Good evening all. Checking back in on our Bitcoin trade. I personally think we are coming to a turning point here. We are currently in profit on our position. But it looks like price is getting squeezed into a corner. Either we will continue and break out to make a new ATH . Or we could drop below and possibly see a bigger pullback. Either way I dont mind, if we go up more pips for us, if we go down then close positions with profit and possibly wait to buy in at hopefully a cheaper price. Keep your eyes peeled on its next move. GLIYF
Well Bitcoin has shown us its possible next direction. I was stopped out at 4K pips, and that’s why we put our SL into profits when moving up with price I guess not surprisingly it looks like it could be a bear. We have now had our second lower low and a lower high created in structure. Elon Musk said he will no longer accept BTC for Tesla and Bitcoin took a nose dive. Is this just a reaction to what he said? Or are we entering a short term bear market? We have already got out demand zones marked out where to buy in next, lets just hope it drops further so we can get a good cheap price to buy in again. GLIYF
You are really good with your analysis. But sometimes, you should go with the flow. Analysing the market may show something but in reality, it can be something else. If you want to invest in bitcoin, go ahead. You can never go wrong with this investment.
I know bitcoin has been a safe investment for a long time now but what makes you so sure that it can’t break down?
Well it looks as though Bitcoin has turned bearish . We have broke structure on the Daily time frame creating our second lower low and we also have our lower high. But where will it find its support? Obviously the cheaper the better for us, but can we trust it to pump so high again? Ive marked out the levels that I would be interested in buying from. I would need to see a daily doji candle on one of these levels before I would take a buy. But the good thing with crypto is we can also hold physical in these low areas as well as trading. I will be stacking at each level we hit going down. Let me know your thoughts below. GLIYF
Great analysis as always.
Who’s selling Bitcoin? Clearly looks like a bearish market as stated previously. So let’s take a sell if it presents itself. I have marked out the area just under 50K where I would like to see price make another lower high in this bearish movement. If we get one then see resistance then I will jump on the sell. That’s what trading is about making money up and down. Mark your area’s out and get ready to take the trade. GLIYF
And now bitcoin’s slipped to almost 38k, where is Elon Musk now lol I see the crash happening even sooner than expected!
By the looks of it Bitcoin may drop below 30k soon too.
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Good evening all, hope everyone had a good weekend. Forex markets open later but the Crypto never stops. Is it time to buy Bitcoin yet? Well this is now in my first real area of interest. To the left is a very strong weekly demand zone where we had a double bottom and then the rise. In the recent flash crash on 19th May we saw price move down very quickly only to wick out from the 30K demand area, which shows it to be a strong area, For which we are now around. I will most likely place a buy here for 2% account risk just to test the water incase we do find some good support. If its not the case then the next zone below I would like to buy from. GLIYF
Would be surprised to see $16k, but this is Bitcoin, anything is possible!
Good morning all, back to Bitcoin today and I think we have our temporary bottom here. I placed buys here at this entry point, we are at a strong weekly demand zone , we look to of formed a bottom here, each daily candle closing higher than the last since the first impulsive bearish candle to wick from the demand zone . If you followed then make sure to move SL to break even when in profits as with crypto you never know if its the real bottom or not. GLIYF
Good morning all, keeping a close eye on Bitcoin lately. I took the buy from the 34.6K price level below and currently in some small profits. But which direction will we take now? From a technical stand point it looks like its forming a bearish flag here which could signal a further drop. But will it follow technical or will we see some fundamental influence that makes it turn back bullish? Certainly one to watch over the near future for sure. Let me know your thoughts on where you think its going below. GLIYF
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Nice post. thanks for sharing!
Good morning all, checking back on Bitcoin today. Few small bearish candles on the lower timeframes and its panic stations across the board. Last time out I drew what looked to be a bearish flag . Technically it was to drop further, which is what we got. But what I am taking from this bearish time in BTC is the strong weekly demand zone we cant push through. Three times now its being tested and each time its higher than the last. I am holding my buy until at least this weekly demand zone is broken. I believe this is the bottom, but I could be wrong. GLIYF
Good evening all. Been a little while since we looked at Bitcoin . Was I right in calling it the bottom last time we checked in on our buy position? Time will only tell, but it certainly is giving us some hope. We have what looks to be the low and a higher high and a higher low. I am not counting any chickens yet until we break back above the moving average s it could just as easily come back down. But all ok so far, in profits by 5892 pips the most since we bought. Fingers crossed this is the stat of the next push upwards. GLIYF
Hopefully the return of the bulls!
Looking back in on Bitcoin today. My last buy position was stopped out in profits. This is the best way to tackle the current Bitcoin chart. I see a lot of people calling it the end for crypto etc etc just because we have a small bearish run lol. Crazy talk, for me until we break this low I have marked out I am looking for buys. The first initial bear drop created the low and we still haven’t visited that price again since. I am always willing to risk 1% of my account on a stop loss here at these positions for the potential huge possible returns. Trading is only scary and risk if yo over leverage your position. Be sensible and take the positioned risk. GLIYF
And it did.
where is it now