What The Pump, Is Going On With Bitcoin?

October 16, 2023

Unveiling the Game Plan: How to Navigate the Bitcoin Minefield Look, if you’re diving into the world of Bitcoin, you’ve already braced yourself for a wild ride. But as exhilarating as it may be, it’s a labyrinth with pitfalls at every turn. Before you even think of wagering your hard-earned coins, let’s get one thing […]

Unveiling the Game Plan: How to Navigate the Bitcoin Minefield

Look, if you're diving into the world of Bitcoin, you've already braced yourself for a wild ride. But as exhilarating as it may be, it's a labyrinth with pitfalls at every turn. Before you even think of wagering your hard-earned coins, let's get one thing straight: you need a game plan, and a solid one at that. In this blog post, we're dissecting the latest market data, evaluating the siren calls of indicators, and scrutinizing every trading strategy that comes our way. Fasten your seatbelts; we're about to venture deep into Bitcoin territory. From pump fakes to swing trades and algorithmic strategies, we'll cut through the noise to serve you the unvarnished truth. Keep reading; you can thank us later.

Dollar DXY


Support/Resistance Levels

Your blue and purple lines suggest psychological battle zones. The recent monthly high at 108.740 and low at 106.176 are not just numbers; they're investor sentiment encased in candlesticks.

Moving Averages

The DXY chilling between the 25-day and 50-day MA is no summer vacay. It's a tightrope walk above the bullish safety nets of 100-day and 200-day MAs. The price above these longer-term averages screams bullish, but don't pop the champagne yet.

Recent Price Action

That recent ‘Buy' signal isn't a green light; it's a dare. Given the preceding ‘Sell' signal, this is more of a testing-the-waters scenario. It's like when your ex texts you “Hey” at 2 AM; proceed with caution.



Being below the 9-day EMA isn't just slightly bearish; it's a red flag in a bull party.


At 62.79, it's like a car on the freeway—fast but not speeding. Room to accelerate without police lights (overbought levels) in your rearview mirror.


Upward? Buckle up. Volatility isn't a toy; it's a double-edged sword.

Squeeze Index

The yellow line is below zero, signaling bearish sentiment, like a cat ready to pounce.


Look, the numbers whisper bullish, but they also hum a cautionary tale. This isn't a one-way street; there's a crossroad up ahead, signaled by the bearish MACD and Squeeze Index.

Trade Strategies

Bullish Strategy

If the DXY flexes above the 50-day MA, go long. Your prize is that 108.740 level. Use a stop-loss at the recent swing low or 100-day MA, and for God's sake, don't wing it.

Bearish Strategy

If DXY takes a nosedive below the 50-day MA, go short, aiming for the 100-day MA cushion. Put a stop-loss higher than the recent swing or the 25-day MA, unless you enjoy financial cliff-diving.


DXY is giving mixed signals; it's like a Tinder date with unclear intentions. For the bulls, aim for 108.740 with a safety net below the 100-day MA. Bears, wait for a plunge below the 50-day MA, and target the 100-day MA. Keep your eyes peeled for real-time indicators and world events that could crash this party.


Volume Profile Visible Range (VPVR)

The battleground is clear: $26,500 to $28,000 is where traders are duking it out. This VPVR dense area isn't just a pretty chart pattern; it's a moat of liquidity, fortifying these price levels as critical support and resistance.

Moving Averages

Bitcoin's riding above the 4MA, 9MA, and 20MA like it's cruising down the highway. Don't just ogle; note that these MAs can act as trampolines for future rebounds.


The MACD line is playing hard to get under the red signal line. But hey, the histogram is flirting upwards, signaling that a bullish crossover might just slide into the DMs soon.

Willy21MA13 Oscillator

Deep in the oversold territory? That's not weakness; that's pent-up energy. When Willy21MA13 gets this low, expect a comeback tour.


Sitting at 62.86, it's bullish but not thirsty. Plenty of room before it hits the overbought “I'm too popular” mark of 70.

Squeeze Index

Nearing zero? Translation: Strap in; we might be in for a market roller coaster soon.

Recent Price Action

Bitcoin just flashed a ‘Buy' signal and is poking at the $28,215 resistance like it's testing ice thickness. Be prepared for either a breakthrough or a crack.


Listen, the DXY's vibe is cautiously bullish. Mix that cocktail with Bitcoin's positioning, and we've got a volatility brew simmering. The sentiment leans bullish, especially if BTC kicks down the $28,215 door.

Potential Trade Strategies

Bullish Scenario

If BTC bounces above $28,215 and decides to stay awhile, consider going long. Target? Your next VPVR fortress or previous highs. Slap a stop-loss beneath the recent swing low or 4MA unless you fancy tightrope walking without a net.

Bearish Scenario

If BTC throws shade at $28,215 with bearish candlestick patterns, you might want to short to $26,500. Place a stop-loss above the recent high or 20MA. It's not pessimism; it's hedging your bets.

TLDR Bullet Points

  • BTC is moonwalking above crucial MAs, signaling bullish momentum.
  • MACD playing coy but hints at bullish crossover vibes.
  • RSI is in the groove but hasn't peaked.
  • Cautiously bullish sentiment, stirred not shaken, with DXY and BTC data.
  • Long if BTC conquers $28,215; short if it gets cold feet.

ToxicLabs Member Content (Beta)

Right Now: The BTC Pump Fake Dilemma

You see, Bitcoin flashing a ‘Buy' signal is like a siren's song—luring but potentially treacherous. There's no guarantee that this ‘Buy' is the starting gun for a long bull run; it could very well be a pump fake. We've seen it before: BTC winks a ‘Buy' signal, folks go long, and BAM! It reverses faster than you can say “liquidated.” Especially with the MACD being shy of a bullish crossover, and a looming major dip, it's like buying a ticket to a theme park that's under construction. You don't wanna be the sucker standing in line for a ride that's not open yet.

Trading Bots & The Art of Charting

Setting up trading bots isn't just a plug-and-play game; it's like gearing up for a space mission. Your bots are only as good as the parameters they're given. Before we unleash our automated trading soldiers, more charting is essential to find that ‘Goldilocks Zone' of entry points. Not too high to get stuck in a drawdown, and not too low to miss the rally. It's all about fine-tuning the algorithm to react to real-time data efficiently. Let the bots chill until the coast is genuinely clear.

ToxicHustle Labs: The New Course in the Pipeline

Now, let me dish out a little insider info. We're brewing a new course for our ToxicHustle Labs Member Area. This ain't your run-of-the-mill, cookie-cutter trading education. We're talking unfiltered, myth-busting, and straight-to-the-point modules that will give you an edge sharper than a Ginsu knife. You're going to want to be first in line for this course; it'll be like getting your hands on trading's version of the Philosopher's Stone.

Major November Dip: The Swing Trade Strategy

Caution flags are up! We've got intel suggesting a major Bitcoin dip coming in November. Swing trading is the name of the game here. It's all about playing those peaks and troughs. Why lock yourself in a long-term commitment when you know the ground's about to shake? If you can pinpoint a better buy-in point—likely after some meticulous charting—a swing trade could serve as a parachute, letting you float down gently rather than free-falling when that November dip hits.

To sum it up, this ain't the time to go all-in, folks. Keep your powder dry, refine those strategies, stay educated, and as always, trade smart.

Take Action!


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