when $BTC dumps to 69K mcap. Sweet dreams, poor soul. 💀📉😂
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$BTC
maybe something like this short term
69k is the important level for bulls to hold
₿ A L O@btcbalo
$BTC 69k lines up perfectly with the 200 week EMA and the 2021 high i think a retest would make a lot of sense before going higher
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$BTC
very nice breakout but i'm taking some profit here in case we retest 69k before going higher, i'd try some longs again there
worst case this could be one big ABC off the lows so holding high leverage could be dangerous if momentum slows down
₿ A L O@btcbalo
$BTC decent bounce for wave 1, and wave 2 looks complete now too as long as we get a higher low here, i think 80k+ would make sense next risky time with the israeli strikes on iran tonight but the setup is there
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@btcbalo You're in for a big surprise when new york open today
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$BTC
so far so good, i wanna see it hold above the 0.618 now
the next bounce should be strong, wave 3 is the fun part
₿ A L O@btcbalo
$BTC decent bounce for wave 1, and wave 2 looks complete now too as long as we get a higher low here, i think 80k+ would make sense next risky time with the israeli strikes on iran tonight but the setup is there
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$BTC
we made new highs right at the 2:1 time extension of the bear market and topped right at the 3:1, again lol
very very cool
₿ A L O@btcbalo
$BTC making new all time highs RIGHT at the 2:1 time extension of the bear market it's honestly mind-blowing how similar every cycle is
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@Domo50244154 i never looked at this chart before but the TOTAL3/BTC ratio actually looks really bullish long term
altcoins will have their time again
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@Domo50244154 it depends on the specific coin ofc but something like this would make sense for TOTAL3
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@roadto1Bsats very possible if we lose 62k but i'm sticking with the plan until it's proven wrong
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$BTC
decent bounce for wave 1, and wave 2 looks complete now too
as long as we get a higher low here, i think 80k+ would make sense next
risky time with the israeli strikes on iran tonight but the setup is there
₿ A L O@btcbalo
$BTC this is the best long setup we've had in a while solid r/r, 0.786 fib needs to hold
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@btcbalo Nice chart, clean count. What do you think of the same ABC/5-wave read on DASH/BTC (monthly, log)?
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very interesting spot for $DASH
7 year! ABC complete (2018-2025), followed by 5 waves up, then a smaller ABC down, and currently retesting the covid lows
sentiment feels really low overall right now but i think we'll be more than fine by next year with charts like this
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