Bitcoin about to Fk dreams?!

Its Sunday and as expected the market seem to be eager for everything to go up without taking a breath, for an over all I haven't seen Bitcoin go up or show signs of strength but its then weekend when its usually low volume, as for Altcoins I’m not really into them for the moment, I’m just trying to acquire a skill by focusing on a single asset but could not stop notice many ppl saying ETH went up on Twitter, not that I'm active over there but I'm always lurking, in fact Hive is the only site that I'm some what active even though I don't post every day.

ETHEREUM 1D Chart

If we zoom out ETH 1D doesnt look that sexy, but it could be the beginning of something, Oct is “usually” a good month for crypto and right now it seems ETH is hitting a wall at the $2600ish range and could potentially drop say to $2400 making another lower high since Sept 06, the current push already went up a good amount +15% on the second push so its ok for the price to drop a gear and prepare for another leg up.

Bitcoin 1D Chart

Bitcoin Daily Chart starting to have all this weak ass wicks up and down, for the past day selling out every time hits $63500 ish, probably showing that the actual overall market dont think the price could get over the previous recent high of $65,475 and this has been the trend since March 2024, the exception here could be that instead of making a new low the price drops a gear around $60k at the worst case $58k to then start pushing and for the first time do something different in 2024.

Besides the volume profile, this two other indicators give me a hint that the price might drop in the upcoming two days, the time is critical and the SQZ is showing that Bitcoin is running out of time to get over $65 in the short term and even if it does would be for a quick liquidation wick although at this point I doubt there are many shorts, all those that went short at $52k are probably gone and liquidated so would not make sense.

There is also the ADX showing some what flat, so no real strength in the current upside move and with time running out the ADX could position in a positive direction in favor of the temporary downside move.

Bitcoin 4Hr Chart

If I’m taking any trades would probably be between Tuesday and Wednesday when the price has gone a bit down, I’m expecting the price gets attracted to that volume zone of $60k that will also be a psychological number too where the market is going to try to “protect” the price, causing a reaction bounce that I hope is anything over 5%, at 5x that’s a good +20% gains depending on my entry.

I’m really looking for this trade as I’m only getting over two looses that put me back to square one on this experiment of mine, learning how to trade, I now paper trading is not even close to trade with real money but that is another phase I will have to go through, at the end of the day should not be hard as time goes by and I keep trading according to the strategy I’m practicing, its not only about the indicators and speculation but also about the capital management, if I can make it work paper trading then should also be able to do it with real money, I’m not planing to put down the tens of thousands to start but I’m way too far from putting some cash down since my plan is to do at least 100 trades, probably will take me all 2025 and part of 2026 at the pace I’m trading, I’m in no rush atm.

Posted Using InLeo Alpha