Good morning all, little update today on the Bitcoin trade I took. I have mostly covered Bitcoin on my weekly video’s on YouTube so if you watched that then you would know what I was looking for. I closed my previous buy for small profit as mentioned with the fear of falling further lower. But as we cans see the demand zone we previously bought from held quite well and we got the visit in price to buy from. We got a drop back in price and it rejected from the demand zone again and closed above, so that was my signal to buy.
For the moment it looks like were in a little range here so we still need to see a break above to continue the bullish movement, but at least we bought from the bottom which is where we need to be placed. Currently 5700 pips in profit which is over 1:1. So again we can move our Sl to entry price if you wish to do so. keep watching for now will update again next week. GLIYF
Bitcoin may make some bearish corrections. However, it may head towards the North as you have suggested. The level of 50K is crucial. A breakout above may make the pair remain extremely bullish for some months. On the other hand, if the level works as a level of resistance, it may remain choppy in the major charts.
Not going higher but forming HL. The issue is that both are liquidity targets to me so it has much chance of going higher or lower at the moment. As such I’m sat on the sidelines waiting for now. Nothing high probability until those equal highs are cleared and then another HL is formed in terms of being bullish.
Bitcoin may remain bearish for a while. The area you have marked may work as a support level and push the price towards the North. I am eying to go long from that zone as well. Thanks for sharing the chart.
Good morning all, there hasn’t been much to report on Bitcoin of late. Due to price being very idle and moving in this small range. Are we on the verge of a breakout? It certainly looks like we could be. Price is getting squeezed here, what I like most about this price action is that it is making higher lows even in the range. Is this the bottom? Have you bought in? Let me know your view’s on Bitcoin and the next direction of at least a medium term trend. I have bought and will hold unless we see more bearish action. GLIYF
The price had several bounces at the trendline’s support. A breakout at the down trending trendline’s resistance may attract more buyers to go long in Bitcoin. I am eyeing to go long in Bitcoin as well.
