BTC - Monthly Logarithmic Chart

BTCUSD - Monthly Logarithmic Chart

This primary trendline has served as a definitive floor for every major correction exceeding 50% since 2014.

BTC is currently trading 3.9x ATR% below the 50-MA. This extension suggests an asymmetric risk-reward profile favoring the long side, provided you can entry manage a base or intraday entry on LoD off a key technical level, ie. $59,998 low coinciding with round number support $60,000.

Further breakdown from current level will mirror November 2018, the last time BTC hit -4x ATR% from the 50-MA. That instance saw a further -42% flush from a bear flag setup before the ultimate bottom was set, leading to a massive 350% 6-month surge.

If the current market correction deepens with more pain displayed on media headlines, BTC is shaping up to be a high-conviction opportunistic play. The goal is to stay patient and wait for the 'washout' to provide the high upside entry

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":529773936136840,"tweetId":"529773936136840","gmtCreate":1770359880365,"gmtModify":1770362036669,"author":{"id":4111534201015342,"idStr":"4111534201015342","authorId":4111534201015342,"authorIdStr":"4111534201015342","name":"jfsrevg","avatar":"https://community-static.tradeup.com/news/ee02d7fb604ca04ecc1f7458c0d22e86","vip":8,"userType":8,"introduction":"@jeffsuntrading","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":1611,"starInvestorFlag":false},"themes":[],"images":[{"img":"https://community-static.tradeup.com/news/35d2059dab9ea9664a267b113dee409f","width":"1661","height":"992"},{"img":"https://community-static.tradeup.com/news/08f634614aa803d72e15c2a9cc290c20","width":"1660","height":"992"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/35d2059dab9ea9664a267b113dee409f","width":"1661","height":"992"}],"title":"BTC - Monthly Logarithmic Chart","html":"<html><head></head><body>BTCUSD - Monthly Logarithmic Chart\nThis primary trendline has served as a definitive floor for every major correction exceeding 50% since 2014.\n<img alt=\" \" title=\" \" src=\"https://community-static.tradeup.com/news/35d2059dab9ea9664a267b113dee409f\" tg-width=\"1661\" tg-height=\"992\"> \nBTC is currently trading 3.9x ATR% below the 50-MA. This extension suggests an asymmetric risk-reward profile favoring the long side, provided you can entry manage a base or intraday entry on LoD off a key technical level, ie. $59,998 low coinciding with round number support $60,000.\nFurther breakdown from current level will mirror November 2018, the last time BTC hit -4x ATR% from the 50-MA. That instance saw a further -42% flush from a bear flag setup before the ultimate bottom was set, leading to a massive 350% 6-month surge.\nIf the current market correction deepens with more pain displayed on media headlines, BTC is shaping up to be a high-conviction opportunistic play. The goal is to stay patient and wait for the 'washout' to provide the high upside entry\n<img alt=\" \" title=\" \" src=\"https://community-static.tradeup.com/news/08f634614aa803d72e15c2a9cc290c20\" tg-width=\"1660\" tg-height=\"992\"> </body></html>","htmlText":"<html><head></head><body>BTCUSD - Monthly Logarithmic Chart\nThis primary trendline has served as a definitive floor for every major correction exceeding 50% since 2014.\n<img alt=\" \" title=\" \" src=\"https://community-static.tradeup.com/news/35d2059dab9ea9664a267b113dee409f\" tg-width=\"1661\" tg-height=\"992\"> \nBTC is currently trading 3.9x ATR% below the 50-MA. This extension suggests an asymmetric risk-reward profile favoring the long side, provided you can entry manage a base or intraday entry on LoD off a key technical level, ie. $59,998 low coinciding with round number support $60,000.\nFurther breakdown from current level will mirror November 2018, the last time BTC hit -4x ATR% from the 50-MA. That instance saw a further -42% flush from a bear flag setup before the ultimate bottom was set, leading to a massive 350% 6-month surge.\nIf the current market correction deepens with more pain displayed on media headlines, BTC is shaping up to be a high-conviction opportunistic play. The goal is to stay patient and wait for the 'washout' to provide the high upside entry\n<img alt=\" \" title=\" \" src=\"https://community-static.tradeup.com/news/08f634614aa803d72e15c2a9cc290c20\" tg-width=\"1660\" tg-height=\"992\"> </body></html>","text":"BTCUSD - Monthly Logarithmic Chart This primary trendline has served as a definitive floor for every major correction exceeding 50% since 2014. BTC is currently trading 3.9x ATR% below the 50-MA. This extension suggests an asymmetric risk-reward profile favoring the long side, provided you can entry manage a base or intraday entry on LoD off a key technical level, ie. $59,998 low coinciding with round number support $60,000. Further breakdown from current level will mirror November 2018, the last time BTC hit -4x ATR% from the 50-MA. That instance saw a further -42% flush from a bear flag setup before the ultimate bottom was set, leading to a massive 350% 6-month surge. If the current market correction deepens with more pain displayed on media headlines, BTC is shaping up to be a high-conviction opportunistic play. The goal is to stay patient and wait for the 'washout' to provide the high upside entry","highlighted":1,"essential":1,"paper":2,"likeSize":39,"commentSize":0,"repostSize":1,"favoriteSize":0,"link":"https://ttm.financial/post/529773936136840","repostId":0,"isVote":1,"tweetType":1,"viewCount":452,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["GTLS","XBTmain","BTC.USD.HKCC","BTCmain"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":true,"length":763,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/529773936136840"}