I took my biggest profits when I went against the trend.
- In February 6 - when everyone was talking about 2k-3k, I entered at 6.3k and I sold it at 11k
- In April, I entered at 6.5k, sold it at 9.7k and shorted all the way down to 8k
I can see volume dropping and hype fading away, but I still believe that
BTCUSD
has enough juice left to raise from the ashes for one more time. I am scanning order books a lot to find possible support and resistance areas and I can see that between 7.2k - 6.8k we do have really heavy global support. To suppress price now below 6k-5k, it would take weeks. It is possible, but a bit unlikely now without catalyst.
Furthermore, dropping below 6.5k means that we have wave failure as well.
On the other hand, if current support is holding and we will not drop below 6.5k, we might have an awesome R:R setup here.
I am currently accumulating between 7.3k – 6.8k. My stop loss is slightly below 6.5k. If we would drop below 6.5k, I will re-consider my strategy again as we are in full bear market.
- In February 6 - when everyone was talking about 2k-3k, I entered at 6.3k and I sold it at 11k
- In April, I entered at 6.5k, sold it at 9.7k and shorted all the way down to 8k
I can see volume dropping and hype fading away, but I still believe that
BTCUSD
has enough juice left to raise from the ashes for one more time. I am scanning order books a lot to find possible support and resistance areas and I can see that between 7.2k - 6.8k we do have really heavy global support. To suppress price now below 6k-5k, it would take weeks. It is possible, but a bit unlikely now without catalyst. Furthermore, dropping below 6.5k means that we have wave failure as well.
On the other hand, if current support is holding and we will not drop below 6.5k, we might have an awesome R:R setup here.
I am currently accumulating between 7.3k – 6.8k. My stop loss is slightly below 6.5k. If we would drop below 6.5k, I will re-consider my strategy again as we are in full bear market.
Comment:
We are moving closer to the target:
Comment:
There was a nice bear trap.
Everything seems to be part of much bigger move. Either up or down.
Everything seems to be part of much bigger move. Either up or down.
Comment:
A lot of triangles. We are jumping up and once we touch the resistance we will quickly come back down again.
There are signs of heavy accumulation. Once we drop, everything will be immediately bought up. I guess, whales don't want to take risks anymore, because demand below 7200 is insane.
There are signs of heavy accumulation. Once we drop, everything will be immediately bought up. I guess, whales don't want to take risks anymore, because demand below 7200 is insane.
Comment:
Not really sure what Bitcoin is thinking to do now. We can already count 5 waves, while we are not seeing much retracement. Whole structure looks like ending diagonal now. I am adding shorts and raising stop loss for Bitcoin that I was able to buy between 7300 - 7060. There is also some chance that we will hit 7900 or so.
