DaveBrascoFX

I am Bullish on Bitcoin

DaveBrascoFX 업데이트됨   
CAPITALCOM:BTCUSD   비트코인
Bitcoin (BTC) price tumbled to a weekly low of $40,555 of Wednesday morning, down 9% from its yearly peak of $44,700 recorded on Dec 8. 
On-chain data trail shows that Large Institutional investors capitalized on the Bitcoin price dip to acquire another 13,010 BTC (~$533 million). 
Historical accumulation trends show that Bitcoin smashing the $43,200 resistance could catalyze more gains.


I am BULLISH strongly on this pair now, and will update if, based on my trading systems, trend reversals, position reducing, take profits, or trend change happens

Bitcoin (BTC) price dropped to a 10-day low of $40,555 on Wednesday morning, down 9% from the 2023 peak of $44,700 recorded on Dec 8. On-chain data analysis depicts that Large Institutional investors capitalized on the Bitcoin price dip to acquire another 13,010 BTC (~$533 million). 


Bitcoin price looks set to reclaim the $50,000 territory in the short-term. From an on-chain perspective, corporate investors accumulating BTC to front-run the impending Spot ETF approval appear to be the major driver behind the current bullish momentum. 
Without any significant setback to the Spot ETF approvals process, the Bitcoin bulls are expected to remain in control. 
However, historical buy/sell trends show that the $43,500 area could form a significant resistance to the next Bitcoin price bounce. 
But if the whales maintain their current buying trend, Bitcoin price will likely smash that resistance has reclaim $45,000 as predicted.

On the flip side, the bears could invalidate that positive prediction if Bitcoin price dips below the critical psychological resistance at $40,000. But, in that case, the 1.17 million holders that bought 520,140 BTC at the average price of $41,000 could offer significant support. 
Since the Bitcoin Spot ETF approval is expected in the next few months, BTC price will likely defend that support level fiercely.
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I am BULLISH strongly on this pair now, and will update if, based on my trading systems, trend reversals, position reducing, take profits, or trend change happens
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Fed Pivot Toward Interest Rate Cuts in 2024 and Gold’s Bullish Response

The Federal Reserve concluded its last FOMC meeting of the year, and as expected, they kept their benchmark interest rate unchanged.
Seventeen voting members are all predicting interest rate cuts next year, with five officials projecting a decrease of ¾%, five officials anticipating a larger rate cut than ¾%, and the remaining two voting members anticipating no rate cuts next year. According to their economic projections, the Fed believes core inflation will peak at 2.4% next year, which is lower than its projections in September of 2.6%.
The Federal Reserve is also projecting inflation will cool to 2.2% in 2025 and 2.0% in 2026. Their projections anticipate unemployment rising to 4.1% in 2024 and remaining at that level through 2026. The Fed also anticipates an economic deceleration forecasting growth at 1.4% next year, and rising to 1.8% in 2025 and 1.9% in 2026
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50% Profit taking at 42658

TRADE still active.

after new pullback, I will add more long again
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Treasury yields hit lowest since August, fueling market optimism

U.S. stock futures climb as Fed hints at 2024 rate cuts; Dow hits all-time high.
Fed Open Market Committee keeps rates steady; markets react positively to dovish outlook.
Post-Fed, Treasury yields drop to lowest since August, signaling economic optimism.

U.S. stock futures experienced a significant uplift Wednesday night, following the Federal Reserve’s indication of possible rate cuts in 2024.

US DOLLAR DOWN YIELDS DOWN ASSETS vs Dollar UP

Federal Reserve’s Rate Cut Signal
The Federal Open Market Committee maintained interest rates between 5.25% and 5.5%, aligning with market expectations. However, the revelation of potential rate cuts in 2024 spurred a positive shift in market sentiment. The Fed’s decision, signifying the potential end of a cycle that included 11 rate hikes, has been viewed as a pivot towards a softer monetary policy approach


Impact on Treasury Yields
The Fed’s announcement influenced Treasury yields, with the 10-year note hitting its lowest since August. The dovish outlook implies further cuts through 2025 and 2026, potentially lowering the fed funds rate to 2%-2.25%. This forecast aligns with a brighter inflation outlook, as indicated by recent consumer and wholesale price data

Solar Stocks Respond Positively
The Invesco Solar ETF (TAN) saw a significant increase, with constituent stocks like Enphase Energy, SolarEdge Technologies, and Sunrun recording notable gains. This uptrend reflects the solar industry’s sensitivity to interest rates, as lower rates could reduce financing costs and improve valuations.
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Short term trend short. I hedged my longs now at 40860, and am expecting 32933
In case the hort trend change, I will excute the hedge
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Took profit my short hedgeat42738
Long again 42736
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STILL LONG
TARGET 48236
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The January launch of a bitcoin spot exchange-traded fund (ETF) is expected to face subdued demand initially, which could lead to a 'sell the news' scenario, Singapore-based QCP Capital wrote in a recent note. This could result in short-term volatility for bitcoin, which will shift the focus towards ether .
"It is likely that the actual demand for the bitcoin spot ETF at the start will fall short of market expectations," QCP wrote. "We expect topside resistance for bitcoin in the $45k-$48.5k region and a possible retracement to 36k levels before the uptrend resumes."
Bitcoin is currently trading above $43,700 during Asia business hours, up 2% on-day.
QCP writes that ether is seen as a potential secondary investment option with an anticipated market shift from bitcoin, and speculative interest in a forthcoming ether spot ETF could drive ether prices higher, even before the ETF's actual launch.
"Ether might also be an interesting laggard play here," they wrote. "This kind of headline excitement could create some speculative uplift for ETH price whether it is warranted or not."
CoinDesk reported that BlackRock (BLK), Nasdaq (NDAQ), and the Securities and Exchange Commission (SEC) held their second meeting in a month to discuss rule changes for listing the bitcoin ETF, with BlackRock modifying its proposal to include cash redemptions, aligning with SEC preferences.
Grayscale also recently had a second meeting with the SEC.
Bitcoin is up 17% in the last month, according to CoinDesk Indicies data, as anticipation builds around the ETF.
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Bitcoin - a break above $44.7k brings $48.2k resistance into play.
Solana – outperformance continues
The multi-week Bitcoin rally remains intact and is pushing the largest cryptocurrency by market cap to levels last seen in April last year. The spot Bitcoin narrative remains the main driver of positive sentiment, while the technical Bitcoin halving event, expected in mid-April, is supporting the push higher. A decision by the SEC on multiple spot Bitcoin ETF applications is expected by early January and a positive decision is currently seen as the most likely outcome. Bitcoin traders are actively watching any SEC announcement at the moment and, it seems, buying Bitcoin ahead of the decision.

The technical outlook for BTC/USD is positive with the weekly chart showing a bullish flag formation being formed, while a bullish 50-day/200-day gold-cross is close to being made. The CCI indicator shows BTC/USD as overbought, suggesting a period of consolidation before any move higher. On the weekly chart there is little in the way of resistance ahead of $48.2k. Support is seen at $40k and a fraction under $38k.
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Bitcoin climbs above $45,000 for first time since April 2022

Bitcoin touched a 21-month peak of $45,488, having gained 154% last year in the strongest performance since 2020. It was last up 2.6% at $45,344 but remains far off the record high of $69,000 it touched in November 2021.

Ether, the coin linked to the ethereum blockchain network, was 1% higher at $2,376 on Tuesday.

Investor focus has been squarely on whether the U.S. securities regulator will soon approve a spot bitcoin ETF, which would throw open the bitcoin market to millions more investors.

The U.S. Securities and Exchange Commission has rejected multiple applications to launch spot bitcoin ETFs in recent years, arguing that the cryptocurrency market is vulnerable to manipulation.

In recent months, however, there have been increasing signs that regulators are prepared to sign off on at least some of the 13 proposed spot bitcoin ETFs, with expectations that the decision will likely come in early January.

