CryptoQuant Alert

2021-06-28 16:54:28 IMPORTANT BTC UPDATE

We are sorry that we don't post a lot of posts & updates recently. There is just no point in doing this. The market has entered the full-fledged consolidation phase.

At the moment $BTC formed a horizontal channel: low range is $29000, mid range is $36000 and high range is $41000. Moreover, there is a crucial support at the $32000 level.

The trade plan is absolutely easy for now: entering small scalps with tight stop losses. Open LONG near the support with the stop tightly below it & open SHORT near the resistance with the tight stop loss above it.

Once the high or low range is broken, we would decide the further global movements. As long as we stay inside the channel, we only do margin trades. Open / Comment

2021-06-27 11:06:01 #Bitcoin pushed above from its major support level and hits the $33,000 mark. Well, #Bitcoin should break above its strong resistance level of $35,000, to get a clear direction. Currently, #Bitcoin is ranging from past 35 - 40 days. Let's wait for the market to give a clear direction. Open / Comment

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Contact: @ki_young_ju Open / Comment

2021-06-26 09:38:57 Yesterday, #Bitcoin took a strong sell-off from its resistance zone, maybe the reason is whales also loaded a huge shorts position. #Bitcoin almost entered its major support level. It's becoming too much choppy, we might see some bullish movement from the end of the July. Open / Comment

2021-06-25 12:04:21 Breaking News:

President of El Salvador @NayibBukele announced every citizen to receive $30 worth free #Bitcoin. 

“The wallet app will even work anywhere with a cell connection, and you won't have to have a cell plan for the app.” Open / Comment

2021-06-24 19:45:27 BITCOIN - Either Way, Lets Make Some Money!

Recently Bitcoin has been really confusing and it has been difficult to understand whether price will go up or down. In such cases, it is important to prepare for both scenarios and so we've put together a chart explaining how to trade in either directions.

BUY Scenario
The price we're looking at is the $34,700 where we have previous structure. If price breaks upwards, we will be looking to get in on the retest of that structure. We'll be aiming for the previous high of $41,000

SELL Scenario
If price rejects the $34,700 level and fails to break it, we can assume that there isn't many buyers to push Bitcoin up again in the short term. We will wait for a clean break of the 30K level and then get in on the retest as indicated in the diagram on the chart above. Open / Comment

2021-06-23 15:34:38 BTC/USD

We are beginning to see a lot of panic and uncertainty in the market, which, as I said, creates massive liquidity for whales to take the market in the opposite way. If we fall below 30K and don't recover, where could the price go or find some support? Historically once the price has surpassed the previous cycle low, it has never retested it. In the chart above, I have a few targets where I will be looking for support. We have some support located 25K, and the most significant is located between 19k/20K

Historically after hitting a cycle, top price proceeds to have an 80% retracemment which gives a retracment target of 13K

Two things make me think we are NOT in a bear market just yet.

One: The length of time of this pullback is very compare to the previous bear market, which lasted years.

Second: Market sentiment is at extreme fear, and again, historically, the market doesn't usually crash in extreme fear.

Regardless what happens, great from this situation great opportunities arise. Open / Comment

2021-06-22 20:01:28 #Market UPDATES

Bitcoin below $30K, but it's OK
Chinese mining ban is good for crypto
Let the gains come to you

3 reasons why Bitcoin below $30K is OK

You've seen the headlines. Bitcoin is below $30K for the first time since blah blah blah.

We get it, BTC is down. Start by asking yourself — what's the point of the endless doom and gloom Bitcoin headlines?

The answer is a simple one. These headlines create even more downward price action, all of which is meant to try and shake you out of your coins.

But guess who's on the receiving end of Bitcoin sold cheaply? That's right — the exact same people and institutions creating FUD now.

So don't take your eyes off the prize. Here are 3 reasons why BTC below $30K is fine.

Zoom out. last year, BTC was $5K. Prices are 400%+ since then.
Reset. Run to $60K created greed. Corrections are needed.
Flippening. Watch as the old $20K resistance becomes support.

The last upshot is especially relevant. Take a macro view of the market, then you realize daily price action is largely a distraction from the real prize later on: $100K+ BTC prices.

The Chinese mining ban is great for crypto

There's been plenty of fear in the market about the Chinese mining ban. Not only are people confused about what it means for Bitcoin, there's mixed messages about the consequences.

The mining ban has broadly extended to over 90% of the active Bitcoin miners in China. As you probably know, China has so far dominated the Bitcoin hash rate through sheer mining capacity.

However, Bitcoin's global profile is rising every day, which increases the spotlight on everything wrong with Bitcoin. A few weeks ago, Elon Musk tanked the market after tweeting that Tesla would no longer process BTC payments due to environmental concerns.

In response, Bitcoin hero Michael Saylor convened a North American Mining Council conference and outlined environmental goals like using renewable energy for mining.

The Chinese miner crackdown is well-timed. More people, institutions, and entire nations are getting involved with Bitcoin but are simultaneously concerned about mining power concentration in China.

Now, mining power is set to redistribute globally. El Salvador recently announced geothermal Bitcoin mining sites and locales throughout Africa are being scouted.

So, while miners in China are losing out on a long lucrative position as the world's top BTC excavators, everyone else is in a winning position.

Put your portfolio on auto-pilot

In market conditions like these, the best thing is to take emotions out of trading & investing.

The top of the current cycle is in, and the bottom is near, which means the current zone is nothing but market chop designed to cut your portfolio to pieces.

Best Regards . Open / Comment

2021-06-22 19:59:33 The balance between #Bitcoin supply held by Long and Short term holders has similarities to the 2017 market top.

What is different this cycle is that Long Term Holders have stopped spending their coins, suggesting an unwillingness to sell at these prices. Open / Comment

2021-06-21 17:50:03 Super important closing is coming on this 4h candle! It will be in three hours, so you'd better wait to see what's going on.

Basically if it manages to close above $32500, there will be a convergence which will pull the price back up. If it closes below $32k, be ready for new global low. Open / Comment