BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
After 3 weeks It looks like we are finally here? There is support at $47k and is a potential bounce point so the dip might be delayed by a few days / not happen - red arrow

IF the drop occurs here:

- MY TARGET: $37,900 / the stops behind the structure circled in pink. It is a stretch target as imao this is where the support really is - $41k looks too obvious and weak although the general price action is bullish so I'm not discounting this as an entry point but risky if using leverage - both financial an mental.
- IDENTIFYING BOTTOM: Structure wise I'm waiting for an initial large bounce (possibly up to $45k), then a dip below this mark - estimated on day 2 of drop. This will offer up a safer entry point for me. I'm not expecting a quick dip - 1-2 days sitting at the bottom of this range

-- USD to Target
-- All in at Target long for next month

Note to self:
- Both log and linear lines on this chart so can be confusing at an hourly timeframe - Yellow are log (long-term)
- All the above is hypothetical but someone stole my catalytic converter from my car yesterday and it needs some money to replace it so worth a shot :(

Best, Hard Forky


Comment: looks like we will run shallower. still expecting the retrace down from the resistance at 48k
Trade closed: target reached: That is the end of the correction imo
ran shallow

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About 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 Private Messages Chat Sign Out