Rising bets that major central banks will cut interest rates this year has also been a boon for cryptocurrencies, helping shake off the gloom that had settled over crypto markets following the collapse of FTX and other crypto-business failures in 2022.
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Daily Global Market Update
The Euro-Dollar pair experienced a slight decline in the last session, dropping by 0.2%. The Stochastic RSI indicates that we are currently in an oversold market condition.
Dollar-Yen Pair's Gains
The Dollar-Yen pair saw an increase of 0.7% in the last session. The RSI is currently giving a positive signal, suggesting potential continued upward movement.
Gold's Decline
Gold fell by 0.8% against the dollar in the last trading session. The CCI is currently giving a negative signal, hinting at a potential continued downtrend.

Global Financial Headlines
The US dollar has risen, bolstered by high US Treasury yields and a cautious market sentiment affecting Wall Street. Traders are now awaiting further economic data. Job openings in the US saw a decrease to their lowest level since March 2021, indicating a cooling job market. European markets have also experienced a sharp decline, with various sectors showing mixed performances.


Upcoming Economic Highlights
Key economic events to watch out for include the US ADP Employment Change, Initial Jobless Claims, Germany's Harmonized Index of Consumer Prices, and Japan's Jibun Bank Manufacturing PMI, among others. These data points are crucial for investors and traders to watch as they provide insights into the economic health of these countries.

US ADP Employment Change - 1315 GMT
US Initial Jobless Claims - 1330 GMT
Germany's Harmonized Index of Consumer Prices - 1300 hours GMT
Spain's 30y Bond Auction - 0940 GMT
Japan's Jibun Bank Manufacturing PMI - 0030 GMT
Japan's Monetary Base - 2350 GMT
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Added Longs @43899

BTC going to beak High of Friday, possible resistance high of thurseday last week ,if breaking 45425
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added longs at 43899 and 44079.Possible resitance at HighofThurseday 44611, if breaking it can go to 45432.But...I am trend follower, so if Pullbacks I use to add more longs.If you are Daytrader,maybe your strategy is different than mine(For example whenI buy breakouts, you may use those level as Short selling points,etc.)pLEASE KEEP THIS ON mind.I just document my own trades, but no recommandation others to take the same trade like me. Thank you
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ok. now I added morelongs, at 44132.This trade is no recommandation or advise.
Use always stops.(My targets to react (Not Profit taking)) are the same 44661, and if that break breaks, 45441.
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still bullish
no more adds. Waiting for new signals
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higher highs higher lows, BREAOUT OF VAH
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Baswd on my yesterdays bullish trade(see the minds) I will saty bullish ,as I thin Bitcoin will go higher
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I hold my longs and keep staying bullish This was confirmed by the most recent higher bottom and higher top created in yesterday’s trading session. Despite the bullish outlook, bears are currently busy with a correction wave and will be aiming at the weekly resistance turned support to test the bullish resolve. Nevertheless, this sets up possible long opportunities on lower time frames if the bulls can regain their momentum and keep on dominating the market On the 4-hour chart a beautiful uptrend is in progress with consecutively higher tops and bottom in place.
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I AMBULLISH AND INCREASES MY LONGS. Bitcoin price formed a base above the $41,800 level and started a steady increase. BTC was able to clear the $42,200 and $42,500 resistance levels. It also reclaimed the 100 hourly Simple moving average. The price climbed above the 50% Fib retracement level of the downward move from the $43,488 swing high to the $42,320 low. The bulls even pushed the price above the $43,000 level. However, the bears seem to be active near the $43,200 level.Bulls broke this resistancce and now expecting 45000 again
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I will stay long, as mysystem tell me staying bullish, and ignoring all noises.No matter panic,no matter what news, Jut following my system rules, and that will pay off. Currently bullisg, as it will rise higher.
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correction to 47807,47261,47237 46286 isawairing, but trend is bullish i saty bullish
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correction of the last update: correction to 47807,47261,47237 46913 46695 46261 is awairing, but trend is bullish i stay bullish
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Perfect! Istay bullish, because we go higher,to above 50000
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Perfect.Mylat upate below this trading idea was: I stay bullish, because we go higher,to above 50000

