Bitcoin is currently exhibiting a bullish trend, with momentum building as it approaches the critical $51,150 resistance level. If it successfully breaks out, holding tight could lead to significant gains as bullish sentiment strengthens. š°
Patterns on the 1D timeframe for another potential leg up. Full send after a breakout but if we break the lower boundary, we could also retest $4.6 š
American authorities listed on the Coinbase exchange 30,174 BTC, which previously belonged to the darknet marketplace Silk Road, for the purpose of their further sale - Bitcoin Magazine
That's why we're growing š It took a long time to get used to it.
š¢ If the news is āBitcoin will cost $1,000,000 by 2025,ā it means we will fall soon.
š¢ If the news is related to the SEC, Silk Road, mining ecology, etc. - growth.
š°#BTC got another pullback from resistance of $71 000, we continue to move in flat, I told you about this probability of events. Local sideways 69k$-71k$, which was right under the key level, accordingly, we broke down. And again locally we still have the possibility of a bounce at the moment as we are testing the 0.618 Fibonacci level. š¬
On the higher timeframes there remains accumulation within $63k-71k, I'm expecting a test of support at 0.5 Fibonacci level and will consider a speculative long position.
As for alts - every bitcoin dump opens up an opportunity to buy assets, most are just now testing important supports.
Buyers failed to top triangle level and we went for the short scenario. Volume liquidity level $67150 took away š
Also on the CME chart we have an unclosed gap that is 95% breakable. It is in the range of $64200-66800. This means we might see a drop to around $64000 soon. So be careful with your positions
Globally we are in an uptrend, so any local correction is a good opportunity to buy assets into your portfolio.
1-Entry Point:Ā Wait for a minor pullback or a retest of a previous support level. If the price retraces to around $61,650, this could be considered as a potential entry point.
2-Stop Loss:Ā To manage risk, a stop-loss could be placed below the recent swing low, possibly at around $61,500.
3-Take Profit:Ā A reasonable take-profit target could be near the recent high or an extension of it, such as 64000
1-Entry Point:Ā Wait for a minor pullback or a retest of a previous support level. If the price retraces to around $61,650, this could be considered as a potential entry point.
2-Stop Loss:Ā To manage risk, a stop-loss could be placed below the recent swing low, possibly at around $61,500.
3-Take Profit:Ā A reasonable take-profit target could be near the recent high or an extension of it, such as 64000
if the price remains above the nearest support at 3474.42 with a target at a previous high like 3498.29 or higher. A conservative stop loss could be placed just below the support level around 3460 to protect against a reversal of the bullish trend.
Considering the current market conditions illustrated on the chart, a possible trading strategy could involve waiting for a clearer signal. If the price moves above the aforementioned moving averages with significant volume and closes above $3499.00, one could consider a long position with a target near the next resistance level while maintaining a stop loss slightly below the moving average cluster to minimize potential losses. Should the price instead break below the support level at $3401.48, a short position could be considered with a target at the next support level and a stop loss placed just above the broken support to protect against bullish reversals.
Wait for a pullback to a significant moving average, such as the EMA(20), which could act as a dynamic resistance
One might consider an entry around the 62,888.7 USDT area, aligning with the EMA(20).
Set a stop loss above the recent swing high to minimize potential losses, possibly around the 63,070.2 USDT level, where the break-even point is also marked
Take profit could be set at the previous low of the session or if the price action shows signs of reversing back to bullish.
Entry:Ā A trader may look for a short entry opportunity around the current price level of $60961.7, or wait for a pullback towards the MA7 or MA25 for a better entry.
Stop-Loss:Ā The stop-loss could be set above the most recent swing high at around $63,000 to limit potential losses.
Take-Profit:Ā The trader may set the take-profit at a previous support level or use a trailing stop to capitalize on any further downward movement.
Bitcoin is currently exhibiting a bullish trend, with momentum building as it approaches the critical $51,150 resistance level. If it successfully breaks out, holding tight could lead to significant gains as bullish sentiment strengthens. š°