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Abstract

png"><figcaption>Screenshot of Tradingview — BTC 4hr Chart</figcaption></figure><h2 id="347a">Strength</h2><p id="a8b0">If we closely watch the movement of BTC, we can see that after it has gone up quickly without stopping, it has not stayed on the upside for a long period.</p><p id="a3f1">If a breakout is observed after testing at least three times near any significant resistance, it is considered the most powerful. Are we going to see anything like this? Yes, this is happening.</p><p id="14e9">Looking at the chart carefully, bitcoin had previously hit the direct $30000 resistance, but this time it has tested twice and is about to do so for the third time. The chart does not appear to be lacking in strength.</p><figure id="83c9"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*-d15scRjY7Rz2MUVT8gnKw.png"><figcaption>Screenshot of Tradingview — BTC 1hr Chart</figcaption></figure><h2 id="d143">Pattern</h2><p id="e6d9">The chart pattern is something that encourages us to trade or invest since it is a map. The map directs us in the right direction. When the path is known, the risk of running decreases.</p><p id="bec9">The same type of triangular pattern is formed in BTC and ETH. In this triangle pattern, 5 waves have formed. The formation of 5 waves indicates significant movement after the pattern’s breakout.</p><p id="9416">♦ I am not going to ignore this pattern.</p><p id="0c4c" type="7">Pattern + Volume + Strength = ‘’Profit Key’’</p><h2 id="546f">Plan</h2><p id="0323">Plan trades for the upcoming wave. If I were you, I would focus on the next major positional move rather than the daily trade. For more data, keep an eye on BTC around 29500-30000.</p><p id="6b1d">It is awful if the bears succeed in bringing the market below 28000 for whatever reason. This is likely to be the greatest slap on the face of whales (buyers) since the beginning of April.</p><figure id="34fa"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*DmwEe56TPB8ZVerz"><figcaption>Photo by <a href="https://unsplash.com/@priscilladupreez?utm_source=medium&utm_medium=referral">Priscilla Du Preez</a> on <a href="https://unsplash.com?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><h2 id="5e71">Ups & Downs</h2><p id="4c52">You must have seen strange fluctuations in the price of Bitcoin throughout the first three days of this week. How BTC moved from$ 27000 to $30000, then down to$ 27000, and now back to around $30000.</p><p id="598d">When was the last time you saw something like this? Furthermore, the strength of BTC has not dropped. The markets were being kept higher in order to clear out all of the shorts. Of course, it may all be in my head, and if you’re thinking the same thing, my hunch could be accurate. However, if all shorts are eliminated from trades, the bulls will not allow the bears to fall BTC below$ 28500– $29000. If they do, it will indeed be echoes of some of the bigger moves behind the insane buying spree this week.</p><p id="4f3c">Yes, absolutely above$ 30000 you should not short but mark it as very important for the coming days and be flexible if the levels are changing and shifting.</p><p id="c43f">When you see an opportunity, trade with risk management. Play with levels and patterns rather than <b>hope, greed, or emotion</b>.</p><p id="5564">Trade altcoins by looking at bitcoin dominance to improve trade accuracy.</p><div id="fd47" class="link-block"> <a href="https://readmedium.com/bitcoin-could-reach-35000-exit-liquidity-sentiments-ca07e3b64417"> <div> <div> <h2>Bitcoin Could Reach $35000 — Exit Liquidity & Sentiments</h2> <div><h3>Never Miss This Rally | Reason | Patterns | Whales</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*d0t-rrmkS1MmSBECymsdgg.png)"></div> </div> </div> </a> </div><p id="9e45">♦ I hope you have liked the article.</p><p id="ad15" type="7">Clap — Share — Comment — Happily ☺</p><h2 id="111f">Disclaimer</h2><p id="1fa7">This is not Financial Advice. This article is meant only for educational purposes. I am just sharing my thoughts and analysis based on my many years of experience.</p><h2 id="2a59">Thank You for Reading…</h2><div id="cfe3" class="link-block"> <a href

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Will Bitcoin Rain Money on Us in May? — Millionaire Time

Manic | Dominating | Volume | Strength | Pattern | Trade | Ups & Down

For Bitcoin, April has been a pretty volatile month. Tomorrow, the candles for this month will close, and it is good to see that the closing is going to be positive. The expected monthly candle is up 3% in an upward movement.

The bulls will make every effort to hold the market above the $30000 level, and the bears will undoubtedly make every effort to pull the market below those levels. Who will be rich? In order to prepare for our next positional trade and altcoin trade, we must pay attention to this.

Maniac

The level of $30000 is not to be taken lightly since it is the door that may drive the bull so much that it runs like a maniac. We may not be able to catch this wild bull since we have all witnessed what occurs when a red flag is waved in front of a bull.

