Bitcoin Analysis

[marco_mmbiz]

We could see the old ATH from 08.01.2021 from above, before we'll jump out of this downtrend again.
BTC/USD D1 (log):

 

[ForexWarrior2020]

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
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Its so important to take profits and move your SL in my opinion. Once the risk to reward is set properly you can't go wrong doing it.

 

[Alfons]

Thanks for the analysis that you’re posting here. I have been trading btc recently but I’m thinking now is the time to be shorting btc.

 

[Amina El Mehdi]

We could see the old ATH from 08.01.2021 from above, before we'll jump out of this downtrend again.
BTC/USD D1 (log):

Why $42k price level exactly?

 

[bigbax699]

Well it looks as though Bitcoin has turned bearish . We have broke structure on the Daily time frame creating our second lower low and we also have our lower high. But where will it find its support? Obviously the cheaper the better for us, but can we trust it to pump so high again? Ive marked out the levels that I would be interested in buying from. I would need to see a daily doji candle on one of these levels before I would take a buy. But the good thing with crypto is we can also hold physical in these low areas as well as trading. I will be stacking at each level we hit going down. Let me know your thoughts below. GLIYF

 

[marco_mmbiz]

Why $42k price level exactly?

You see, it already happened today. The 42k is just an area of interest for huge buyers, because it's the old ATH area from 08.01.2021. "Old resistance becomes support".

 

[bigbax699]

Who's selling Bitcoin? Clearly looks like a bearish market as stated previously. So let's take a sell if it presents itself. I have marked out the area just under 50K where I would like to see price make another lower high in this bearish movement. If we get one then see resistance then I will jump on the sell. That's what trading is about making money up and down. Mark your area's out and get ready to take the trade. GLIYF

 

[Amina El Mehdi]

You see, it already happened today. The 42k is just an area of interest for huge buyers, because it's the old ATH area from 08.01.2021. "Old resistance becomes support".

OK. But what about now?

 

[bigbax699]

Good evening all, hope everyone had a good weekend. Forex markets open later but the Crypto never stops. Is it time to buy Bitcoin yet? Well this is now in my first real area of interest. To the left is a very strong weekly demand zone where we had a double bottom and then the rise. In the recent flash crash on 19th May we saw price move down very quickly only to wick out from the 30K demand area, which shows it to be a strong area, For which we are now around. I will most likely place a buy here for 2% account risk just to test the water incase we do find some good support. If its not the case then the next zone below I would like to buy from. GLIYF

 

[TareqS]

As of today, Bitcoin is trading around 35000.00. The price may remain bearish for a while as far as the Monthly chart is concerned. However, it may get bullish in a month or two and head towards the North again.