Daily Report – Bitcoin and Market Update (March 1 2021)
Monthly closed as a bullish candle over the last months High confirming upside continuation. At the same time, intra-month supply between 45137 and 58367 showed clean selling from macro players. As long as this zone is filled with bulls and March closes high inside the intramonth supply range or above, bulls are safe. Until then, March should be equipped with a question mark. The information I take from this chart as a certified analyst, tells me that I want to raise my caution during March and let myself book some profits off the table. I’m definitely planning to cash out another series of profits around lower highs around 56k. You already know about my slow realization over exit strategy and recirculating those profits into way more undervalued market that commodities are. Caution and another profits series out of crypto is my plan for March.
Weekly closed as a bearish candle, although marked as bullish by Stock TKD (Birbicator) filter, obviously because of strong uptrend. Last week of February brought -25% drawdown, which was quite intense with 14-15k dollars of downside impact. This is exactly what I had been talking about for long time already. We are witnessing volatility boost, which means that the higher levels BTCUSD marks, the more inflated the market, and the bigger the risk of losing money. Every day gets us closer to the market peak. The bigger the volatility, the closer to the market climax. That is a factor essential to establish peak of the bull run and that his how you will know when the peak is imminent. If there is insane euphoria all around you, everybody’s getting rich and refusing to realize profits, and the biggest 15-20k upside candles appear in a day, that’s going to be the peak. Until then, breaker high at 49275 is the level to be reclaimed on weekly candle by bulls to continue upside rally safely. Close through that level will confirm the last week’s supply is reclaimed by buyers, annihilating bearish impact. Weekly supports: 32522, 38927; weekly resistances: 59623, 66029, 76377.
Daily bounced heavily of 43-44k support zone given yesterday’s several times to the Exclusive Nest Club members in advance. Currently retesting the baseline with solid BVWAP resistance at 49.9k. Bearish impact of ongoing short-term correction is going to be annihilated the moment that a daily session closes through the breaker high level of 55628 with a breakout over long range BPRO volatility bands. Daily session could really only fall in trouble if closed a bearish selling candle below Breaker Low of 40806, which I don’t see happening for now, provided that nom military/political/economic wars occur that would make the markets derisk. Unless that happens, resistances remain as follows: 58041, 64277, 74350.
Middaily session reacted in a strong bullish upside bounce off the price action based demand cluster 42-46k. It consisted of long lower candle shadows which were confirming interest from big buyers inside this zone. Bullish reaction we are looking at right now is a result of BTCUSD being longed aggressively by whales in past few days, when the sentiment flipped from extreme greed 91 to 55 (note the screeenshots attached). Middaily default length baseline levels to break to print bullish confirmation is 54-54.4k area. Once reclaimed, bulls’ strength should enhance towards 60-70k targets easily. Until then, dips near the demand cluster are for buying. Watch for hourly oversold Birbicator and BPRO bullish trend change signal.
BPRO flashed solid short-term “buy signal” which suggests bullish trend change. Local resistance from BVWAP at 49.1k clusters with 49.5k short-range volatility band resistance. It means on intraday basis longing here, not on the dips, is quite late. Dips are for buying definitely, anywhere near the baseline and breaker low at 45893. As you know from my most recent market report updates and comments in the #nest-club chats, and webinars, I’m expecting 56k retest within next 10 days approximately. I’m going to use this peak to scale out some profits off the table to load up silver while it’s still cheap along with gold.
Hourly BTCUSD is resisting at short-range volatility bands from BPRO on long length. Breaker Low remains at 44512 and this level, if reached again, should be very profitable buy-the-dip opportunity. Long-range band resistance at 50.4k, if broken above, then should continue upside expansion towards 55-57k hourly price action cluster presented in the chart. Technically, BTCUSD still trades inside local range between short-range bands and until the upside breakout occurs, it still is more of non-directional choppy sideways, rather than steady strong uptrend. For this reason, this should raise caution for the short-term traders who were planning to go all in at this very moment at local resistances from the range highs. Liquidity is being collected on the intra-hour basis, which is reflected by the upside candle shadows. This brings chances of local throwback towards the breaker low 44.5k-45k support area. For more information, please check #video-report channel where after a long break, I drop brand new, fresh video report available only to the exclusive members. God bless you and have an amazing week.
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