BTC/USD

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REAL-TIME UPDATE TO MEMBERS   -  7th Sep 2021

[BTC/USD Update] In our previous update (tagged), we had clearly mentioned that BTC will need to provide a strong decisive break of the key resistance at 51000-52500 to open the gates to the larger degree key resistances in the 65-75k region.

BTC has been meandering around this key resistance for the last several days. Earlier today, the resistance zone generated an impulse downward reaction which triggered a sharp drop in BTC to 42-43k in a matter of minutes.

BTC will need to ensure that it operates above the local support at 40300-41400 during all technical pullbacks if it intends to retest the key resistance.

Inability to hold above 40300 is a sign of an incoming deeper correction back to the supports in the 20-30k zone.

REAL-TIME UPDATE TO MEMBERS   -  25th Aug 2021

 

[BTC/USD Update] BTC has bounced off the key support at 29500-30100 shared in the previous update (tagged) and is now attempting to probe the key resistance at 51000-52500 for the last couple of days.

Only a strong decisive break of this resistance shall reopen the gates to the larger degree key resistances in the 65-75k region. To accomplish this task, BTC will need to ensure that it operates above the newly formed local support at 40300-41400 during all smaller degree retracements.

Inability to hold above 40300 during a pullback is a harbinger of an incoming deeper correction back to the supports in the 20-30k zone.
 

REAL-TIME UPDATE TO MEMBERS   -  27th Jul 2021

[BTC/USD Update] Please note that the micro-pattern has been re-assessed and the immediate key resistances have been adjusted

When BTC was approaching the macro-level resistances in the 60-75k zone, we had forewarned that it was on the verge of completing a macro-level wave(1) which shall trigger a larger degree retracement that will take the shape of a sharp & abrupt plunge in corrective wave(2).

After an initial nosedive, the larger degree corrective waves have the propensity to regularly whipsaw and consolidate in a range. That's exactly what BTC has been doing for the last few weeks.

Unlike the odd-numbered waves (1), (3), and (5) which are smooth and impulsive in nature, the even-numbered waves (2) and (4) are choppy and can bring frequent whipsaws

We had shared in the previous updates (tagged) that BTC has a cluster of supports in the 20-30k region as listed below:

1. 29500-30100
2. 25500-26300
3. 22100-24100


The first layer of support (denoted as 1) has been quite resilient and has managed to survive five break attempts so far. It has triggered yet another bounce last week.

That said, the job is far from finished. The current rebound shall be considered MEANINGFUL only if BTC is able to surmount the adjacent key resistances at 46900-48450 followed by 51000-52500.

Inability to clear these resistances in this bounce shall mean another round of whipsaw back to the 20-30k support zone and a likely test of the lower support layers (2 & 3).

Kindly understand the nature of corrective waves, know these parameters, and plan accordingly
 

 

REAL-TIME UPDATE TO MEMBERS   -  29th Jun 2021

[BTC/USD Update] BTC continues to operate in a larger degree corrective wave and has been simply oscillating between the nearest support and resistance zones shared in the previous updates.

Important to note that BTC has three layers of adjacent key supports in the 20-30K zone which means that this region shall have the proclivity to trigger rebounds. These layers are specifically at:-

1. 29500-30100
2. 25500-26300
3. 22100-24100


Just to put things in better perspective, the first layer of support (denoted as 1) has generated four rebounds so far, albeit a small breach last time.

Any rebound off these supports will need to surmount the adjacent key resistances at 41100-43200 followed by 46900-48450 to be rendered as MEANINGFUL and to open the gates to the 65-75k zone again.

Inability to clear these resistances in this rebound would mean that BTC is going to whipsaw back to the 20-30k support zone again and likely test the lower support layers (2 & 3).

Kindly know these parameters and plan accordingly

 

REAL-TIME UPDATE TO MEMBERS   -  25th May 2021

[BTC/USD Update] BTC is currently operating in a larger degree corrective wave which means it will have the propensity to whipsaw frequently. Hence, it is critical to know the micro-level technical parameters

After the precipitous plunge last week, BTC has now been oscillating between the key support at 29500-30100 and the immediate key resistance at 42900-44700 (slightly calibrated) shared in the previous update (tagged).

To exit the persistent downward pressure, BTC has its work cut out and will need to surmount the immediate key resistance and also the next key resistance at 50700-52100.

Inability to surpass these resistance levels in the current bounce shall set up another test of the key support at 29500-30100, a break of which shall expose the next key support at 25500-26300 followed by 22100-24100.

Kindly know your parameters and plan accordingly

 

REAL-TIME UPDATE TO MEMBERS   -  18th May 2021

[BTC/USD Update] BTC taking a nosedive should come as no surprise. In our previous updates, we have repeatedly cautioned about BTC approaching macro-level resistances in the 60-75k zone and how such areas often trigger larger degree corrections that take the shape of a sharp & abrupt plunge.

Mass psychology progresses in waves. Once the subconscious emotion completes a pattern, it shifts in the opposite direction. This progression & regression is hard wired within the human mind. Waves & Fibonacci mathematics is nothing but a representation of this NATURAL cycle
 

“Patterns repeat, because human nature hasn't changed for thousand of years” - Jesse Livermore

What's Next?

