Before we get too excited about Bitcoin

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
There are quite a few levels that still need to be taken out and one of those is the highs from 2019.

The recent move has been fast and it’s been enormously impressive. But, I’ve noticed a lot of excitement and while that is good, a long-term approach is always helpful to slow down one’s thinking and process.

I made this chart from the free TradingView mobile app so it might look a little different. The point of the chart though is to the action, the fast V-bottom from the March crash and the slingshot higher. BUT, and I mean but, there are bigger levels needed to be taken out before the celebrating can really begin.
I work at TradingView helping to build charts, tools, and software for everyone interested in financial markets.



Not to mention the CME gap down at 9615 :)
+2 Reply
scheplick Crypt1cLyfe
@Crypt1cLyfe, I am curious about this gap down. Could you show me a chart?
Crypt1cLyfe scheplick
@scheplick, it's a gap up. I should have said the gap "below", I meant down as in beneath us

dragon Crypt1cLyfe
@Crypt1cLyfe @scheplick its a break away gap.. I wouldn’t put too much weight on it. There’s a break away gap sitting at $11,800 thats over a year old.. its likely we would fill that before the $9,600. Fundamentals over technicals.
+2 Reply
What's your plans on BTC ?😉
I am still skeptical about it, as you mention there are bigger levels to be taken out. I would say we still on the starting line and trigger are not pulled yet.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out