Bitcoin Reloading?

bax699

Well-known member
448 83
Good morning, checking back in on the Bitcoin buy we took today. I believed 30K to be the bottom, so I traded it. We should have no reason to be afraid to trade what we believe in. Even if we get it wrong its ok that's why we use risk management. But when we get it right like this Bitcoin trade we get rewarded. It look's like the Bull has returned. We have made our higher high and we have also made our higher low. A fresh daily demand zone has been created and look's like we are moving up. Currently in nice profits so if we break above this supply zone bring Stop loss up to the higher low to secure the bag. If anyone missed you could even buy in if we revisit that new demand zone if you see support forking there, but lets Hold for now GLIYF
Screenshot_1.png
 

bax699

Well-known member
448 83
Another little update today on Bitcoin . Price Is moving sharply now in a bullish bias. Little demand zones being created along the way breaking the previous supply zones. This current zone could be a good place to buy if you missed the trade. Already hit over 1:3 R:R on original entry and now running risk free with SL in profits. Looks like we might get a good finish to the year if the bull run continues. Let me know below if your trading or buying bitcoin . GLIYF

Screenshot_1.png
 

bax699

Well-known member
448 83
Good evening all, checking back in on Bitcoin today. Very happy to see the bull trend is continuing. This just goes to show if you trade your idea's and use risk management its very easy to catch these types of moves. At my entry I was in small DD for a couple of weeks as support was collected, but no been sitting in profit for multiple weeks and can mange the profit as it continues higher. My stop loss is locked in at 40K on my trade. Currently price is at 1:4 R:R with a 16000+ pips profit. Even the second stacked entry that I gave out is nicely in profits currently at over 1:2 R:R. Let me know if you got on these below. Keep holding and move up stop loss to secure profits. GLIYF
Screenshot_1.png
 

Smith2525

Junior member
18 0
Looks like a nice trade you got going on here. I took profit at $49,500 as I feel this $50k could be a tough one to break through.
 

bax699

Well-known member
448 83
Good evening all. Having a look back at Bitcoin today. We are still in good profits on our position, still in profits on the stacked position level. We have seen price touch supply and now it looks like we are accumulating positions in a bullish flag . Making higher highs and higher lows so the textbook bullish trend is continuing. Id like to see price break out the flag and above the supply for our move to continue. keep holding for now and keep watching for any signs of possible bearish moves so we can protect our profits. GLIYF
Screenshot_1.png
 

bax699

Well-known member
448 83
Good morning all, checking back in on our Bitcoin buy's. Nice to see all is going well, from the first position I bought in at we're currently 18K pips in profit. The bull run has continued to progress and the second stacked buy position I gave out is currently 6.4k pips in profit. All well above good R:R ratio's. So your free to close partial profits or lock in profits with a SL. Price has now broken above the 50k barrier, so all is looking well to continue. There could be a possible 3rd area here to stack again. But as I have two I wont be entering again. No need for greed. But if you missed out on any previous then go right ahead. Keep holding and ill update again soon. GLIYF
Screenshot_1.png
 

bax699

Well-known member
448 83
Good evening all. Looking back at Bitcoin again today, as obviously we had a very big impulsive candle to the downside. Media outlets calling it a 'crash' and half of the internet. But lets take a broader perspective, we want to know what's going on mid to long term to make good profits. Obviously the second stacked position would of got stopped out at entry if you made it risk free. If you didn't it would be slightly in profit. But this is also a good indication as to why we take profits and also secure profits along the way by moving stop loss up just incase we do get a crash.

Is that just the second major higher low in the bull run? price seems to of hit demand and respected it. Certainly looks to of found support. Only time will tell, still in good profits so keep holding for now. GLIYF
Screenshot_1.png
 

bax699

Well-known member
448 83
Good evening all. Checking back in on Bitcoin again today. The buy position is still looking well. After a few days the drop back in price does now look like it was just a pull back along the way in the bullish trend . As you can see the demand zone between 42-44k has held strong, add that to the moving average and trend line support its provided multiple confluences of support in the trend. Still over 15K pips in profit on original position. Continuing to hold u as long as the trend holds up, if it breaks will then look to close for profits. GLIYF
Screenshot_1.png
 

bax699

Well-known member
448 83
Checking in back on Bitcoin . Weirdly this trend seems fairly boring and is moving more like the forex markets. Almost text book. Currently still heavily in profits, price is even respecting more and more technical aspects, i.e EMA , Trend line .

BUT I wanted to try and add Volume into my outlook overall. Does anyone have any tips on what to look for with Volume . Would appreciate and helpful insights to add to the tool box. What I can see is volume is very low compared to the past, and were still high in price so that's surely a good
Screenshot_1.png
thing right? Let me know below. Keep holding the buys for now
 

bax699

Well-known member
448 83
Good evening, update on our Bitcoin buy trade. I have closed my trading position on yesterdays candle close. Closed the remaining of my position at 10.5K pips. With the drop through trend and price making a lower low it was certainly time to close the position and take profits. But this drop I price also provides us opportunity to buy actual BTC for cheaper, just a small batch to dollar average in. which I got with some of the profits taken from the trade. Great way to accumulate BTC . If you was following I suggest you do the same, I will look for the next trading opportunity and update again in a few days.
Screenshot_1.png
 

bax699

Well-known member
448 83
What's next for Bitcoin? I have been watching it for a few days and price looks to be in a uniform bear trend start. WE have made 2x lower low's and a lower high. Are we about to make a second lower high in what could be a short to medium bearish trend? Certainly looks possible with price looking to reject the moving average. We could take a sell here if resistance forms. target would be the demand zone below at a 1:5 R:R. Wait for the signs on the lower time frames before entering. GLIYF
Screenshot_1.png
 

bax699

Well-known member
448 83
Good morning all. Checking back in on the BTC sell I posted last time out. Did you take the sell trade? There was a perfect sell from the moving average. We did get a nice drop down in price, and now it looks like price is forming a bearish flag . If you took the trade along with me then set it to risk free with SL at BE and let it ride out. I'd like to see rejection from the top of this flag here for another drop down. If not we have a risk free trade anyway if price pushes back bullish . Keep holding 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