Daily Report – Bitcoin and Market Update (February 15 2021)
Weekly chart on near length tuning from BPRO flashed buy on the week close before the most recent one. As long as BTC is trading and closing weekly sessions over breaker high of 42283, BTCUSD is steadily going upwards towards 60k and R3 65539 area. Baseline support provided at 42k confirms 42-42.3k is of special short-term significance for weekly chart. Speaking of long term perspectives, it is essential to understand which stage of the market cycle we’re in right now. Results are staggering. Read on.
This chart represents NUPL – Net Unrealized Profit/Loss on BTCUSD market.
It compares the unrealized mcap with the current market cap. I.E. it reveals how much money/profits retail investors are leaving on the market in their certainty trend is going to continue infinitely upwards. It can be viewed dually and that’s how I personally use it: 1) Sentiment indicator: retail investors are certain in their greed trend will continue. The greater NUPL value, the more certainty/greed on the market. 2) Liquidity pool indicator: unrealized profit is circulating liquidity that the market makers, whales and institutions will use to ensure they exit the market. Whales need to let the liquidity build for their multibillion $ positions in BTC. To avoid high slippage and giving millions of $ back to the market by inefficient market selling, the whales need to build the liquidity. It is achieved via aggressive marketing campaigns, TV stations, newspapers and other mainstream media/ways to reach out to the average Joes, who never dealt with financial markets before. You will see more and more Teslas, Apples, Microsofts, Fords, Googles, Alibabas, Facebooks, Amazons approving BTC and crypto payments. But don’t fool yourself. Those are the wealthiest companies in the world as they know what they’re doing and how to play this game. Those are not entering BTC for investment puroposes after its made x12 in under 1 year. Their goal is to send the message and unlock new market participants. They need to build the liquidity. That’s their main goal. It means that the more of big players engage in BTC, the closer to the bear market start BTC gets. IMO we’re about 65-70% done in completion of this bull market gauging on NUPL, fear/greed and Google trends.
Daily BTCUSD chart looks definitely convincing for the further upside expansion within the next weeks and months. Price action is leading over BPRO upper bands in the low-momentum upside movement, which is usually spotted before vertical upside intraday rallies coming as the result of the short squeeze. Baseline support remains at 42.2k along with the breaker high, which is decisive level to hold for the local uptrend to continue. The next resistances provided by BPRO short and long range band extensions are as follows: 51063, 56549, 65411. Those levels should be the logical direction for BTCUSD for the next weeks, provided that we don’t see any unprecedented and unpredicted news-driven price shocks/black swans e.g. global military conflicts or other occurrences that would mean sharp risk-off across the global markets.
Middaily chart provides clean retest of price action of BTCUSD against BPRO volatility bands. The pattern of a rising wedge was compromised as the middaily session violated the dynamic upwards support of the wedge, but bulls managed to pull BTCUSD price to close over the broken support – no bearishness as a result. In fact, failed patterns tend to be more profitable when compared with classical textbook pattern breakouts. Intraday price action gives wide range of volatility. As the volatility is measure of the risk in investing and finance, both volatility and risk are expected to continue accelerating in the next weeks and months. The upper diagonal of the rising wedge, which acts as a dynamic resistance, once violated and closed through is going to trigger short squeeze mechanism and teleport BTCUSD into 50-60k area. Momentum wave of BirbicatorPRO is accelerating in a very apparent way by increasing the bandwidth. The bandwidth expansion suggests increasing trend momentum – trend accelerating and getting stronger, which sets directional confirmation and high chances of upside continuation.
MTF picture shown with 4H candles presents BTCUSD retesting local breakdown of Stage 2 Momentum Wave with BWAP (BPRO VWAP) dynamic support at 46.6k, which is the main short term support for BTC currently. In case bearish news and bears escalate (rather unlikely), the next Stage 3 BPRO Momentum Wave at 43.6k is going to serve as the more distant support and very encouraging buy-the-dip opportunity for intraweek traders. Breaker High resistance at 50153 is the arbitrary level above which bears will meet nothing but short liquidations and short squeeze. Long Range BPRO Bands provide resistance at 54k and 56.7k, which should serve as the next significant resistances on the way up.
Hourly interval provides clean price action picture for BTCUSD, which is moving inside low-momentum consolidative movement. Unless scalpers and day traders, ignore buy/sell tickers. Also kind reminder that those pointers are NOT directly buy/sell signals. After meeting certain criteria mentioned in the full BPRO documentation, those can become actual buy/sell signals depending on a trader’s style of trading. BPRO Bands are showing local key-significance regions in the chart that will act as the main support/resistance levels along. Those are as follows for supports: 45.6k (BWAP), 44.6k, 42.2k. For the resistances that come out with the most technical importance, please note the following: 48877, 52.4k, 54.9k. Those provide traders with a clean map of targets to expect in either direction. Classical technical principles suggest that consolidation after sharp upside rally (which was the case for BTCUSD in the past days) usually suggests trend continuation. The condition is to close through the diagonal resistance of the wedge pattern mentioned in the previous timeframes breakdown. Kind reminder that you can still equip yourself with the access to the legendary BirbicatorPRO trading system, which has already generated insane profits confirmed for most of the users gauging on reactions and testimonials. Due to insane demand for BPRO access, I may need to increase the prices again in the near future. This is money-printer confirmed and trading with that almost feels like cheating. The advantage is huge and makes trading with my 6 figures positions completely stress-free. If that’s not enough to convince you to give it a try for a month or more, then just letting you know I’m going to use BPRO to trade my own company’s funds, also for passive earnings in future.
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