Looks like it may have found support. Quite a bit of volume last 48 hours or so probably shook out a lot of weak hands. Though next support is ways down there so this level needs to hold :-
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
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 thing right? Let me know below. Keep holding the buys for now
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.
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
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
Good morning all, the weekend is a great time to analyze what's going on with Bitcoin . We was previously in a sell from the retest and the moving average resistance point. As advised last time the stop loss was set to entry so it was a risk free trade, and this proves why we do this when trading BTC . Price looked to be making a bearish flag to continue but Bitcoin had other idea's and as we can see price has pushed right through our entry. One good thing was that I was able to buy some BTC to hold at a cheaper price dollar averaging down. I will watch it over the next few days and send out my next idea for a trade. GLIYF
Good morning all. Well take a look at Bitcoin . Is it back to being a Bull? It certainly looks to be the case. If you held from the original entry then congrats you will be deep in profits still. Price has broken back above the trend line , lets see if it manages to hold above. If it doesn't then I would like to buy back in from that fresh demand zone created below. At the current zone there's no nice place for us to buy back in at, unless another demand zone is created, which could happen with the current daily candle. So that may present an opportunity, we could enter a breakout of the high to the left. Watch for now and be ready GLIYF
Good evening all, checking in on our Bitcoin trade. Price has continued nicely in the bull run. In the latest position I bought in we are currently 3.1K pips in profit. not bad for a stacked position. If you continued to hold from the original buy position I posted a short while back you would be 23.4K pips in profit. Which is an INSANE amount of pips. Congrats if you held that one. We are only just over 9K off the ATH, so I think this could be the run to make a new one so keep holding for now. Lock it into small profits if you wish to make it risk free. GLIYF