Due to the monthly candle closure, I do not pay attention to where the market closes. Whether the bulls are really strong or whether it is about to enter a large bull trap, as they say, “Sell in May and go,” this is the picture that is the clearest in the coming days.

In May, 2 Conditions are Possible.

“Buy in May and enjoy”
“Sell in May and go”

Let’s talk about what’s most likely to happen in the future.

In any case, you should mark the bullish zone and the bullish pattern, and you should plan your trades on the pattern while keeping this in mind. The charts will tell us which way Bitcoin wants to go.

Environment

For the time being, one should approach Bitcoin in a neutral manner. Although a fearful environment has been created by Bitcoin’s recent volatility in the last three days, the Greed & Fear index is still at 64 in this situation. Everyone is surprised to see 64. Greed is in control, thus there must be a cause for the Greed & Fear index to reach 64 suddenly.

What is Happening in Bitcoin is that Greed is Dominating.

BTC may have risen twice from its low, but it is still trading at a 58% low to its all-time high. If the rally begins at $30000, it will easily double to an all-time high. With this, even if no one was able to buy at the lowest price, it is advisable to purchase at a somewhat higher price. This month, bitcoin reached a high of $31000, as seen by everyone around the globe. Greed is dominant for a variety of reasons, and it is unavoidable.

Traders have told us that when the greed and fear index is less than 50, we should consider buying, and when it is greater than 50, we should consider selling, but this is not always the case. You should be able to determine that the price will increase when there is buying pressure.

Whether we choose to focus on it or not, buying pressure is being produced right now.

Screenshot of Tradingview and Charting by Author — BTC 1d Chart

Volume

BTC broke the $18000 milestones on January 11, 2023, and volume has increased since then. After that, when stablecoins were depegged the market dropped to $20000, and whales made massive purchases. Due to the purchasing pressure of whales, the price of BTC hit $28700, after which the volume significantly decreased.

Due to low volume, it was unable to stay over $30000. BTC fell from $31000 to $27000, and the volume recovery started again. The volume on the 26th and 27th of April gave buying pressure, and this volume cannot be overlooked.

I’ll consider this volume as a buying single. I believe that when the price of Bitcoin rises beyond $30000, a huge volume will come.

Screenshot of Tradingview — BTC 4hr Chart

Strength

If we closely watch the movement of BTC, we can see that after it has gone up quickly without stopping, it has not stayed on the upside for a long period.

If a breakout is observed after testing at least three times near any significant resistance, it is considered the most powerful. Are we going to see anything like this? Yes, this is happening.

Looking at the chart carefully, bitcoin had previously hit the direct $30000 resistance, but this time it has tested twice and is about to do so for the third time. The chart does not appear to be lacking in strength.

Screenshot of Tradingview — BTC 1hr Chart

Pattern

The chart pattern is something that encourages us to trade or invest since it is a map. The map directs us in the right direction. When the path is known, the risk of running decreases.

The same type of triangular pattern is formed in BTC and ETH. In this triangle pattern, 5 waves have formed. The formation of 5 waves indicates significant movement after the pattern’s breakout.

♦ I am not going to ignore this pattern.

Pattern + Volume + Strength = ‘’Profit Key’’

Plan

Plan trades for the upcoming wave. If I were you, I would focus on the next major positional move rather than the daily trade. For more data, keep an eye on BTC around 29500–30000.

It is awful if the bears succeed in bringing the market below 28000 for whatever reason. This is likely to be the greatest slap on the face of whales (buyers) since the beginning of April.

Ups & Downs

You must have seen strange fluctuations in the price of Bitcoin throughout the first three days of this week. How BTC moved from $27000 to $30000, then down to $27000, and now back to around $30000.

When was the last time you saw something like this? Furthermore, the strength of BTC has not dropped. The markets were being kept higher in order to clear out all of the shorts. Of course, it may all be in my head, and if you’re thinking the same thing, my hunch could be accurate. However, if all shorts are eliminated from trades, the bulls will not allow the bears to fall BTC below $28500–$29000. If they do, it will indeed be echoes of some of the bigger moves behind the insane buying spree this week.

Yes, absolutely above $30000 you should not short but mark it as very important for the coming days and be flexible if the levels are changing and shifting.

When you see an opportunity, trade with risk management. Play with levels and patterns rather than hope, greed, or emotion.

Trade altcoins by looking at bitcoin dominance to improve trade accuracy.

Bitcoin Could Reach $35000 — Exit Liquidity & Sentiments

Never Miss This Rally | Reason | Patterns | Whales

medium.com

♦ I hope you have liked the article.

Clap — Share — Comment — Happily ☺

Disclaimer

This is not Financial Advice. This article is meant only for educational purposes. I am just sharing my thoughts and analysis based on my many years of experience.