Joined July 2021
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Market update video just posted! Not a ton has changed since my last video, but I thought since it's been a couple months I'd do a refresher. youtu.be/66sn9Loxi8c
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If you can't see any possibility for significant upside on Bitcoin and alts here, then I would say to make sure you aren't getting blinded with bear goggles. Weekly bear div with sfp is not something to ignore. I'm posting USDT dominance because it just shows a different angle that can sometimes help people view it from a different perspective. Any good setup can be negated obviously but this is a solid setup for a top signal (bottom signal for crypto) regardless. Good idea to keep an open mind to any possibility, I'll keep following the ltf structure as I have been.
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Bitcoin just shifted the ltf structure to a more bullish tone for the first time since the dump from $82K began. This means it makes sense to look for more upside and so far, the level to hold a higher low is marked at $59K. I'll now track this ltf uptrend and see what it gives us.
Bitcoin still sits in the same consolidation within the context of its current downtrend. Indicators have already reset so could see a continuation down soon if this can't flip the ltf structure bullish and gain some momentum. Weak move up so far. Nothing to get hyped about for upside yet objectively.
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Worth noting that every other significant bottom on CRV before a sizeable rally did form a base with a retest first before the larger move up really began. Seems to be something of a 1-2 month process based on previous times so it wouldn't be surprising to retest around 20 cents before the real take off. We will see. If 20 cents is hit it sure looks like another good time to take a swing at CRV.
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Momentum printed a bear div after some more pushing up which led into this current pull back on CRV. The pull back is now forming hourly bull div which could mean a bottom is close and CRV is preparing for its next follow through to the upside. The short-term outcome probably has a lot to do with how Bitcoin holds up; I'd like to see Bitcoin also break into an uptrend as well so that some downwards pressure can be lifted off CRV.
And with that being said CRV then spits out it's largest move yet and making another round of new momentum highs which means this has more to go. Looking fantastic, should get a pullback at some point but not ready for that yet due to the strength of this momentum.
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Bitcoin still sits in the same consolidation within the context of its current downtrend. Indicators have already reset so could see a continuation down soon if this can't flip the ltf structure bullish and gain some momentum. Weak move up so far. Nothing to get hyped about for upside yet objectively.
Another update to Bitcoins ltf downtrend here. Bitcoin maintains the downtrend unless the marked level is taken out on close. If the structure shifts bullish, I will then follow the ltf uptrend but for now it's still bearish.
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So many weekly bull divs across the crypto market. This is something that almost never happens. This is the time to take action and if these cross up for full confirmation it's really go time for bottoms being in across the board IMO. This is indicators screaming DEEP DISCOUNT!
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And with that being said CRV then spits out it's largest move yet and making another round of new momentum highs which means this has more to go. Looking fantastic, should get a pullback at some point but not ready for that yet due to the strength of this momentum.
Yep, CRV looking even better now making the bottom being in that much more likely. Momentum on ltf is only accelerating still which means this has plenty of room to keep chugging along to the upside. Another bullish factor is OI is barely moving; leverage traders are not even interested yet.
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Yep, CRV looking even better now making the bottom being in that much more likely. Momentum on ltf is only accelerating still which means this has plenty of room to keep chugging along to the upside. Another bullish factor is OI is barely moving; leverage traders are not even interested yet.
Decent chance this marks the bottom for CRV with the htf double bullish divergence and sweep of lows. Unfortunate that the long around 20 cents was stopped out but plenty more opportunities to come.
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Another update to Bitcoins ltf downtrend here. Bitcoin maintains the downtrend unless the marked level is taken out on close. If the structure shifts bullish, I will then follow the ltf uptrend but for now it's still bearish.
There's a new level to hold this ltf downtrend now that there's more follow through. Still tracking the same downtrend here while we sit in htf bearish structure as well. No reason to look for upside unless at least the ltf downtrend breaks bullish.
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Litecoin swing long entered. Weekly bullish structure at a deep discount in that context. Weekly bullish divergence. Swing failure off range lows. Bonus is that the LTC/BTC pair also has all kinds of htf bullish divergence.
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Decent chance this marks the bottom for CRV with the htf double bullish divergence and sweep of lows. Unfortunate that the long around 20 cents was stopped out but plenty more opportunities to come.
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This is a great time to tell your wife the kitchen remodel is going to have to wait because we need more magic internet money at cheap prices.
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CRV long was taken out at 0.18. Not super interested in another long trade until some ltf structure is reclaimed but definitely interested in grabbing more spot. The only issue is I want more of all my favorites at these prices but don't have much dry powder left to deploy😅
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Lots of weekly timeframe bullish divergence in the crypto market! If you haven't been dollar cost averaging into your favorite long term holds, I'd say it's a great time to do so. This is the time where you can stack up cheap and then just chill during the upswing with a great average price.
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Decent reaction so far on the CRV long, this will make 5 weekly swing failure patterns down here if this holds up on close. Clearly there's a lot of demand down here to get this many swing failures on the weekly.
Just longed CRV seeing as it made fresh lows, this is the exact same setup as my previous long that got stopped at breakeven so just a reentry at a better price. I still maintain my bearish stance on Bitcoin until it reclaims some bullish structure but as I've covered BTC Dominance was expected to tank and it has now started tanking so there's some hope for alt relief.
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Just longed CRV seeing as it made fresh lows, this is the exact same setup as my previous long that got stopped at breakeven so just a reentry at a better price. I still maintain my bearish stance on Bitcoin until it reclaims some bullish structure but as I've covered BTC Dominance was expected to tank and it has now started tanking so there's some hope for alt relief.
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There's a new level to hold this ltf downtrend now that there's more follow through. Still tracking the same downtrend here while we sit in htf bearish structure as well. No reason to look for upside unless at least the ltf downtrend breaks bullish.
Just like on Bitcoins move up with the ltf uptrend we can now follow the ltf local downtrend here. Unless it changes the structure on close at the current marked level we maintain the local downtrend.
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Others maintain strength while Bitcoin broke down from its ltf uptrend. Bitcoin dominance also keeps dropping the last 4 weeks and looks like the bearish weekly structure may be ready to continue down. Interesting developments on both htf and ltf charts with altcoins holding htf bullish structure. I think there's something brewing and altcoins should not be written off. It's been a weird and difficult market for altcoins the last few years, but when people lose hope is when the next run begins.
In my previous post I mentioned how total3 and others interestingly maintain their htf bullish structure unlike Bitcoin which might point to something more bullish brewing than meets the eye if just covering Bitcoin alone. Some additional things marked in my charts like hidden bull div, and oversold resets also signal the potential for some unexpected bullish action with altcoins. Something else that supports this possibility is the Bitcoin dominance chart which is also set up perfectly to continue down on high timeframes. When these charts both line up like this it's certainly worth taking a look and considering a more bullish view.
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Others sit at 2021 prices so have had a lot of time to digest all that crazy upside seen at the time. Perhaps ready to go again.
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