BTC has now entered a larger degree corrective wave which means there shall be frequent whipsaws.

The nearest key support is at 29500-30100, a break of which shall expose the next key support at 25500-26300 followed by 22100-24100.

Only a strong decisive break of 22100 shall open the gates to a deeper correction scenario targeting 12-17k area. We shall elaborate on the scenario only if probabilities begin to swing in this direction.

The immediate key resistance is at 42250-43700.

Again, corrective waves, by their inherent nature, can trigger frequent whipsaws. Kindly operate with discipline & risk management.

 

REAL-TIME UPDATE TO MEMBERS   -  10th May 2021

[BTC/USD Update] When BTC was plummeting after failing near the key resistance at 65560-66100 a few days back, we had indicated that the pullback needed to hold above the key support at 40100-40950 and preferably above the local support at 46100-47400 for BTC to resurrect in wave(v) of (1) and to revisit the larger degree resistance zone (65k-75k).

The local support at 46100-47400 managed to stall the technical plunge and has now triggered a sizable bounce.

BTC will need to get past the key resistance at 65560-66100 to open the gates to a higher high at the next key resistance at 68700-69500

Inability to hold above 40100 during a technical pullback shall be a preliminary signal of probabilities shifting towards a deeper larger degree correction.

Important to bear in mind that BTC is again approaching a macro-level resistance zone. While extensions are always possible, it is necessary to be extra vigilant around these levels as such regions have the potential to explore a larger degree retracement. Such corrections typically take the shape of an abrupt & sharp plunge from the highs.

Kindly know your parameters and plan accordingly



REAL-TIME UPDATE TO MEMBERS   -  23rd Apr 2021

[BTC/USD Update] In the last few updates, we have been constantly cautioning about BTC approaching a macro-level resistance zone in wave(v) of (1) and how such areas have the potential to explore a larger degree correction that takes the shape of a sharp & abrupt plunge.

Evidently, BTC has receded close to the key resistance at 65560-66100 shared in the previous update (tagged) and also broken the nearest micro-level support.

BTC is now approaching a local support at 46100-47500 above the next key support at 40100-40950. It will need to operate above the key support and preferably above the local support if it intends to resurrect wave(v) and have another go at the larger degree resistance zone.

Inability to hold above 40100 shall open the gates to a deeper larger degree correction.

Cryptos are extremely volatile instruments. Kindly operate with small positions & solid risk management.

 

REAL-TIME UPDATE TO MEMBERS   -  14th Apr 2021

[BTC/USD Update] BTC continues to operate within a macro-level bullish setup in wave(v) of (1).

As articulated in the previous update (tagged), BTC can continue to extend higher in wave(v) as long as it holds above the micro-level key support at 50100-50600 on any technical correction. The previous pullback managed to complete exactly at this support before generating a bounce off it for the next leg up.

BTC is now approaching the key resistance at 65560-66100, a break of which shall set up a test of the next key resistance at 68700-69500 followed by 73400-73900.

The next larger degree key resistance is at 75100-76400.

Important to bear in mind that BTC is currently operating in a macro-level resistance zone. While over-extensions are always possible, it is necessary to be extra vigilant around these levels as such regions have the potential to explore a larger degree correction. Please note that such corrections typically take the shape of an abrupt & sharp plunge from the highs.

Kindly know your parameters and plan accordingly

 

REAL-TIME UPDATE TO MEMBERS   -  5th Apr 2021

[BTC/USD Update] BTC continues to operate in a macro-level bullish setup in wave(v) of (1).

It has been consolidating between the micro-level key support at 50100-50600 (slightly calibrated) and the first larger degree key resistance at 61950-63100 shared in the previous update.

BTC will need to operate above this micro-support if it intends to have another go at the nearest key resistance. Any violation of this support shall open up the potential for a deeper correction to the next key support at 40300-40950.

A strong decisive break above 63100 shall set up a test of the next key resistance at 65560-66100 followed by 68700-69500.

Important to bear in mind that BTC has multiple larger degree key resistances in the 60-75K zone and it is important to be vigilant, watch all the technical parameters and extensions closely, and plan to manage positions accordingly.

Cryptos are extremely volatile instruments. Kindly operate with small positions & solid risk management.

 

REAL-TIME UPDATE TO MEMBERS   -  18th Mar 2021

[BTC/USD Update] Our previous updates had clearly elucidated that BTC shall target the larger degree key resistances in the 60-75K zone within the bullish setup in wave(v) of (1). With BTC having entered this macro-level resistance zone, it is now important to watch all the technical parameters closely and plan to position accordingly.

While over-extensions are always possible, macro-level resistances are typically ideal regions for completion of a wave and beginning of a larger degree correction. Please note that such corrections typically take the shape of an abrupt & sharp plunge from the highs.

Zooming into the 60-75k region, the first larger degree key resistance is at 61950-62700 as shared in the previous update (tagged). BTC did attempt to probe this level last week and then immediately receded from near it.

That said, BTC has the license to have another go at this resistance as long as it operates above the newly formed key support at 51100-51800.

A strong break above 62700 shall expose the next key resistance at 65560-66100 followed by 68700-69500.

Cryptos are extremely volatile instruments. Kindly operate with small positions & solid risk management