Bitcoin Buy The Dip?

Could we see a correction on NASDAQ & Bitcoin based on lower time frames?

Author

Jesse Olson
February 19, 2024

In this issue we’ll cover higher time frames are still bullish on Bitcoin, Crypto, and NASDAQ but based on lower time frames we could see a correction.

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Bitcoin

We just saw price hit $53,000 for a brief moment & we just had the highest weekly candle close since November 2021.

Case for mid to longer-term bulls

  • Daily chart is currently ultra bullish aka “overbought”

  • Weekly chart is ultra bullish aka “overbought”

  • Monthly chart could flip ultra bullish this month or the next

Weekly Chart

Monthly Log Chart

ANF Potential Targets

Will we see more targets get hit on this shorter-term correction based on the 4-hour chart? Next buy the dip scenario?

  • Bearish divergence

  • Had a sell signal on the 4-hour chart & hit target 1

4-hour Chart

Quick 14 Minute Bitcoin Video Update:

Crypto

Ethereum has hit 3 of the initial 4 longer-term targets so far. Added additional targets based on other assets hitting these similar targets.

Monthly Chart

DOT 2-week chart is bullish.

DOT 2-Week Chart

Cardano 2-week chart is bullish & looks to have put in a higher low.

Stocks

NASDAQ futures daily chart and higher time frames are still bullish but the 12-hour chart has another pending sell signal, price is breaking below the upward trendline drawn from October 2023.

  • Bearish divergence

  • Price had a nice long 4 month run

  • Price was overbought

  • Corrections are healthy

Will some of these target boxes get hit?

12-hour Chart

US Dollar remains bullish on the weekly chart.

DXY Weekly Chart

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Disclaimer

The contents of this newsletter are expressed in my opinion only, none of which is financial advice. Always do your own research as this information is intended for educational purposes only.

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