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Don't remind me again today
Sykodelicc
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This is a very important chart analysis for you to understand.
I am seeing people talking about $35k levels next year and it's absolute rubbish.
Firstly, for Bitcoin to retrace 75% it actually has to fully expand, and this cycle, it just did not do that.
Those kinds of retraces are only possible because the level of expansion makes that level of contraction possible.
You can see on the 1M RSI that we barely even touched any degree of overbought, for the first time ever.
Every previous cycle has had huge pushes into the upper band of oversold.
Secondly, even if this is the big bad bear market,
BTC-0.03%
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I have so many people telling me I am wrong today.
So many accounts with 100 followers laughing at the content I share.
All whilst the Short term holder profit/loss ratio has hit it most extremely low level ever.
It has only tagged this level twice, with a close third:
- $49k bottom 2024
- $24k bottom 2023
And now.
Short term holders are totally tapped out, whilst last week ETFs bought over $500m.
No matter what has happened, the ratio has always returned to the green.
And the steeper the drop, the steeper the rebound has been.
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This is the 3rd most oversold level for Bitcoin ever...
When it comes to short term holders.
The only two times Bitcoin was more oversold for STH's was:
- Bottom of the bear market 2018
- Bottom in May 2021
This shows us that short term holders(emotional holders) have utterly capitulated beyond belief.
They are rekt.
Every time this oscillator has pushed sharply into the green, it has marked at least a decent local bottom.
BTC-0.03%
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There are now almost $15bn in short liquidations...
And that is only up to $100k.
I am very confident that Bitcoin is now forming its higher low here, and getting ready to bounce heading into FOMC and throughout a lot of December.
The downside is being over done here, with another $1bn in liquidations in the last 24h.
Short term holder capitulation levels have reached the second most extreme point ever, only second to the $49k Yen carry trade bottom in 2024.
Even if you are in the camp that the cycle is over and we are retracing 75% into a prolonged bear, you will want to wait until the market
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The timeline is losing its mind today.
I feel like the overall sentiment has become extremely jaded...
And everyone becoming increasingly more and more irrational and emotional.
You must ensure you do not get sucked into this vacuum of doom and despair.
The vast majority of people will post about the price going down the more it has gone down... and the price going up the more it has gone up.
Which is why reversals after down only or up only price action catch everyone by surprise.
Recency bias is a big thing.
Anyway, it's important to analyse where we are now, and what we have coming.
Over th
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This chart tells a deep story.
I wanted to add a bit more data to my earlier post about the 1M MACD bearish cross.
Here we have:
- BTC
- COPPER/GOLD
- ISM/PMI
- MACD
COPPER/GOLD and PMI tell an accurate story on the current position of the liquidity/economy cycle.
I have highlighted the times in which BTC has had 1M bearish MACD cross over the last 8 years, and if we observe all the charts together it shows us this:
In 2018 and 2021 COPPER/GOLD & PMI were at the highs after expansion, beginning to downtrend.
In 2019 and now, COPPER/GOLD and PMI are at the end of contraction/long downtrends.
Th
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This is actually a great start to the month.
1. We didn't get a Sunday pump
2. CME gap already closed
3. $400m in long liqs taken already
Downside liquidity swiped first, which is what we want to happen.
We now have almost $2bn in shorts between here and $92.5k. And $13bn in shorts between here and $103k.
In terms of long liquidations we have $2.7bn down to $83.5k.
It would've been a lot more worrying had we pushed hard on Sunday, taken the short liqs first, then headed for longs after.
Take long liq first, form a higher low and begin to put in. a base heading towards FOMC and year end.
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You are going to see this shared a lot.
There will be a very high number of accounts posting this like robots...
"1M MACD crossed bearish + multiple closes under 50SMA, every time that happened it means the cycle is over"
But it's not true.
I've been saying to you all for a long time now that our current market position in Bitcoin and in altcoins is more like 2019 than 2021.
In 2019 we never made new highs as a mid cycle top, because we did not have ETFs and government adoption.
But we are in a very similar macro/liquidity/business cycle position to where we were then.
And back then, we had 5
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Everybody is beaten.
I have never seen SO many articles, posts, videos and whatever else, all saying how Crypto is pointless.
How no one is interested, there is no value, its a scam, and how it has no future.
With almost all accounts collectively cheering on their own demise.
And all of this is happening while Wall street has 100+ Altcoin ETFs in the works.
The market makers/smart money/hedge funds have done an incredible job is beating the shit out of Crypto believers...
To the point that there is only apathy left.
But this could not be more of the worst time to be feeling this way.
It doesn'
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Is $ETH about to go on another mega run?
On December 3rd, the Fusaka Upgrade is happening.
A very overall bullish upgrade for the entire network.
And last time we had a big upgrade, PECTRA, $ETH pushed almost 300% in the following months.
Price action has also been strikingly similar leading into this upgrade as the last one.
Of course, there is a lot more nuance to a price breakout, but this upgrade is lining up with a whole lot of other bullish signals that are showing us higher is next.
December is shaping up to be a more bullish month across the board.
ETH-1.54%
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More and more bottom signals firing every day here.
