Good evening all. Checking back in on Bitcoin again today. The buy position is still looking well. After a few days the drop back in price does now look like it was just a pull back along the way in the bullish trend . As you can see the demand zone between 42-44k has held strong, add that to the moving average and trend line support its provided multiple confluences of support in the trend. Still over 15K pips in profit on original position. Continuing to hold u as long as the trend holds up, if it breaks will then look to close for profits. GLIYF
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Which is this indicator?
Looks to be a solid setup to go long. Are you going to take partial profit out at the last swing high? The next setup may attract more buyers if the price makes a breakout at the last swing high. Thanks for sharing.
Which one bro?
Absolutely insane
Checking in back on Bitcoin . Weirdly this trend seems fairly boring and is moving more like the forex markets. Almost text book. Currently still heavily in profits, price is even respecting more and more technical aspects, i.e EMA , Trend line .
BUT I wanted to try and add Volume into my outlook overall. Does anyone have any tips on what to look for with Volume . Would appreciate and helpful insights to add to the tool box. What I can see is volume is very low compared to the past, and were still high in price so that’s surely a good thing right? Let me know below. Keep holding the buys for now
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Can’t help on the Volume question, but I use the 200 EMA on Bitcoin and has proven very consitent. I hear a lot of traders talking about Bitcoin now being more and more tradeable with technicals like Forex and things like its adoption as the legal tender on El Salvador suggest it will only conitune.
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Good evening, update on our Bitcoin buy trade. I have closed my trading position on yesterdays candle close. Closed the remaining of my position at 10.5K pips. With the drop through trend and price making a lower low it was certainly time to close the position and take profits. But this drop I price also provides us opportunity to buy actual BTC for cheaper, just a small batch to dollar average in. which I got with some of the profits taken from the trade. Great way to accumulate BTC . If you was following I suggest you do the same, I will look for the next trading opportunity and update again in a few days.
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Michael Saylor is the co-founder and leader of Microstrategy. A huge BTC investor and bull
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Saylor is a fool of the highest order - the guy just oozes a sense of self importance.
Anyone who turns a solid software company into a leveraged Bitcoin hedge fund needs his head examining.
Poor Microstrategy shareholders - that’s all I can say.
Really like that you have a set of rules and confluences to exit. So many dont. Its so key to be objective and listen to what the market is telling you
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Still a nice profit there pal
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Think il wait for a reaction at your lower DZ .
Overall your well up .
DCA is the way to go
What’s next for Bitcoin? I have been watching it for a few days and price looks to be in a uniform bear trend start. WE have made 2x lower low’s and a lower high. Are we about to make a second lower high in what could be a short to medium bearish trend? Certainly looks possible with price looking to reject the moving average. We could take a sell here if resistance forms. target would be the demand zone below at a 1:5 R:R. Wait for the signs on the lower time frames before entering. GLIYF
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Your technical outlook is spot-on but I feel it’s always dangerous to short btc
Agreed mate
Yea ridiculously so
Best to wait and buy back in at the bottom…
Your TP level would be a lovely place for price to bounce back up from.
Would certainly take a few stop losses and shake a few traders out.
The level of 40K seems to be holding the price again. It may end up producing a Double Bottom as well. If the price goes above 45K, the buyers may push it towards 50 K in a hurry. Let us wait and watch what happens.