Voila: i STAY BULLISH AND bITCOIN IS NOW AT 51425. I saty bullish, becaue it will rise higher
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I am bullish and stay bullish,and my next target i 55000
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Still bullish,my longs active.I stay bullish
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Bitcoin is shortly before breaout.BITCOIN is still BULLISH. Because we are Embedded. So I am bullish.Cirrently its fighting to break above 51932. if failing Bitcoin will go back to 50919 and 50595 to start a new bullish attack Once broken above the high, BTC will attack the high range 52795 to 55210
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Perfect! The show must go on,mybulls making profits ,so I saty bullish
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65000 Next!
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Hedged mypositions nowshort.posible that after powels speech it begins to run higher, but only possible
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short term Bearish ...waiting for newbuy signal
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Hedge closed. Short squeez .Long again
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long, but I wait it to go first to 56000-59000 32 and 55 retracement
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Big pumpcoming BTC Short contracts are being reduced and the bears reducing their elling positions. We will see 70000 next, and ifit holds above 100000 willbe the the next target in minimum.The question iswhen it starts tobreak 68000
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Hedfedd mypoition short.Some big is happenning wedont know.I t posibly goes back to 59000 direction, tofillthe gap
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Hedge solved. new bUY SIignal above 67500pumping.I amhigh buyer,so may someneed trong nerves as steelto buy high. I follow up my strategy. still bullish
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short fill levels to come are 66926.10 66729.33 65581.53 65468.59 if break below then 62769 61467.78

if a level breaks the next one will be the target
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.... beforepumpingg an loading higher
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Short Hedge opened at 67611
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ShortHedge openedandadded at 67411 and 67105 all active
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hedge closed 66972 tookprofit short,mowalllong active again
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hedged again becauz 150D volume dropped
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hesge closed
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New Bia calculation:Daily open volume bearishe, we go down for somehours or days..before making newe Record highs
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Range notbroen,waiting of confirmtion
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New All time HIGH Today!!!! Current Price is 68448
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bears got trapped nice never mess with BTC
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69042an then 69571.36.Back to All time Highs-Bullish sunday goodmorning guys
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69000 reached Now the next 2 targets
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69571 target reached as explained! Now my next target 100k and then 123000! 123K
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New All Time High achieved! Congrats toall BTC Friends
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72560 New Alltime High reached!
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new ALL TIME HIGHS coming.Bullish momentumextremly strong today
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Sure correction will come, and also Bears will have their chances! BUT:

No matter what.I STAY BULLISH! I LOVE MY STRATEGY AND IT SAYS STAYING LONG and till today it was right!ABSOLUTELY RIGHT!!!! and we go to 123000K.
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No good day to buy,I am waiting for new signal
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Hedged Shortits going down at 72541
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Short Hedge closed Tookprofit 69818 Longs active
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Still short Hedged 69750
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We Goto60-62K,if breaking to50K,it breaking to 34000!!!!Once breaking;Welcomeed totrade short to8K11111bUT POSSIBLY some willreact in Between.Let´swait and see.Iamstillshort hedgedto protect my longs at 9K
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Short hedge closed at 63945TO.Longs active
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Short Hedged again 67193
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TODAY:RED DAY! Powell speaking!
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Today: Green trend day. Fill Gaps upides,before the bears trap the bulls and attack BTC down
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Today Sunday red Day BTC going down.Taget 60K
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BTCUSD
RSI rising, a bounce to 67808 ispotentiallypossible,if RSI continoues to rie.If it falls back,dropto60K is potentially possible.Weekly still very down.
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Tomorrow on Monday 25.March2024 we will have a green trend dayup to 67740-69700 area(somewhere like there)
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if it loses this level 65550, , will fall back to 64850 and 63850 again maybe deeper. BElow 63665 Asia will open red day!!!!!! If it holds above,the probability to get up increases Lets wait and see.Someone is playing big,showing his cards
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Target long reached,now RED periode starting.Asiaopenedbullih,and going to BEAR MODUS
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As I thismorning said: RED day today. The green open periode Asia is done.Europ opened below Asia. Waiting to see how US boys reacting.Bias is bearish.I sold double Top30min.(read alsomyminds BTC group, there I have mentioned the entry price.and Hold the short trade.Ignoring all news,and noise, just keep to your strategy.TP OPEN END; will close the tradeif necessary manually
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Took profit short 65847,long to67 area.Trend bearish
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Dont get trapped:Sold and took profit 68774of long
now gapfilldown beginning
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low volume, exactly like 2 weeks ago trapit s algo gap, sold 69732 short TP manually,monitoring live this trade,if bias changes,Iwill close this trade, but let it run as far as possible.SL moved to belowbreak even,the position is safe and protected well, whatever happens,this trade ends as a winning trade
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Sold 69970 short ,increased my shorts
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closed the short at break even manually,waiting for higher pullback
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waiting to sel l70615 or higher,becuz very low volume,divergence extending
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Short again 70694, stopimmediatelymoved 50points belowbreak even,asit droppedfast.Poition is safe.In case the trade doesnt work,I willleaveit with smallprofit,but nomoney loss.TPis open,let it run as far as you can,Imange my TPmanuallyby monitoring Live
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Added short 70938 stoptrailed to Breakeven+1 lots,position protected.In casetrade doesnt work, no no loss excecuzion.Target 62K
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Increased Shorts Target 1 62Ktarget 2 54K Target3 34K halving ris increasing volume very low above 70K
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Increaed again my shorts happily at 71602 today, and will continue thisstrategy.Reasons:No trust anymore in BTC and cryptos. 2)Price in weekly,monthly yearly and 3M low value area:More eller,les buyers.BTCholders or retail traders who are emotionally buying BTC are no real buyers or seller,but small and meaningless traders.The big guys initiated the bearish move and and they are accumulating to sell BTC more Targets down 62 K 58K 54K 42K 38K 34K.Its not saying that possibly BTC wont make new ATH, the better,becuz then I can sellmuch more of this valueless digital thing called BTC tomake more FIAT MONEY.US DOLLAR will always rule the world.Always!
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Sold 71233 short,all SL trailed to breakeven(+some pips in profit) All positions 100% afe.In case ofpullback no loss,but will sell higher
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RED BTC futuure is beginning today.The bears enter the arena
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Eactlylike I said:Some guys manipulatiing BTC .Here i the evidence: Byzantine General, a crypto analyst, noted the significant increase in open interest, suggesting that leverage has been a major factor propelling Bitcoin’s price higher. He stated, “I can’t help but have the feeling that BTC is trading like someone knows something. A billion $ in open interest got added in the past couple hours. It’s mostly this leverage that pushed us higher I think.” Source:https://www.tradingview.com/news/newsbtc:e91084298094b:0-bitcoin-price-surges-past-71-000-4-key-reasons-behind-the-rally/ Now I100% will only go short BTC.Every single time
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EYES OPEN:SMCI!!!!! the next hype? More than 9Billons $ BTC on asset.Interetingly the chart of SMCI i very similar to BTC chart(Compare this! TODAY! NOW).What does it mean? When BTC ries,SMCI rises and visecersa. And if SMCI down BTC down. How big is SMCI dept of assts?How lowits lirealnet liquidity.Alone a bubble and crah of SMCI could bring BTC down to the deepest levels possible. Cannot imagine that?Then look agin on SMCI chart. To equalize the debts SMCI needs to sell its BTCand this alone will surge BTC.The list of similar companies like SMCI islong and large.Sothink100 time again, before you say,you are holding BTC.
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Wall Street is anxiously awaiting the February PCE report, due this Thursday, March 29
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Strong US Dollar,much more stronger US DOLLAR in the future and Wall Street Split on Monetary Policy.Can strong Dollar affect BTC negatively? Short answer:Absolutely.Yes. it does and it will. That says it all.
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Today green day

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