Good afternoon all. Bitcoin , what an interesting currency it is proving to be lately. With these cheaper prices it is certainly providing the less fortunate people to buy more to HODL and make big returns, me included. We come to the zone currently trading at. WILL IT HOLD? Or are we continuing and will see 20k? If you follow my YT you’ll know I have opened a small buy position to test the water, if we break down I will close and look to re enter at the 20K zone. What’s your thoughts, will we hold here or will we tank? GLIYF
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Bitcoin did it in 2021
Depends on the equities market. If stocks continue to rally, then bitcoin should rally as well and test $35,000 area.
But that was a down move retracement of a huge upwards movement. Bitcoin has been on a downtrend for 6 months now. It could well move higher, because it’s crazy. But that’s not the sensible direction from TA.
I don’t think we have seen the last of the bears yet, but who know what the wolves have in store for us next. I will await break of structure before my next trades on BTC
The chart is forming a triangle. Of course, a bullish breakout should push the price towards the North. However, it has been bearish for a long time. Thus, the Bull may need a very strong bullish reversal pattern to make its next long move.
Definitely a wait and see one for me there is definitely liquidity to the upside so could be a very nice idea
Bitcoin produced a bullish candle in the daily chart yesterday. However, today’s intraday price action has been very bearish. If today’s candle comes out as a bearish candle, it may take time to get bullish.
These daily candles are just yo-yoing rright now. I do see some bullish divergence on the daily though so continuing to be patient and wait for market structure to fully confirm its ditrection.
Good morning all. Just a small update today on Bitcoin! There is a lot of talk going on currently about what will happen next with the price of BTC . Clearly we have been in a bear market, and the majority of people say it’s going to go down further, BUT ISN’T THAT THE OBVIOUS MOVE? To move down further would just be the obvious continuation from a bearish trend . Currently we are moving in this range between 32K + 28.5K. I have bought at this zone as I think we will get that breakout to the upside. Included is a chart for BTC with the illiquid supply and the price of BTC between halving’s, Clearly showing divergence between the two. I saw someone post it and thought I was very interesting to see, so thought i would include it in. Aren’t we supposed to do the opposite of the obvious? I’m buying and im holding it still. What’s your take on wether we are at the current bottom. GLIYF
It is still in range. The daily chart shows that the price gets caught within a triangle now. Both the sellers and buyers must wait for a breakout and find its next direction.
Am tempted to buy and hold some bitcoin this week. Hopefully will rise before long.
Good afternoon everyone hope you’re all having a good weekend. Back again today to report our position on Bitcoin has hit SL, only 0.5% loss so it’s all good. The bearish trend continues and we have broken out of this small range we have been trading in. It now look’s highly likely that we may be visiting the next demand zone down at 24K. Perfect for all of us that want to DCA into BTC . If we get a retest of this break then I may look to take a sell down to that zone below. If not then we will look to buy further down if we visit that demand zone . sit on our hands time for now. GLIYF
Looks like its trundling lower its now a little lower than your lowest point
Another significant bearish breakout in Bitcoin which suggests that it is not going to get bullish soon. 25K may work as a level of resistance and attract the sellers to go short in Bitcoin for some weeks.
Since $25,000 has been broken convincingly, a move down to $20,000 is possible since the market loves to gravitate toward these big psychological levels.
I think these “big psychological levels” have become a trap…
Seems to me 5k looks like a great entry point and will probably get hit.
The question is why would ya?
So much technical damage it could take a decade to recover
Hard to be bullish at the moment, although plenty of moon boys are calling bottom. The recession hasn’t even been officially announced yet and BTC follows the ‘risk on’ tech stocks. Next stop $18-$19 for a small bounce/bull trap.
I agree, it will be a long way to go to see something bullish… The cryptowinter is coming 