BTC: Weekend trading

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin likes to rally through Friday afternoon into an early sunday selloff (this has been the case for the last 6 consecutive weeks)

Here you will see on the hourly that we will look to attack the $8600 range in the next few hours.
Here we may find some resistance and hopefully then breakthrough with eyes on the 200sma and next level of resistance in the 9-9.4k range where heavy resistance will be met.

A break as described would suggest a lower time frame cup and handle breakout is in play, with a potential sunday pull back representing a throw back to the cup breakout level.

If we can sustain bullish momentum $11k looks possible next week with obvious initial difficulty breaking 10k.
If you miss a break, wait for throwbacks/ confirmation.

Risk of lows look to be at $7900.

Happy trading and all the best

Comment: So we nearly hit 9.1k. I took half of my trade off the table at that level for a nice $800 move now looking to re enter lower tomorrow. let’s see if we have another go at 9.4 tonight.
Comment: suspect were about to see a 350$ ish move

Comment: We got the move down and caught a great buy the dip re entry.
Trade closed manually: All trades exited.

Profits booked initially on the $800 move up and then $500 bounce so happy with the result.

Im sitting it out to see if the bulls can sustain the green on the weekly (pink line shown) Will set up the move for next week. Watch for the final 4 hours of the week, they will be volitile.

Permit me to correct you sir. What we have there is a flag, not a triangle.

Commodore3 Commodore3
@Commodore3, And we just broke above it! :D
Bullish or bearish? Anyway, I look forward to some day soon that I will be this good with analysis. In the meantime, I would try to see how I can still make some profitable trading gleaning from you.
+1 Reply
350 up or down? Or vague on purpose? :-)
+1 Reply
WillRoper WillRoper
My vote is down fwiw
+1 Reply
filbfilb WillRoper
@WillRoper, ha.. on purpose. Im marginally bearish in opinion.
We are in an ABC correction in 5 minutes timeframe. We're currently in wave 4 of wave C. I'm waiting for wave 5 to help me push ripple down to the 0.90s. Looking to do some nice pair trading. I'll take my profits off immediately it's midnight UTC. Thanks for the heads up on the weekend cycle
Your analysis is always spot on much appreciated!
+1 Reply
It's amazing how much the timing of price action has come into play for Bitcoin. Thanks for this!
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out