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The last few months have been really profitable... I've only worked a few positions in the previous month. Consistency is key in trading! Quality and low volume.
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Market Update Bitcoin is currently in the midst of a substantial correction, down 14% from its recent all-time high. Yesterday's daily close marked a key shift, as it lost the Daily EMA25 for the first time since October. The price is now approaching a critical point at the 4-hour EMA200, currently at $96.2k, which could signal further downward movement if breached. If Bitcoin fails to hold the $94k level (previous week's low), the next likely support zone is between $92k and $90k, where the wick from December 5th was formed. Traders are keeping a close eye on these levels to determine whether the price will stabilize or continue to trend lower.
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#Market_Update The Bitcoin market saw a continued sell-off yesterday, pushing the price below the $100k threshold overnight. The $99.6k level, which represents the high from the previous month, is currently acting as support on the 4-hour chart. It's important for this level to hold in order for a potential recovery. The price has moved outside of Monday's range, so weâre watching for a reclaim of the $101.2k mark (Mondayâs low), which could set up a move back towards $105k. Looking at the daily timeframe, the $98.8k level is a key support area, corresponding to the daily EMA25. This has been an important level of support since the strong uptrend in early November, and maintaining this level is crucial for the continuation of the bullish trend.
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#FOMC: Start soon
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Market Update: Bitcoin experienced a slight rejection overnight after hitting a new all-time high of $108k. The $103k level, which was the low on Monday, has acted as a solid support and has triggered a bounce. The demand zone highlighted yesterday (green box) is holding up well so far. This is a critical level to watch closely, particularly for each 4-hour close. With the FOMC meeting scheduled for tonight, we could see some increased volatility, so itâs best to hold off on making any rushed decisions for now.
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