TonyTheBullSeverino

Quick BTC Update and Quick Lesson: Close Shorts and Different Types of Trades

Technical Analysis and Trade Update

Although this move up is just a small daily move so far, we have moved above the Bollinger Band basis on the daily, which is a sign we want to close our shorts from above the upper BB.

There is now a slightly higher probability that we tap the upper Bollinger Band again first

These next few days and week or two will be tricky, I sense

The market is heavy, but Bitcoin order books are thin and market makers can shake things up for a while

Today's daily candlestick is also a bullish engulfing, so there is likely some more upside now

Price held at former range medium despite deviation move above and rejection. This hints at another attempt at a breakout in my experience

Ichimoku shows the chikou span (dashed grey line) is passing through the candlesticks and Tenkan-sen. This suggests the chikou span would move to the Kijun-sen next, so around $76K. $76K puts BTC back into the daily clo

S&P 500: I Think The Stock Market Has Topped

Seriously. This could be a bad moment for the world that could possibly kick off a recession. If the S&P 500 drops, it could take down Bitcoin, Gold, and Silver with it

When there's a huge, fear-driven move, almost all markets sell off into cash, creating what's called a correlation one moment. It's because all assets instantly correlate to +1, because they're all dumping into dollars at once

So just because Bitcoin is looking bullish, this could be a catalyst that causes more selling in Bitcoin.

Price is struggling at the resistance boundary of a rising wedge shaped pattern. This could be an ending diagonal per Elliott Wave

Technicals appear to support this, following a perfected TD8 and TD9 sell setup. The RSI closing back below 70 will trigger selling. The LMACD is crossed bearish with a divergence. The Fisher Transform is showing the same behavior.

This is NOT good.

The one caveat. It's so early in the month these signals could be gone by the e