Good morning all, another update today on the Bitcoin buy taken. We have peaked at just over 1:3 R:R. Currently price sits at 1:2. As always it is advised to lock in some profits so I have moved my SL to 1:1under the last swing low and half my position was closed at 1:2, as I missed the peak. But you cant go wrong taking profits, now we just get to watch in stress free anticipation, and hope the bull trend continues to full TP projection. Hope everyone has a good week coming. GLIYF
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just a pullback and re-test i think before continuing long
A couple of big tests coming up for the crypto market…
Rate hikes on 27th July will be interesting and FOMC minutes meeting on 17th Aug. Mark those in your diaries.
As I mentioned, that the up trending trend line pushed the price towards the North. The price breached the level and it has been bearish since then. We may see some good bearish move in the H4 chart.
Good morning all, thought I would do an update today after the fed rate hike news came out yesterday. We all knew it was coming, and it seems the market did too. Looks like it has already been priced in as normal movement resumes. We are by no means bullish , but some bullish structure is forming, higher highs and higher lows on the daily here. We just hope it is the actual bottom here and we keep moving upwards, even if slowly. SL was set at just the right level under last higher low, the trade continues and looking for that next higher high now. GLIYF
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A beautiful close yesterday for an entry
I think how it reacts if the US confirm recession today will be interesting.
Because of the uncertainty, it gets tough to know what the right move can be next. Rather, be updated and understand the patterns in market shifts.
And the reaction was very positive indeed.
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Indeed, I don’t think many expected that positive reaction to recession news. It will be interesting to see if this is a sustained move or knee-jerk reaction to the technical recession outlook.
Well, recession is not a news already so such news could do less impact already.
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Agree, will have to just trade what we see objectively for the moment
The level of 18650K seems to be working as a level of support. The price bounced there twice. It has been heading towards the North. However, a down trending trend line may still work as a level of resistance where the buyers may take their profit out.
Support levels are there to be broken. Think like someone who’d want to take out your stops. Where would you place them?
Bitcoin has been having a bearish correction in the H4 chart. The buyers may wait for the price to produce a strong bullish reversal candle to go long again.
Retail buyers will. Whales buy on the way down. which is why I think we are heading lower yet. Price is already in a premium when retail start waiting for “confirmation” candles.
Still stuck in that tight 20K ish range. Collecting order after order
Bitcoin has been having a range in the H4 chart. However, the level of 22800 seems to be working as a level of support. The buyers may push the price towards the North gradually.
Slowly on a bull run now. Think it will be gradual but definitely heading north for the time being.
Good morning all, update today is a little different. I have included what I found to be interesting with BTC and ETH. As we can see it looks like ETH is leading the way on the current price action. Price for ETH is trading above all 3 of my moving averages. Which is a good indication of a medium trend change at the least. BTC is lagging behind it so far. Could ETH start leading the way? I have seen some people say so. Something to keep a watch on for sure. Anyway onto the trade we are still in good profits and continuing bullish structure. Price has moved and tradign above my short and medium term moving averages, so we can keep holding and moving SL into profits as we go. Will update again next week GLIYF
