Well Bitcoin has almost gone exactly to plan so far. i was looking for the push up to the supply zone and then a drop back down to support in my circled area, and we pretty much got what i was looking for. Priced wicked out from the bottom showing good buying pressure, we held on trend and are still bullish in trend, creating higher lows and higher highs. We just need to break above 10.5K and stay there. thats what im looking for
One thing i like about bitcoin is that it respects certain levels and indicators very well. We are still bullish and getting ready for the next pop up in price i believe. you can see when you look close it loves to respect fib levels, EMA’s trends and price patterns. Most recently it rejected right from the trend and .236 fib level for a multiple confluence bullish signal, price held above the 100EMA perfectly then we got a nice bullish engulfing . The pullbacks are small but the bullish gains are quick to strike back. I believe its only a matter of time before were trading above 10.5K
Looks like we’re in a sideways movement with Bitcoin at the moment, small range. i think it could possibly move towards the trend and pick up multiple confluences before we get the next push upwards. Ive marked out a couple of areas that i will be interested in placing longs. GLIYF
If you saw my chart yesterday i blatantly pointed out the buy spots. It couldnt of been any easier for you to jump on that buy. price came right down to the trend line and 100EMA. Rejected right off it like expected, 400 pip rise if you was an intra day trainer. Love it when it respects these levels and confluences. Hold if your a HODLER or take the nice profits and but again on the next pullback, or wait for the breakout up top and retest. Plenty of opportunities with bitcoin . GLIYF
Well BTC has shown us its first weakness in recent times. Price has broken down and below the trend. Price currently sits between 100+200 ema , price action is showing us a bearish pennant , so bias would be for a sell for the intra day traders. The question is where will we find support for the next push up? We could reject from the 9100 area like previous and get a big double bottom , or even further below to the support of 8700. One to watch next few days GLIYF
We were looking for the intraday sell last time we looked at BTC . After the initial drop we were looking to sell the bearish pennant . It offered a few hundred pips on the initial drop , but as we can see price rejected right off that little support zone and wicked right out. That was your signal to take profit especially when we got the wicked hammer candle and the doji right after it on the .236 fib level of support. That was your new reversal signal to go long again. We made it back above the EMA’s where price currently sits. Im currently long from 9100 on an intraday position. Already made risk free with SL so will ride this one out. Looking to break to new highs in the coming days as USD seems to be getting weaker overall. GLIYF
Still holding longs on BTC . The chart im seeing is pointing to a move upwards. We’ve got what looks to be an inverted H+S , it might be a messy one but the general shape is there and we have our neckline. We’ve made a higher high and higher low. So now we just wait for the neckline to be broken upwards. the 200 EMA is holding price up well so far so only a matter of time. GLIYF
10K is a huge psychological BRN that the Nasdaq is facing now. I know BTC breached that a couple of years ago, but has not breached it since. Look for the momo to carry it up, else it is going to keep bouncing off that res.
Good morning, new week upon us traders. Bitcoin to me looks like its coming to decision time in technical terms. Price has moved sideways and now were getting squeezed into this wedge . The .236 fib looks like its holding but price is sitting under the EMA's so it can go either way for me. which direction will win. All i know is i will be trading the winning breaking direction of this wedge . I still hold longs but its set to risk free so i dont lose if it drops. GLIYF