Crypto Rob Art
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3rd Market Update On 16TH OCTOBER, 2024
🕑 Added 2024-10-16 15:42:35 +0000 UTCHello again my friends,
This is the 3rd market update today. Don’t think I’ve ever done that many in a single day.
Either way, as promised I’m glued to the BTC chart.
If you would please kindly open the 1st chart (says 1 in white) you’ll see that BTC has completed the exact same crashing structure it did from March to July. The crashing structure from August to November is practically identical. First one is in yellow lines and the second one in blue lines. The last time, the yellow set up ended with a candle wick just above the diagonal resistance indicated in a green line. When it failed to close above it, we had a massive correction to $49,000.
Currently, the blue market structure has also completed with a wick just above the green diagonal resistance. You can see both occasions marked on the chart with 🔽 blue arrows.
This is why it’s so crucial for BTC to break out here and close a candle above that resistance. Otherwise history will repeat itself.
Now please look at chart number 2. As long as BTC gives a clean break of $71,000 and closes a candle there, then doesn’t go below the last higher low at $58,000 before bouncing higher, we have a confirmation of a bullish reversal. Which means some of our alts and coins will pump higher.
BTC dominance is steadily and slowly growing, so we want to see BTC continue smashing resistance levels because if it doesn’t and crashes instead, alts will bleed harder.
That’s why we have been de-risking for months to make sure we aren’t caught by surprise. We are ready and prepared for both scenarios.
Hopefully BTC breaks out and we can start and continue taking profits on the way up with coins we diversified into. If not, we will buy a crash that’s big enough if it comes first. Pump = take profits. Good enough crash = buy and sell the bounce for a good profit.
Patience. We wait.🤜🏻💚🤛🏻
Comments
Matthew Hilton
You da man, we all appreciate your dedication.
PI KI
was same for 7 years now i put 2% into trading.. cant just sit and wait. but i dont touch the rest until time is right. keep up the good work!
Rob Art
I never short and never use leverage, but I do wish you luck and profits🙂🤝🏻
Rob Art
Thanks bud👑🙏🙂
PI KI
i need a crash to close my leveraged shorts on shitcoins without value :) it will happen
ArcaneWealth
Frequent updates are amazing 💚 appreciate you 👑
Rob Art
🤜🏻💚🤛🏻🙂
Goh Sam
Love these updates. I feel the 🔥 bring it on rob
