BTCcoinsultant

Bitcoin Price Action On The Edge

BITFINEX:BTCUSD   Bitcoin / Dollar
169 5 3
Closed my $228 long position on the second attempt at a breakout. Bitcoin prices appear to be on the edge of the next major move. If prices move back up along the blue trend line our next attempt at $238 may be a real breakout. If on the other hand prices fall down and we break $232 support I anticipate the potential for a dump back into the $220's.
ChartArt
2 years ago
I would not call the peak there a fake out. The price was simply super extremely overbought and ripe for a pullback.
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ChartArt ChartArt
2 years ago
FYI: You posted a really good chart and I share the same expectations trend price action wise :)
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BTCcoinsultant ChartArt
2 years ago
Good point... it faked me out at the time. ;-) Looks like the markets are losing strength, perhaps we'll get a repeat of last weekend? That said the $233 zone has been holding all day. Thanks for the feedback. Cheers!
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ChartArt BTCcoinsultant
2 years ago
This price move was very evil. First we dropped below the stable area and then we suddenly pumped through resistance.
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BTCcoinsultant ChartArt
2 years ago
Ya I noticed that, very erratic. I set a short order at $230.80 to catch the dump and fortunately it was low enough that it didn't get executed on the dip.
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