Bitcoin Analysis

[bigbax699]

Evening all, couldn't sleep so thought id check up on the charts see what's going on. Bitcoin Went straight into profit for us from the circled area I had marked up for a while which was nice to see. We had a couple of bullish days but price slowed down when it hit that supply zone above which caused the drop through previous demand. Today we have a bearish candle and what is possibly a lower high. So I advise to move SL into profits slightly here. If price respects the trend line and moving average we could be ok. But if it looks to break through trend exit the trade with your profits. Could go either way this one for me now at this point. Secure the bag and watch it out. GLIYF

 

[ForexWarrior2020]

Really like the advice on trade management. Its so key not many actually talk about it. I seen a marked improvement once I started to take profits off the table

 

[Amina El Mehdi]

What MA is the blue line?

 

[bigbax699]

Evening all, the forex markets aren't open until later this evening so its time to check what the weekend has been like for Bitcoin . Does it look like the bull run is here to stay? Well it does for me, we've had a couple of lovely impulsive bullish candles creating higher highs and higher lows, broke through the 67K resistance. I would expect to carry on from here so if you joined me on this position then keep holding and moving Stop Loss into profits along the way. Would be nice to make a new ATH this week. GLIYF

 

[Amina El Mehdi]

Sideway week for now. Let`s see the weekend.

 

[Ken_T]

You were spot on with that bounce, I just checked the chart

 

[LHill97]

Excited that you think we're on path for new ATH's - got a decent bag of BTC atm

 

[bigbax699]

Good evening all quick check back in on our Bitcoin buy position. Last time out we had just created the doji candle above the 56k resistance, so was looking for a pullback to the trend line and for price to continue. Well we got just that, as you can see it played out perfectly. Currently 8.1K pips up on this position. I’m looking for Bitcoin to make a new ATH for the bull run to continue. Easy places to stack your buys if you are following, always remember to move SL into profits to secure pips. GLIYF

 

[bigbax699]

Good evening all. Checking back in on our Bitcoin trade. I personally think we are coming to a turning point here. We are currently in profit on our position. But it looks like price is getting squeezed into a corner. Either we will continue and break out to make a new ATH . Or we could drop below and possibly see a bigger pullback. Either way I dont mind, if we go up more pips for us, if we go down then close positions with profit and possibly wait to buy in at hopefully a cheaper price. Keep your eyes peeled on its next move. GLIYF

 

[bigbax699]

Well Bitcoin has shown us its possible next direction. I was stopped out at 4K pips, and that's why we put our SL into profits when moving up with price I guess not surprisingly it looks like it could be a bear. We have now had our second lower low and a lower high created in structure. Elon Musk said he will no longer accept BTC for Tesla and Bitcoin took a nose dive. Is this just a reaction to what he said? Or are we entering a short term bear market? We have already got out demand zones marked out where to buy in next, lets just hope it drops further so we can get a good cheap price to buy in again. GLIYF