Bitcoin Analysis

[bigbax699]

Good morning all, looking back at Bitcoin today for trade idea's. I was hoping price would drop through the small flag down to the demand area and trend line so I could get a good buy in. But yet again BTC shows us the bullish power. We have come up to the ATH once again for a double top . Is anyone brave enough to sell here at the double top ATH? I learnt that price moves in 3 waves most of the time, so is it possible we will see price push up another wave and make a new ATH again soon? I would prefer to buy in on price dropping to demand. Let me know your thoughts below. GLIYF

 

[Amina El Mehdi]

Let`s we all say Hello to $60K level.

 

[bigbax699]

Well it's no surprise has made a new ATH yet again. We have touched over the 60K mark now. Where will it top out? No-one knows. All we know is we want to buy in and join the ride. From the previous options I listed price came to the demand zone most recently created and has continued up. I personally didn't take that trade as I was looking for a lower price to get in with. But if you took that first zone then you will be in good profits now. There is no major supply zones for Bitcoin for price to react with, we are just creating demand after demand. So I have a couple of options here to join in the bull run. If it comes to the first option I will take it this time. Patience does pay and always use risk management when trading. GLIYF

 

[marco_mmbiz]

It's still a long way to go...

 

[JimmyRozza]

Currently sitting around the first demand zone..... Eying up the lower zone

 

[bigbax699]

Looking back on Bitcoin today. This time I took the trade when price came back to the demand zone and rejected. I gave these setups out so I guess some of you took it also. Currently 2160 pips in profit, but I have already set my SL to my entry point as I fear we could be near the top. But knowing Bitcoin and how surprising it has been I will keep holding for now. I suggest you do the same if you followed this setup. GLIYF

 

[Tomas Siman]

I wonder if bitcoin will cost 100k?)

 

[Amina El Mehdi]

It's still a long way to go...

WOW... Both prices will be awesome.

 

[bigbax699]

Good evening all, checking back on Bitcoin and reporting SL was hit at entry. That's quite alright as nothing lost nothing gained. That's why we stick to the rules of not giving back to the market if we can help it. Anyway onto the next setup and we have bitcoin squeezed into a corner again. My favorable position would be to come down and find the demand zone and primary trend line before another push up. Price could accumulate longs here in this demand zone and push up so you could trade the breakout above, but my preferred entry would be a break below. Lets watch for now. GLIYF

 

[bigbax699]

Last time analyzing Bitcoin we saw price getting squeezed into a corner. I wished for price to drop below, and that's exactly what we got. But price hasn't dropped as far as I would like to buy from yet. We saw a few impulsive bearish candles drop through, and now we have a bullish retracement candle. Could this be a break and retest of the demand zone? I'm hoping so, as I would really like to buy from the strong demand zone below. Let me know your thoughts below. GLIYF