Bitcoin has been bearish for some months. A down trending trend line is still in play. I assume Bitcoin may remain bearish for at least some weeks. The sellers are to be a bit careful here as well. A full length bullish correction followed by a bearish reversal pattern may produce a good bearish momentum again.
I think bitcoin has gone further then many expected. Any ideas on where the bottom will be? Seems to be a bounce up but not sure if it’s going to last. Interested in what everyone thinks.
The meltdown was caused by forced liquidations from leveraged positions. IF the large positions have been liquidated, then the bottom might be in. But it’s hard to say whether that’s the case.
Also, there are companies that have halted withdrawals (like Celsius) and if/when they allow withdrawals again, there might be a new wave of selling as their customers rush to cash out.
Lastly, the macro backdrop with rising interest rates causing high beta risk assets to be dumped in not an environment that’s supportive of bullish crypto market conditions.
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Looks like a good idea. BTC is doing a little okay now, but we can’t be too sure. It can change overnight. Maybe hold on for a little longer, see if you can make some more profit.
yeah, so its rising now but very-very slowly… I think it will do the same way for some time
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Me too especially with the summer break coming and liquidity reducing from next month. Will be interesting to see what happens come September
It still looks bearish to me. The price had a bounce at 17675.60. If it holds the price and makes a breakout at the last swing high, it may bullish for a while. Do not forget that there is a down trending trend line, which has been in action for quite a while. Unless the price makes a strong breakout at that trend line, Bitcoin may remain bearish in the major time frames.
It’s that time of the week again to go over the markets and pairs followed. Head over and give it a watch. Appreciate anyone that likes and subscribes. Hope you all have a good trading week.
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The level of 17675.00 seems to be working as a level of support in the daily chart. The price had a bounce at that level. Another bounce may attract the buyers to go long in Bitcoin.
I like the double bottom set-up here, some momentum shift this week would be lovely
This week has been bullish so far. If the candle closes as a bullish engulfing candle, we may see some buying pressure. However, there is a down trending trend line in the weekly chart. That must be breached by the Bull for the Bitcoin to get bullish. As things stand with Bitcoin, it may take time.
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Excellent, please continue to elaborate on your trading results so that I can learn more.
Catching up on all the videos now, thanks for sharing!
The level of 18K shows its potential to hold the price as a level of support. If the price bounces again at the level, the price may head towards the North. On the other hand, if the price breaches the level, Bitcoin may continue its bearish move.
Bitcoin is heading toward the North. However, I do not think it would continue its move and end up making a bullish breakout at the down trending trend line this time. It may come back again at the horizontal support before making a bullish breakout.
Good afternoon all. Just a little update today. Anyone else buy Bitcoin? I did as I said I was going to do. I know many people think we are going lower, but I think we are at the bottom. So i have to trade with my instinct don’t I? I see ETH has had a little breakout today, hopefully Bitcoin will have one also. I’m well aware we could still come back down into the demand zone again, but for now the position is in profit of 1:1 R:R. If we reach 1:2 ill close some of the position and set SL to entry. Let me know below if you followed and stuck a little buy swing on GLIYF
Looks like a massive imbalance to fill to the upside too
Bitcoin looks good for the buyers in the H4 chart. The price has been up trending by following an up trending trend line. The H4 chart shows that there is enough space for the price to travel towards the North as well.
Not 100% sure what to make of Bitcoin personally. Order flow certainly suggests a further move down. But who knows, institutions do what they want.
