BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Remember that our last idea about second chance to long BTC?

New trade to long:
EN: 6338
SL: 5680
TP1: 7200
TP2: 7800
TP3: 8300

TP1 7200 seems possible to go . But BTC             is still move beneath the blue trendline .
TP2 N TP3 need it to break that trendline .
Then btc             can get its new life following those green arrows.
Otherwise , a disaster down to 2160 will happen soon.

Less is more!
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Reply
Nice one Vera! I remember back in December you suggested we will go down to 6k and I found it hard to believe it. We reached it just as you said. Now with the knowledge I’ve gathered in the last few months I find your idea the best setup! :) well done!
+2 Reply
@Poukitoun, thank you so much . 6K now has become a very important support zone.
BTC still decides not to break down it first.
But who knows, maybe one day ,it happens.
Reply
Poukitoun FUNTRADER-Vera
@FUNTRADER-Vera, You are welcome! :) I have a feeling that we are not done yet with this bear market (I still remain quite bullish in the longer term though) but I think BTC might want to test the 200MA on the weekly which is in the 3k zone. However we have long term support lines that will act as strong support. We only tested the 200MA weekly once in BTC history and that was after two huge bull runs between 2013-14 so a prolonged bear market made sense. A move to 3k would seriously damage the alt-coins which would be a good entry point for institutional money. At the same time BTC seems more structured and predictable than in previous downtrends. Maybe this is the work of futures? who knows... Anyway I'm 50% split on whether we are going to break to the upside or not. That is why exiting longs at 5680 would be the ideal and maybe taking some profits if we test the longterm downtrend line.
Reply
Nicee!

Thanks for your updates

Here's mine that has crypto market cap declining | BTC 1d chart meeting resistance at 6800 | 2h inverse h&S:
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