BTC Signal
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[Music] Hello everyone. I hope you guys are having a wonderful day, making some really good trades as per usual. Let's dive in into some analysis here. So, looks like right now uh Bitcoin is trying to is trying to slow down its sell-off. You're seeing a little bit of deceleration in terms of the price action. We're not capitulating like we were since like 107. It's been kind of steadily slowing down as we enter the long-term accumulation range. Again, the range can stretch to as low as 74,000, but I really don't think that we're going to go that low, although we could get another sweep of 80,000. It's a possibility, right? So, in the event that that does happen, it's just another opportunity in my opinion to accumulate at some cheaper prices. Uh right now, you could see that Bitcoin is uh sorry, I'm trying to get back onto this indicator has printed a buy signal on the cross cross X indicator. We're pretty oversold. We've seen a big big sell-off in the markets. And I mean, this could be what the market is has been waiting for right now. Now that you know the price has dropped 36%. You're ready to sell. Are you ready to start shorting? I mean, usually you start buying on the dips, right? And this, in my opinion, would be just another dip to buy. Um, so I'm looking for maybe one more low, but again, don't put your don't put your uh, you know, don't put the farm on it because you could easily continue to push higher. Right now, we're doing a little bit of short-term trading inside the Discord. We caught a little bit of a short at the moment from 89,000. Just debating if we should be closing that one because you're starting to see green money flow up here on the 1 hour time frame. Uh you can see red money flow has been recovering on the 4 hour as well. Uh daily time frame printing some bullish signals right 23 and a minus five on the dual bend strength index. Uh the weekly time frame uh slowing down just a little bit looking a little bit less bearish. And on top of that, the two-day time frame, you got a big green dot printing. You have a big buy signal that's essentially printing at the lows. In the daily time frame, you also have a couple green crosses that are printing down here, right? So, capitulation, you kind of got it, right? Most are still calling for new lows. And I mean, again, the trend is your friend until the end, right? So, right now, we're in some sort of short-term downtrend, but the macro is still bullish. So, technically, this could just be another pullback before more highs. And what happens if you get a V-shaped recovery? Then there you go. Then everyone that's calling the top a crash, oh, that's it. It's the end will be wrong again. And they'll just delete all their posts and they'll just keep going right until they get it right until they get them the 80% crash. So, right now, the dollar is Oops. The dollar is seeing some more uh strength. So, I think the dollar could actually push into this area or maybe at least make one more high and at that point I think uh bit the low in Bitcoin would be in if once the dollar hits this area or if it does hit this area, this is where I think it'll bottom out. But until then, uh Bitcoin can continue to chop around and maybe even sweep these lows. But I see these as opportunities, right? And I have this as a big impulse right now or some big uh connector. So it could easily be some sort of one two three four five, right? And it would go lower. But uh just by the look of it, it what happens if if we start to extend back up into like 97, then you could call this a flat or you know there's multiple ways of charting Elliot wave, but it's getting a little bit complex. The the best thing to do is also look at your daily cycles, right? And your your weekly cycle. So, right now the day the daily cycle should be coming to an end here, right? We're starting to see a bit of a breakout. You did get that daily cycle breakout, but it doesn't prevent it from coming back down and retesting the downtrend line. Right? What happens if you do this and then you take off? That case, the price could easily come back down, make another low, and then take off. Right? Now, we have full-on capitulation and we have no divergence at the lows. So, this tells me that this could be just a wave two finishing up and this whole thing was an impulse. This was a flat and the flat took us all the way back down to 80. Now, you flushed out a lot of the long-term holders because they got scared. They missed the whole move. They they want to leave at least with break even or they want to get out. We're at big we're at big chart support at this moment, right? Right into this area. There's some support. So, this is why you're probably seeing the price start to stabilize a little bit. So yeah, that's what I'm seeing, guys. I'm still bullish on Bitcoin. I took a little bit of a short-term short trade right here, but might just close this one off in profit because we could easily start to continue to pump up, you know, squeeze some more shorts and, you know, it could get could get uh could get ugly for the shorts if you're starting to short at the lows. Uh but yeah, I'm looking for the trend to probably come to an end soon. We are seeing some good indications of that right here on crossex and some good indications on wave edge as well. I'm waiting to see like a larger time frame like 3day and 4 day to start to print uh buy signals. Then that's going to give me the confirmation I need for the price to go higher. Okay, and that's it. We're going to keep it simple and we're going to continue to trade and we're going to continue to make money. Peace.