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Bitcoin: $53,000 ➥ $43,000???

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Regarding Bitcoin, I am currently considering a scenario involving surpassing the local price high and collecting the stop losses of short traders at $53,000 - $54,000, from where a correction on Bitcoin of approximately 20% to $40,000 - $45,000 is quite possible. In the second image, you can see that the correction has averaged 20%. I will stick to this plan.

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Found an interesting screenshot on Twitter. Based on what I saw, we're likely to test $53,000, followed by a correction.

Bitfinex Spot BTC Orderbook:

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Let's see how this scenario plays out... I've indicated with arrows how last time the price reached the red lines and then went into correction, and now there are lines around $53,000 from where a correction of approximately 20% could occur. We'll observe.

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🤔🤔🤔

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Coinbase Premium Gap:

Intriguing data from CryptoQuant adds to the evidence for a potential Bitcoin correction.

The “Coinbase Premium Gap” is an indicator that keeps track of the difference between the Bitcoin prices listed on cryptocurrency exchanges Coinbase and Binance. When the value of this metric is positive, it means that the price listed on Coinbase is currently higher than on Binance.

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Hello everyone. I won't be available today. Celebrating my Birthday. Turned 37 years old )...

Anyone who wants to wish me well, reach out on Telegram or Twitter!

Thank you!

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#Bitcoin 💰 — Hello everyone.

Today, the altcoin market is in the green zone. Bitcoin's dominance continues to fall, fueling the growth of altcoins.

Bitcoin is trading at $51,500 (be extra cautious upon reaching $53,000), while Ethereum is trading at $3,110. At this moment, the priority is to trade altcoins while Bitcoin is dormant :).

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#Bitcoin — Bitcoin today 🟠

Based on the BTC Liquidation Heatmap, we might retest the $50,500 ± level to collect stop losses, from where I believe the price will be driven up to $53,000.

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— Altcoins today

Looking at altcoins, nearly all indicate a potential local minimum update to collect stop losses. Be cautious. It seems they want to gather the last stop losses and then allow for growth. I plan to catch and re-enter at local minimums.

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#Bitcoin — ❌ ZachXBT reports "suspicious activity" on the BitForex crypto exchange!

On February 23, $56.5 million was withdrawn from the exchange's hot wallets, followed by a suspension of withdrawals.

➖ There are no official statements.
➖ BitForex holds 18% of the #TRB supply and 7% of the #OMI supply.

Notably: A month ago, the CEO of BitForex resigned. Now, the negative news has arrived.

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Current situation with Bitcoin. Data from Coinbase.

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Binance:

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#Bitcoin — 🤔🤔🤔

Contentious moment for Bitcoin. The price was not allowed to reach $50,500 and was pulled back.

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12h timeframe (Coinbase):

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UPDATE: $53,000 +- and...?

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Price reached $53,000± as per the idea. Bears' stop losses were collected. Now, I will be waiting for a Bitcoin correction of -20% or around $43,000± (not financial advice).

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UPDATE (Coinbase):

1H red volume:

1D:

交易开始

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Who knows how the S&P 500 is doing? :) A correction?

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That was intense, in other words :)... they stretched it all the way to $55,000...

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The current Bitcoin situation on the 12-hour timeframe on Coinbase: the price has reached $57,250. Will the price drop from here? Likely. Should you short Bitcoin? Of course not. The main goal is to wait for a correction in Bitcoin and altcoins for a more advantageous entry into trades, without leverage (Spot).

The first target for Bitcoin is $43,000, and for Ethereum, it's between $1,850 and $2,017.

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Bitcoin:

Ethereum:

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I went through indicators and came across a divergence indicator, which on the 3-week chart ± accurately identified the peaks of cycles and the bottom of Bitcoin's price during the bear market in its historical performance.

Divergence for many indicator v3:

Bitcoin:

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I found an old image from 07/14/2021 when Elon Musk simply wrote numbers :). It turned out to be reality that Bitcoin follows these targets. The only thing is that Bitcoin's bottom wasn't $20,000, but $15,500.

When I saw a batch of orders on Coinbase reaching up to 74k today, I started looking for that old image. Let's see... will Bitcoin reach 72-75k :)

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For Bitcoin: At $60,000, I'll consider whether it's worth trying a long position towards Elon Musk's targets or waiting for $52,500.

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#Bitcoin — Awaiting a bullish signal.

Awaiting a bullish signal from the divergence indicator and will be looking for an entry point to buy Bitcoin 🤔

Indicator:
tradingview.com/v/iN9FTv45/

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Hello, everyone. Bitcoin is currently holding steady. There was no signal from the indicator. On Coinbase, the limit order at $60,000 disappeared, with the nearest one at $52,500 where the stop losses are also located. I'll be waiting...

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If there is indeed a drop in Bitcoin to around $52,500, then I will be looking for an entry point to buy Bitcoin, similar to January 3, 2024. During that period from January 3 to January 11, 2024, Bitcoin's dominance significantly increased.

Consequently, altcoins corrected, and we will be catching attractive entry points for mid to long-term positions. Join Chain Knights Premium, where we will be building an altcoin portfolio on the correction - it's free. Instructions in Telegram.