I can see another ATH before the end of the year with a continued bullish bias still in play.
Good morning all, I have taken profits on my Bitcoin longs as per the last update. So I am looking at the next buy in place. The demand zone at 61K would be the first place to look to buy in from. The second one at 55K level. We have nothing to aim for as we are at the ATH level so even buying in around this area could potentially easily hit our SL, so first target would be the 70K price which gives us a good R:R of 1:4. Wait for support to form before entering. GLIYF
Bitcoin is currently Skewed Bullish throughout every time frame; it looks like people who have predicted $100k must be sitting fingers crossed.
MAs a are good indicator but have in mind that they
re lagging indicator.
Quite an important moment for bitcoin today. 13 years exactly from it white paper release… and we are about to experience our highest monthly close candle in its history. Could lead to a little more faith from those doubting bitcoins overall strength. I agree emas are a good indicator when used with certain things in mind. Especially in times of uncertainty… people will go back to basics and revert price to the 50hour, 200 hour etc theres even the good old simple strategy of focusing on the 5 and 13 and crossovers and using closes above and below to decide action. In hindsight a moving average allways gives an accurate signal when taking crossovers points but their still blind to the bigger picture so more usefull intraday or with a scalping approach. They do provide important pieces of data too when it comes to bitcoins health in general
It would be a great entry to go long from 53 area. However, I assume it may not come down to 53. The price may make a bullish reversal at 60K and head towards the North. Thanks for sharing your analysis.
I do feel it will be more like a forex pair going forward as there is so much institutional money so it will always retrace and impulse up and down. There are lots more leverage trading it too now so movement is definitely going to be be more structured
Set-up 1 is looking nice, just need the break to reach the overall TP, very key level.
Good morning all, just thought I would share the latest Bitcoin all time high price incase anyone has managed to miss it. I closed my last positions in profit and was looking to buy back in on the pullback. I drew out the incorrect demand zone and missed the opportunity on that little pullback. But as we can see price has closed above the previous month’s ATH and we are currently trading at $67.7K. If you caught that pullback well done. But where to from here. Will we see a big surge now up to 70/80K? Or will we see 100K? Let me know your thoughts below, ill be buying any big pullbacks in price if we get them. GLIYF
It is almost at 70k already and we may see it hit that level within the next few days, I think.
80K is very much on the card. I assume this bullish move may continue and it may make a pullback later. The level of 67K may work as the next support. Thanks for sharing your analysis.
I think so too, I think the question is, mainly, whether it will happen this year or next year.
Sure does look strong at the moment. Just need Elon to keep quiet for the next few weeks…
Looking like an ATH soon. Mirroring last year’s run. Wonder where we’ll be come the start of 2022!
One cannot really count on Elon Musk to be quiet, the man has long proven that.
Good morning all, another look at Bitcoin today, I think this week or next we will see the push through 70K at least. The bullish nature of BTC is still clear to see. We have a primary trend and multiple secondary trend lines . Which give it more chances of staying bullish should the first break. If you were still holding that first buy we took back in June you would of peaked at over 1:9 R:R - 40 ,000 pips profit. 100% on a physical buy and hold too. But where will the top be? Interested to know your out look for the next few months and when the next dip back will be. GLIYF
I assume it may hit 80K from here. The trendline has been working as a support and it has produced a bullish engulfing candle. It may attract the buyers to push the price towards the last swing high and end up making a breakout there. If the last swing high works as a level of support, the buyers may get a good opportunity to go long in Bitcoin.
40,000 pips sounds crazy! 100k for Christmas is still a real possibility…
I think we go down some more before the big Q4/Q1 pump up. Purely a feeling. Holidays, like the US holiday next week, is a great time for the whales to sneak in a big move while everybody is eating turkey and falling asleep on the couch.
I personally feel 100k is a reality prior to Xmas with a big Selloff where everybody craps their pants slightly