Hey everyone. I haven’t posted much on here lately because honestly it’s a bit time consuming and I just haven’t had the time lately. (although I wish I did) However, I have been posting updated and some charts on my Twitter channel because in that way I can be more brief. When I publish on TradingView, I like to put time into my work and also add a good description to go along with it. I think what I will try to do from now on is I will post major/important updates and charts on TradingView & Twitter . Those charts will not be as frequent as the short updates that I will only post to Twitter (although they usually contain links to TradingView charts/images)

If you’ve been following the Crypto “news” lately you’ll know that some big things are happening FUNDAMENTALLY that I PERSONALLY believe are not fully priced in to the charts yet. More regulatory information and structure has been provided to the people in Europe and also the USA seems to be following along. I think this will ultimately cause a macro trend reversal.

If we zoom out and look at the RSI on the daily chart , It has been making higher lows since the end of January after it entered the “OVERSOLD” area. A reversal on higher timeframe charts such as this one TAKES TIME.

A MACRO TREND REVERSAL DOES NOT HAPPEN OVERNIGHT. You need to keep that in mind. This chart shows a possibility where BTC price drops for 2 weeks straight AND STILL it would not Invalidate this idea of a macro trend reversal.

TIMEFRAME is a VERY IMPORTANT thing to consider before you even buy any cryptocurrency whatsoever. Sometimes looking at a chart with a couple upward lines on it makes you feel like the price is going to go up in no time, lol, I’ve been guilty of this myself as well. It’s very important to always keep in mind the timeframe and look at the dates on the bottom of the chart to get a good idea about how long a pattern might take to actually play out! A lot of people don’t have the patience and just sell for a loss because they want to find something that is going to make them rich overnight. (Good luck with that) That is a very UNREALISTIC expectation which will likely just frustrate you and make you give up before even seeing the bigger picture. THERE IS A LOT to see so always keep your eyes and your mind OPEN!

So this chart shows two areas circled. The left area is May-July of 2021. It took 2+ months for that reversal to happen. You’ll also notice the 3 times it tested the 30K area as I have them labeled for you. The current pattern we’re making is very similar to the one from 2021. So far we’ve had 2 tests which have both bounced back up to the 40K area. Will we see a 3rd test like we did last year? IM NOT SURE (nobody is) but I DO THINK there is a decent chance of it happening. The reason involves Wyckoff theory and the idea that the “composite operator/man” ( aka WHALES) have a large amount of money and can manipulate the market to their favor. This is why you see so many bull and bear traps. If the whales are going to be buying A lot of crypto, they’re going to need a lot of Sellers who will sell them the crypto. What better way to make a lot of people sell than some “NEWS” (FUD) and a good ole BEAR TRAP? They don’t want everyone longing with them. They may put out FUD and sell huge quantities of crypto so the price falls and everyone is fearful and “panic-selling”. That’s usually about the time they buy MASSIVE AMOUNTS causing the bear trap, and tons of long positions will be liquidated. Another way they make people sell is by making the market “boring” or drag on and on to the point where people lose interest, and then, BOOM. (right when you look away)

You have to move WITH them. You have to kind of put yourself in their shoes and ask yourself what you would do if you were them. Once you can learn to DANCE with them instead of stepping on their toes, everything will click!

So when you look at BTC on the 1HOUR charts, It’s hard NOT TO BE BULLISH , but when you zoom out further and look at the 1DAY chart things change. Looking at the similar situation from last year takes the BULLISHNESS away really quickly, ESPECIALLY when you add in the bit of Wyckoff theory I mentioned above.

THE ANSWER IS: NOTHING is certain. All we can do is make educated guesses based off of LOGIC and historic DATA.

Well that’s it for this chart. Please like, follow, share, and comment if you’d like. I just wanted to point out that BTC is NOT out of the woods just yet and a drop to the lower 30K area is definitely still possible. DONT GET IN OVER YOUR HEAD and be TOO BULLISH (there is such thing) because that’s when people FAIL TO RECOGNIZE the potential downside risk. … ALWAYS ACKNOWLEDGE BOTH SIDES!