The growth rate of my assets over 90 days is 100.93%, which is higher than 99.6% of Binance users! ❤️
How did I achieve this?
Easily! Disciplined trend trading. Using simple entry criteria! Moreover, I only trade a few assets - $BTC $ETH $SUI and do not spread myself thin on other coins.
🧐 Price $BTC just made a small breakout at 79.450, which allows us to reassemble the zigzag pattern at the end of the rally into a final diagonal - the 5th wave of the impulse.
The end of the uptrend is already near. This rise resembles an impulse in wave C of the ABC zigzag. And the low volume zone could indicate a reversal.
We're waiting for a breakout from the channel - a sign that the impulse is fully formed.
Negotiations between the USA and Iran have failed!
Another round of talks went sideways. This has become quite the weekend tradition. The price $BTC took a hit ahead of the negotiations, and not many were holding out hope for a positive outcome! Iran made it clear right away that they wouldn't show up.
👀 What's the growth structure according to wave analysis for $BTC ?
Considering the divergence (👉link), the entire rise of Bitcoin can be divided into two equal zigzags (W)-(X)-(Y), which also consist of zigzags within.
This is yet another argument that the growth of $BTC has ended and a wave of decline is starting! 📉
🙄 Guys, have you noticed that $ETH looks weaker than $BTC ?!
False breakout at the Swing high, divergence - Ethereum has a solid chance of a drop. After such divergence, I expect the price to fall into oversold territory.
The latest surge formed 3 peaks of divergence. Such divergence usually plays out with a drop into oversold territory. The movement within the channel isn't allowing $BTC to drop yet, but a trendline break should change the game!
🙄 The ceasefire regime has effectively been canceled. Iran stated that it attacked American warships using drones in response to the strike and seizure of an Iranian cargo ship by the U.S. in the Strait of Hormuz. We await the U.S. response. The stock market reacts with a decline - $BTC , $ETH are falling along with it! 📉
👀 Liquidity collection before a stronger drop on $BTC ?
It would be funny if this rise in Bitcoin was just a liquidity collection before a stronger drop.
Signs to watch for: 1. Resumption of hostilities between the USA and Iran. 2. Break of trend support 3. Drop below MA100 4. Drop below MA50
This rise occurred on hopes of a ceasefire between the USA and Iran this weekend. There is no ceasefire, the Strait of Hormuz is closed, Yemeni Houthis have stated they will also close the Bab-el-Mandeb Strait. Panic in the markets will give Bitcoin a good downward momentum. Next week will be interesting.
The price broke the daily MA100 and the high in the range. The breakout opens good growth options, up to the daily MA200. The news background and the situation regarding the war in Iran are completely on the side of the bulls. In such a situation, I can no longer afford to hold shorts.
I have been left with the feeling for the second week that we are witnesses to a well-planned mystification.
Do you remember why the markets suddenly began to rise? Trump published a series of posts about negotiations between the USA and Iran, which gave the markets several impulses for growth. However, while there were at least some details and activity from the negotiating groups in the first round of talks, the second round is completely unclear - neither in terms nor in requirements. Plus, the representatives from Iran are silent.
Additionally, today the Security Council of the Russian Federation warned that the US negotiations with Iran might be a cover for preparations for a ground invasion.
Personally, I highly doubt that this war will end so quickly. It takes two to tango. And the representatives from Iran do not seem like those who will dance to the music ordered by Trump.
The breakdown of negotiations and the continuation of hostilities will trigger a new wave of panic in the markets. And this is a dump $BTC , $ETH , etc. Perhaps it's already time, #S&P500 set a new ATH. Let's observe!