And it’s so funny watching the timeline during low volatility.
Everyone is like a crack Addict for these candles.
As soon as things are chill the timeline loses their minds.
The longer it goes on, the more afraid people get.
The more panicked they get.
All they can remember is fear and loss.
And the the quiet begins to gradually erode at their emotions and they can stop the fear creeping in.
This is a textbook slow reversal, and it will continue to push higher than most think possible.
Then the first proper rejection will happen just as
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If the bottom is not in for alts now...
It will be in within the next two weeks.
We just had a Death cross print on TOTAL3, and each time this has happened within the last 6 years it has marked at lease the local bottom within 2 weeks.
Exactly like how the BTC death cross marked the bottom, which I covered in depth over a few weeks for you.
Again, this is only one data point, but it is a strong one.
When you combine things like this with every other piece of data I have shared, it serves as strong support for our thesis.
Much higher for alts soon.
BTC-0.03%
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If you are still expecting a year long bear market to start here...
I have a bridge to sell you.
I don't understand how anyone that claims they have a solid understanding of the crypto markets and macroeconomics can have that thesis.
Even worse, the people who are comparing right now to 2021 with that fucking fractal is wild.
You think that we're gonna get the exact same ending do you?
Just cos you can pull up a chart, add the SMA and the MACD, and open a nice big short down 75%?
No.
If you do not have a deeper level of understanding in this game you will pushed and pulled by every single mark
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You have to be prepared for this.
And I am posting this today as it is very important to ensure your head is in the right place.
Because I KNOW that if/when BTC retraces some of this move, the sentiment will instantly be horrendous again...
And you will all start making bad decisions.
It is VITAL that you have correct expectations when it comes to bottoms forming.
Otherwise, you will get totally chopped up.
We HOPE for the best... But prepare for the worst.
A lovely V shape reversal back to ATHs would be great for the bulls...
But even though I share certain things about that, I am still prepa
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It honestly couldn't look better here.
I know this correction has been rough for holders...
But it's crazy to think that everyone has been losing their minds, calliing for a bear market and capitulating their bags...
When the charts look like this.
You only need to layover the BTC, BTC.D and TOTAL3 chart to get a clear picture of the market position.
We can literally see that during the last cycle the charts were in the exact same position before mega altcoin expansion.
It doesn't matter about an arbitrary number of 4 year cycle by itself...
You have to look at market structure and macro pictu
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Bitcoin showing some strength here.
For the first time since $116k Bitcoin has broken above it's previous LTF range.
With a strong push above the 50sma.
We can see here that since $116k, every time Bitcoin tried to push back into an upper range, it got rejected and make new lows after.
This time, however, it has finally pushed higher.
Of course, this is simply LTF put these are the sort of things you can watch for when it comes to understanding the nature of trend reversals.
What we want to see now is a daily close above $89k, confirming the break of trend.
You know my overall thoughts very we
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We are looking so ready.
The time of small caps in both stocks and Crypto is upon us.
And we can see this very clearly from the correlation of the Russell 2000(Small cap stocks)...
And ETH, which is the King of small cap Cryptos.
Both of these forms of assets are the most sensitive assets in the world to liquidity.
More liquidity = bigger moves
And the Russell 2000 is sniffing out that liquidity right now, having one of its strongest 3 days periods ever...
After a clean retest of the highs and rebound.
ETH, now completing a 50% correction from its highs has a very very tight correlation to th
ETH-1.54%
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I know this is hard to believe...
But altcoins are looking absolutely coiled here.
And ETH/BTC is showing us the way.
ETH/BTC, yet again, is another extremely clear indicator that we are nothing like 2021...
And it is extremely clear when you take some time to look at it.
ETH/BTC is a beach ball underwater...
And you know what happens when ETH outperforms the market.
It is going to go something like this.
- BTC bottoms and pushes higher
- ETH pushes harder and ETH/BTC sends
- BTC.D continues to drop lower and lower
- TOTAL, TOTAL2 and TOTAL3 make new highs
- OTHERS makes new highs a bit behind
ETH-1.54%
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Something very interesting is happening here...
And it is going unnoticed by most people.
The overall market is telling us what is next.
What we have here is TOTALE100/BTC.
The top chart is the TOTAL market cap, excluding the top 100, in comparison to BTC.
These are all lower cap alts under $1bn and without any stable coins at all.
And right now, they climbing higher against BTC.
Below we can observe that BTC.D, as well as on a HTF downtrend, is on a LTF downtrend.
Again, these are not the overall market makings of an end of cycle.
These are the makings of the start of the end of the cycle, in
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This is incredibly bullish.
And it lines up with everything else I have been saying.
BTC/GOLD is ready for a mega run.
What this chart shows us is the strength of BTC against GOLD.
And since December 2024, BTC/GOLD has been in a very crisp HTF ABC correction, declining exactly 50%.
Before that, we have just as crisp 5 waves up.
Absolutely textbook stuff.
So where are we right now?
Well, the 1W RSI has reached oversold levels only seen at pico bear market lows.
And at the same time, the chart is completing a 1 year long ABC correction pattern that, as I mentioned, has corrected exactly 50%.
The
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