Agreed big bearish daily candle took us through the support that was holding it up, down to 30k next i think
Low resistance down to that level too you have to say.
Good morning all, today we are looking at Bitcoin again. We have had one successful trader of late and also one that has hit our SL. Previously on the bearish run down we had a nice sell position which we did well from. But where we find price sitting currently I am not inclined to sell at the moment. If price can hold this level of 30K then I am happy to try a buy. As we can see from the past this demand level has been the source of all time highâs. So a rebound in trend is of good probability. Even if we didnât go on to make a new ATH we could certainly get a good trade out of it. If we manage to break this level then it looks like we will certainly be visiting the 20K zone. One thing for sure though is that we are being presented the opportunity to buy BTC at cheap prices, either HODL or leveraged positionâs, buying at the bottom is what we want. Letâs watch for a few days to see if we find demand here before we take a buy, but be ready. GLIYF
The daily chart shows that Bitcoin made a bearish breakout at 30K. The Bear may dominate in the pair as long as the price stays below 30K. As things stand in the daily chart, the Bull may not come into play in Bitcoin soon.
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20k is possible but I believe we will see a huge bull run after the bottom is found, negating all previous ath
Yeah I think 20k is the obvious place but honestly I see something around $12k Iâd love to see it hit. If it does it will go mad from there.
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I agree, thereâs a nice institutional area right there. Its going that way for sure
Good morning all. Lets talk about Bitcoin! As we are all aware this week has been crazy for crypto. We have seen the demise of LUNA wiping out many peoples portfolioâs and crashing and burning. Bitcoin also dropped quickly during this time. But as we can see from the charts we can clearly see big buying pressure coming into play. The way we look at institutional buying areaâs on Forex compared to Crypto should be different in my eyes. Its all about price, itâs got to be hasnât it? If the big boys are at play why would they drop price right down to the low levels of 10/20K. All that does is presenting a lot more every day Joeâs to buy full Bitcoinâs and giving everyone a lot easier chance to make huge returns. Arenât they trying to do the opposite? I am not sure i am only speculating, as thatâs what we all only do anyway.
I can see if we break this area then it does look likely we will visit 20K zone. But currently i see it holding. We did trade at lower prices at 25K . But we had huge rejection. was that your chance at buying in the 20k zones. This level looks to be holding at the moment, and if the weekly and monthly candle wick out then it could turn. Let me know your thoughts below, is it time to stick a buy in? GLIYF
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I fancy the long if I get some nice pice action to form a HH on the 4 hrr
I still donât think that was the chance at buying in the 20s. More a retracement before the next leg down.
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The level 28K seems to be a good one, which ends up holding the price of Bitcoin. The price had a bounce at this level. If the price bounces at this level again and makes a breakout at the last swing high, then it would be considered as a Double Bottom. It may push the price towards the North with good momentum.
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I can see it going lower to 21k at least. There is lots of liquidity sitting there
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Agreed. I can see between 19 and 21k usd as a good place to get some longs in. Wherever it goes down to though, historically speaking weve allways seen a v shaped recovery from whats allways been the following cycles low in hindsight. Hopefully self fulfilling prophecies arenât a thing of the past.
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Canât see any significant price recovery until 2024. Maybe a few bounces / bull traps along the way. I will be favoring shorting those for the next while
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4hour chart looks like a bearish wedge to me, time to wait it out
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Weâre heading for 25k then another block of consolidation before the real panic selloff kicks in !!
Potentially and yes technically I would agree although this is bitcoin and anything could happen. Long-term I would still say bullish overall
The level of 28K has been working as a level of support for Bitcoin. The price had a bounce at the level already. If it bounces again and makes a bullish breakout at 31K, it may get bullish.
I know Bitcoin is a different animal altogether, but how often do you see a chart do this below?
Itâs a bearish chart, but like I say, Bitcoin is unpredictable at the best of times
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To be fair there is massive imbalances above and it has to come up to balance them sell orders. Could be very nice