Bitcoin Reloading?

bax699

Well-known member
404 81
Good morning all, hope your trading week has gone well. Just updating quickly today on the Bitcoin buy position I took. Price is currently hovering above my entry area. Is the current price action another signal to buy with the break and retest? Only time will tell. One thing we can see is that the current demand zone has been tested multiple times and held strong. I'm holding strong on my thoughts we have seen the bottom. Hold for now if you took it. GLIYF
Screenshot_1.png
 

bax699

Well-known member
404 81
Well it certainly looks like Bitcoin is moving in a boring sideways movement. For what looks to be the ''bottom'' of the current bearish price action, the movement we have seen of late has been very boring. In comparison to the previously very strong movements we have seen. If you were a day trader scalping in and out then its certainly possible to scalp Bitcoin up and down in this range. But I do feel that we are not too far away from a strong impulsive breakout, hopefully that's in our desired bullish direction. Let me know your thoughts below. GLIYF
Screenshot_1.png
 

bax699

Well-known member
404 81
Good morning all. Checking back in on Bitcoin today. Feels really strange reporting that there has been literally zero movement compared to what's happened to the left on the chart. It is literally a sideways market. I still believe in my setup and that we are at the current bottom of the market. Will we see a breakout in price soon, time will tell. Let me know your thoughts below. GLIYF

Screenshot_1.png
 
  • Like
Reactions: IceThor

trader1376

Newbie
2 0
Hi everyone, Let's look at a weekly chart, what's it's story?

In the chart below we have an upthrust Apr. 12th. and retest May 10. A nice example of Wyckoff utad (upthrust after distribution). Price action after the retest gave us a sign of weakness. To me, May 24th. to present, looks like re-distribution. Please notice price rejection off the median line. The question today... is distribution over w/markdown to follow ?

TWT
 

Attachments

  • !cid_5092a22b-6ca7-4093-bbf3-78e03e153a51.png
    !cid_5092a22b-6ca7-4093-bbf3-78e03e153a51.png
    193.2 KB · Views: 11

IceThor

Member
64 11
Still stuck in a range. Will be here a while.
 

bax699

Well-known member
404 81
Good morning all. I have seen a lot of posts on social media over the past couple of days saying ''bitcoin is dead'' ''crypto is finished'' etc etc. Seems pretty strange when the price of 1 Bitcoin is $30K+ lol. It is the same price it was in January. But for me this demand zone we currently sit at really seems to be decisive in trend direction. As you can see it is hard to argue we are at the current bottom of the trend, about to meet the up trend line , so personally things may be looking up from my perspective. Still on the buy from here at this zone. GLIYF
Screenshot_1.png
 
  • Like
Reactions: IceThor

IceThor

Member
64 11
Good morning all. I have seen a lot of posts on social media over the past couple of days saying ''bitcoin is dead'' ''crypto is finished'' etc etc. Seems pretty strange when the price of 1 Bitcoin is $30K+ lol. It is the same price it was in January. But for me this demand zone we currently sit at really seems to be decisive in trend direction. As you can see it is hard to argue we are at the current bottom of the trend, about to meet the up trend line , so personally things may be looking up from my perspective. Still on the buy from here at this zone. GLIYF View attachment 303234
Still stuck in a range. I don't see it coming out any time soon.
 

bax699

Well-known member
404 81
What a difference a day makes!! Two bearish daily candles and now today Bitcoin has broken below the 30K barrier. I see panic posts everywhere. Is it time to panic? Seems that way as the trend line has been broken. Im on full alert I could be stopped out any second but that's ok as I set my % risk to lose. But i still have faith UNTIL that big demand zone gets broken. Defo one to watch over the next couple of days, could get interesting. GLIYF
Screenshot_1.png
 

bax699

Well-known member
404 81
Well well well, what do we have here. Is this Bitcoin turning bearish? We have certainly seen some nice bullish candles recently, today especially. Price has broken out of that falling wedge we have been in for a while. For once this buy position I have been in, is in profits. I will be moving my stop loss into profits to make sure I secure some profit. If we can get to 41K then it looks like the bull could continue. just need a higher low next then another push north. I believed it was the bottom and it looks like it may just be. Hope some of you following took the trades also. GLIYF
Screenshot_1.png
 
  • Like
Reactions: IceThor

bax699

Well-known member
404 81
Good evening all, keeping an eye on Bitcoin more these days. We are currently on the 8th consecutive green candle. Haven't had that in a long time. You can see my idea's of what I would like to see happen with BTC to keep continuing on this bull run. Need to break above this small daily supply zone for me to be convinced. But none the less we need to make a higher low along the way to confirm trend change so don't be put off by a bearish candle. Keep holding for now, GLIYF
Screenshot_1.png
 
  • Like
Reactions: IceThor

bax699

Well-known member
404 81
Is this the start of the next bull push, the 30k demand zone held up pretty well after being tested multiple times. I have been holding a buy and currently sit in nice profits. Significantly we broke above the last lower high that was made on the move down. Price peaked at 42.5K and currently we look to be testing the 40K price point as support. If price holds here it looks good to move further north. 50K is my next target if we can gather support here. Make your position risk free and hold for now. GLIYF
Screenshot_1.png
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock