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It's a bit like the Hitchhikers Guide to the Galaxy in the Bitcoin universe right now, follow the rule, DONT PANIC!!!
Of course, there are cases for a lower bitcoin price and might see over the coming weekend 20th-22nd Nov, drop down to $55k, i don't think it will test the $51-52k area that soon, we're already in the oversold area on the RSI and things are looking very green across the whole cryptomarket's leading coins
Ideally, we would like to see the week close out above $60k so bearish sentiments can subdue, yet short positions (ill get an updated chart up soon showing this) are extremely low and the smart money is on a higher-priced bitcoin as we head into 2022
If the yellow trend support line if crossed then i might start to change my mind on bitcoins direction but as I see it from 11 years watching bitcoin and going thru a few supercycles, id say we have not even started the parabolic move yet
To all my USA frens, have a great Thanksgiving next week, hope the Turkey ain't too pricey but a good way to discuss how inflation will effect the family :)
Big love to all, stay safe, use a stop loss x
If you want cheaper fee on trading please consider moving to FTX, link is below...
It's a bit like the Hitchhikers Guide to the Galaxy in the Bitcoin universe right now, follow the rule, DONT PANIC!!!
Of course, there are cases for a lower bitcoin price and might see over the coming weekend 20th-22nd Nov, drop down to $55k, i don't think it will test the $51-52k area that soon, we're already in the oversold area on the RSI and things are looking very green across the whole cryptomarket's leading coins
Ideally, we would like to see the week close out above $60k so bearish sentiments can subdue, yet short positions (ill get an updated chart up soon showing this) are extremely low and the smart money is on a higher-priced bitcoin as we head into 2022
If the yellow trend support line if crossed then i might start to change my mind on bitcoins direction but as I see it from 11 years watching bitcoin and going thru a few supercycles, id say we have not even started the parabolic move yet
To all my USA frens, have a great Thanksgiving next week, hope the Turkey ain't too pricey but a good way to discuss how inflation will effect the family :)
Big love to all, stay safe, use a stop loss x
If you want cheaper fee on trading please consider moving to FTX, link is below...
Trade active:
Trade active:
looking for a close above $60k on the weekly
looking for a close above $60k on the weekly
Trade active:
just closed under where id like to be, but nothing too bad here, just watch markets as they open midweek
just closed under where id like to be, but nothing too bad here, just watch markets as they open midweek
Comment:
hope you got the dips too...
still can go lower, good start already as we go into mondays trading week
still can go lower, good start already as we go into mondays trading week
Trade active:
close below 53k could be a more concerning sign, close above 54k all is fine x
Trade active:
respecting the TA to a tee
respecting the TA to a tee
Trade active:
the big market play late on Friday last week really took out the current TA
MASSIVE amount of liquidations, billions of $$ worth
gunna be a big bear uprising while prophets try and predict what's coming next
personally looking at 1hr/4hr/1d charts still looks bullish, only if $45k starts getting tested i might change my tune towards a new monthly low
watch DXY and dollar strength this week, looks messy already
the big market play late on Friday last week really took out the current TA
MASSIVE amount of liquidations, billions of $$ worth
gunna be a big bear uprising while prophets try and predict what's coming next
personally looking at 1hr/4hr/1d charts still looks bullish, only if $45k starts getting tested i might change my tune towards a new monthly low
watch DXY and dollar strength this week, looks messy already
Trade active:
we have a break out of the range
we have a break out of the range
Trade active:
all ive done is extend my trends lines of support
all ive done is extend my trends lines of support
Trade active:
look where the latest trend lines converge!
Trade active:
look where the latest trend lines converge!
Trade active:
BIG whipsaws over the last 48 hrs, great for a day trader if u can get the sweet spots!
Anyhow, while upside of that uptrend channel the price was extremely bullish but always going up to fast IMO, some margin plays cause the rapid movements and now we're back in the channel but not out of the woods, selling pressure brought us down to the current support level and ideally i'd like to see this hold for futher gains into the weekend and beyond
BIG whipsaws over the last 48 hrs, great for a day trader if u can get the sweet spots!
Anyhow, while upside of that uptrend channel the price was extremely bullish but always going up to fast IMO, some margin plays cause the rapid movements and now we're back in the channel but not out of the woods, selling pressure brought us down to the current support level and ideally i'd like to see this hold for futher gains into the weekend and beyond
looks good peeps