Good afternoon all. Keeping a close eye on Bitcoin lately and this very strong demand zone we have bounced from multiple times over the past few weeks. I have entered a buy on the bullish candle close from the rejection of the demand area. Technically we broke the zone with price ever so slightly breaking below. But we saw what we have previously with the bulls fighting back and making price reject the 30k support area . So for me its enough to enter a buy position on the prospect of a good return if the big bull comes alive again. 2% risked on this position, I will move my stop loss into break even if we beak above 36.2K. Fairly easy trade to take this one guys GLIYF
Hope everyone's having a good weekend. The crypto markets never close and this weekend I thought my SL was going to be hit. But yet again this demand zone is holding strong. I would like price to break through this secondary trend line now to be confident in a move upwards. Again I say my opinion is this is the bottom. I could be wrong but if I am correct then we get rewarded. even if we drop through we just get to buy at cheaper prices. Let me know your thoughts below. GLIYF
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
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
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
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
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
Discount Tuesday, similar to Amazon Prime day. Although turning back on the Tether printer wouldn't hurt.