Joined September 2024
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Look how precisely we have tracked the parallel channel i have given in November 25 and prior to that as well Marking majority of key lows and tops on Bitcoin Pay attention!!!!
The Beauty of BITCOIN's Parallel Channels - Bitcoin have been trading in two parallel channels majorly from a very long time - The bigger channel is the white one with major cycle/local bottom & tops - Within that exist a mini yellow parallel channel, that is respected quite often - As you can see both the channels acts as major resistance and support every now & then - The current low was a perfect example showing the importance of these channels - The chart has guided key trend changes and price directions - The yellow channel is the new range for BTC until things change A key chart to look at when you are looking at directions in the market
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Bank of Japan Hiking Rates Soon - Rate decision date: 16th June (IMG 1) - 1.0% from 0.75% hike - PPI Inflation data came out yesterday for them (IMG 2) - Act 6.3% vs exp 5.3%, huge jump - Total of 2 rate hikes expected now till December - Overall BOJ raising rates have been bearish events for Bitcoin in the previous history
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Global Markets are red ahead of: - CPI & PPI (Wed & Thursday) - SPACEX IPO (Friday) - BOJ Rate Hike (June 16) - No resolution of war Brace for impact
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S&P500 Current trading channel Respected right at the top
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CPI Day tomorrow, Jun 10 - Release time: 8:30 ET (Consumer Price Index) - Headline exp is 4.2, previous was 3.8% (Big jump here) - Core excl food & energy is 2.8%, prev 2.7% (Not much uptick) PPI Day on June 11 - Release time: 8:30 ET (Producer Price Index) - Headline exp 6.4%, prev 6% - Core 5.4%, prev 5.2% Since the last PPI reading was way hot (6 vs 4.9 exp) and PPI is always leading CPI, we can see a surprise hot reading too above expectations (But in can take couple of months for ppi to reflect in CPI)
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BTC against Gold/SPX is not looking that great
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BTC has totally Decoupled from Global Markets While every other asset is running, BTC is underperforming badly
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Bitcoin's new support is 71k - 50% level of prior bull run - Acted as major resistance and support in this range since feb
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Semiconductors Overheated - The SOX semiconductor index is sitting at weekly RSI level 86 - The index is up 277% since last bottom in March/April 2025 - The level of surge in price often leads to a major correction - Gold did the same this year - The level on RSI goes back to 2000 and 1995 - This is how overheated we currently are - While the trend feels fun, the music can stop any moment or can stay overheated for a while too - You can clearly see what happened last time when we were this overheated 25-30 years ago - Semis now accounts of 23% of SPX, in 2022 that figure was around 2% only - Semis has played a significant role in SPX run lately and now they seem far overstretched Something to consider while looking at the bullish markets
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Bitcoin Weakest Cycle from Halving (ROI) Just up 20% since past halving
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SEC proposal may allow trading of company stock tokens without the underlying firms’ backing or consent - These tokens enable speculation on stock price movements and would trade on decentralized crypto platforms. - They won't automatically carry full stock benefits like voting rights or dividends - Platforms must offer key investor protections (or equivalent benefits), or they can't list the tokens
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BTC/DXY at an Important Support - Bitcoin against DXY back in action, support and resistances are quite precise on this chart as you know - We are right at the blue trendline support now, most of the time BTC took major support at this trendline - We are finding some support at this level currently, if held can act as an area or strength, momentum has not yet flipped to the upside but oversold on 4H - If lost, BTC will quickly follow to lower prices Watching this closely Something to look forward to in finding direction in the markets
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SPX/USM2 Money Supply - S&P500 against USM2 has been following a similar fractal to 1999/2000 top - Its wild to think that we currently have taken resistance (top) exactly based on this chart - See how we touched the highest point form back then and rejected precisely - The fractal still stays intact unless invalidated Keep an eye on this one, for now it says a pullback is coming
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Bitcoin Breaks the Market Structure BTC breaks the higher high & higher low pattern... First lower high and lower low and breakdown of the trendline has happened since the bottom from $65k
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STRC Demand Weakness Chart 1 → The above chart shows STRC>100, saylor buys BTC (Only big buys shown in billions) → The sooner STRC>100 the earlier he can start raising before the dividend date → In April and March saylor was already raising and buying through STRC at this time → We are late this month with everyone pricing in big saylor buys
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Chart 2 → The chart shows the raises in previous month → The trend: higher the STRC > 100, larger can saylor buy during that week → Trading longer just above 100 can also give some ammunition → Note in Feb STRC>100 very short amount of time and very less upside>100, therefore less buys → Note, in Jan he raised big even when STRC reached 100 on 7 Jan (Close to dividend date) → Because the demand was higher for STRC and it went well above 100, highest in few months → Also the distance above 100 has been decreasing in trend (Each month) and this time we are late to the party too, could be a concern but will depend on the demand when and how much we go above 100 → In both April and feb Saylor bought for 3 weeks since STRC was trading near 100 3 weeks prior to dividend date (IMG 4 shows record dates is 15th of the month) → We are at 6 May now, STRC still not above 100 Something to keep an eye on...
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Bitcoin Fighting to close above $79.1k - A key Fib level from prior leg down, fib levels has been major turning point for BTC Key an eye on this one...
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BTC trying to break above the key RSI patters, bull market support band, bear flag.... Even if it breaks above, there is plenty of resistances waiting ahead
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Outlook from Google report on "Safeguarding cryptocurrency by disclosing quantum vulnerabilities responsibly"
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BTC/VIX chart at important support zone If this fails BTC might be in trouble, if this holds BTC will show strength
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