⚔️ Bitcoin's Current Situation 9/18/2020

in hive-175254 •  5 months ago 

We are 15 minutes away from the NYSE opening.
I'm posting premarket conditions and where this could lead us in the next 24 hours. Of course, when the market opens, we then can see what route Bitcoin and the markets will go for September 18th, 2020.

Coinbase 1hr

20200918_214025 1hr coinbase.png

We fell out of the channel yesterday, however, we have entered it one more time to test the $11,000 mark.
But as you can see, we are coming up to a very important fork in the road.
I believe this will "draw the line in the sand" for Bitcoin going on a brand new Bull Run, or just dumping back down to the $9600 range. So, we have to keep a VERY close eye on this issue at stake.
Let's take a look at Bybit.

4hr Bybit chart

20200918_215747 4h bybit fork in road.png

This is what I'm talking about. A FORK IN THE ROAD>
As you can see, most every time we hit the yellow ring, we go UP (big time!)
But one time, we didn't touch the ring, we came tumbling down.

closer (same chart but zoomed in)

20200918_215747 4h bybit fork in road 2.png

I think this is a "do or die" situation that no one mentioning.
I wanted to bring it to people's attention.
The approach date could be at or around September 20th.

Wall Street Prestats

20200918_214223 prestats.png

Wall Street Prestats
First off, this is a good tool to use to determine the direction of the market before the stock market opens up.

Dollar Index: current time of post (2hr chart)

20200918_214435 dollar.png

When the US dollar goes up, the rest of the markets go down.
This means Bitcoin and the Dow (and other stock markets) will go down.

Sometimes when the NYSE opens, the direction can change, so let's keep an eye on it. After it opens, I can post post-stats to see where we are on the 'map'.

Dollar Index: current time of post (3hr chart)

20200918_214836 3hr dollar.png

Here is the dollar "road map" on the 3hr time frame.
Sooner or later, the dollar will rise and rise, and just not come back down until it goes into a new channel above.
Currently, support for the US dollar sits at 92.76 and the resistance is at 93.52.

one more thing....

CME gaps

20200918_220815 gaps.png

And the last thing I wanted to bring attention to is.... the CME gaps. Everyone seems to know about the gap below us, but there are 3 more ABOVE us!!!! Today (about 7 hours ago, the first gap I marked at '1' has been filled.
the other two gaps are at:

  1. gap 2: $11,340~$11,620
  2. gap 3: $11,650~$11,950

So let's be aware of this. The first gap has already been filled, so why not the other two? They are NOT THAT FAR AWAY....

bye for now~

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Will you be buying back at 9,600 if btc falls to that level @gungho?
The price predictions for BTC is really exciting too for the end of the year and I do not really know what to expect.

  ·  5 months ago (edited)

The CME gap below us is between $9915~$9665 @cryptopie.
I'm going to buy in at the major support/resistance line that has a history since December 18th 2017.
It has a lot of traffic.

What used to be resistance.... from 2017, 2018
20200919_051454 cryptopie1.png

became support in 2019, 2020.
20200919_052714 cryptopie2.png

...then we broke that resistance and landed on the red line around the 3k region (last crash).

This time, when we fall, we should be returning back to the major support/resistance line, which is at $7416. I'm fully buying in at $7450 just to make sure my order gets executed. What if I were $10 off or something!!? This is where they say there will be a nice bounce for profit. If that $7450 doesn't hold, the next support line is down at $2926, but I don't want to think about that yet. lol!
We just have to wait and see the circumstances as the bitcoin story unfolds.
(These charts that I'm using are the Bitstamp 1Day chart, so we can see the bigger picture.)

Things depend on other factors as well, such as

  1. corona vaccine
  2. United States stimulus checks
  3. the Jerome Powell speech (which didn't go well)
  4. and the Presidential election: Trump VS Biden
  5. and the stock market crash

Hello, appreciated @gungho.

Thanks for choosing Project Hope.

When the US dollar goes up, the rest of the markets go down.
This means Bitcoin and the Dow (and other stock markets) will go down.

The relation you make between the price of BTC and the price of the Dollar is very interesting.

I was also struck by the fact that you say it is a "do or die" moment. Doesn't that seem too radical?

I guess what I meant by "do or die" is that if Bitcoin were to dump and I have everything in Tether, I would be able to swipe up cheaper Bitcoin. But if the market decides to take a turn and suddenly skip the dumpage and go off on a new bull run era, I would feel like missing out and have to go all in and become a bull and also taking a risk of Bitcoin doing a fake out. For me, that white line in my chart is the line in the sand as to when I switch everything to Bitcoin or switch everything to tether. / and yes, my approach to market direction is a unique one, I'd admit. When all the money is in the dollar, it isn't in other markets. This causes the other markets and crypto to go down. When they start selling the dollar, it means they are buying other things, which means other things go up.

Wow, You left me speechless!

You show great knowledge, I consider that your analyzes are of great value and your interpretations are unique and original.

You should have a lot more followers so that your work has more exposure. I am convinced that here at Project Hope you will gain new fans.

Thanks for sharing your work with us.
Resteem!

Thank you @juanmolina, sir.