Today, Sunday February 7th, 2021 we got a secondary top in Bitcoin. The BTC chart is our leading indicator for the crypto market. In this public post we feature a chart that comes from our proprietary research, shared with premium crypto members. Crypto bulls can prove themselves right, and they have 2x 72h to do so. If they don’t succeed by Friday February 12th, 2021, we believe BTC did set a giant topping pattern … which will lead BTC to test its breakout level of 18k-20k USD in March or April of this year. No, we are no perma bulls nor perma bears, we are realistic in analyzing any chart, first and foremost crypto charts because they come with elevated risk levels (which is why they come with elevated profit potential).
The chart below shows how we analyze BTC, leading indicator for crypto markets.
It is the simplest complex chart that we create. Yes, there is a little bit of ‘complexity’ in here, especially if you consider the vertical lines and colors. But we never make things more complex, so in a way this is simplest possible chart we produce.
The vertical lines represent 72h timeslots. And that’s what characterizes crypto markets, particularly BTC: it ‘achieves’ something in a 72h time window, and gets the next 72h window to confirm (or not) its achievement.
This is how we simplify a complex consolidation, and stay focused on the opportunity and the risk. This is the way to neutralize emotions, avoid being trapped in price swings, and stay unbiased.
What this chart tells us is very simple: BTC printed a secondary top yessterday, and this 72h time window is to confirm (or invalidate) its topping pattern. The current 72h window runs from Sunday morning till Tuesday night. Ultimately BTC has time during the next 72h window (Wed – Fri) to still break up above this topping pattern.
In other words, if BTC doesn’t move outside of this rounded formation, it will be trapped in a topping pattern … and the bears might take over control ultimately … going into March.
The opposite is true is as well: if BTC moves outside this rounded pattern (read: higher) it will accelerate its upside move.
Indeed, a decisive week for crypto markets is upon us, and the magic date is Friday February 12th, 2021. We will be watching our chart closely, and notify our premium members as required.
On Tuesday, we flashed a crypto alert to our premium members featuring ADA top of the suggested coins that were ready to move. ADA went up 100% since then. Sign up to get access to our crypto market alerts, and get notified about cryptocurrency opportunites whenever we observe them >>