Bitcoin Analysis

[RahmanSL]

Well it certainly looks like Bitcoin is moving in a boring sideways movement. For what looks to be the ''bottom'' of the current bearish price action, the movement we have seen of late has been very boring. In comparison to the previously very strong movements we have seen. If you were a day trader scalping in and out then its certainly possible to scalp Bitcoin up and down in this range. But I do feel that we are not too far away from a strong impulsive breakout, hopefully that's in our desired bullish direction. Let me know your thoughts below. GLIYF
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On D1 time frame, since 20-May, the price range has been between USD41-31..... we can supposed that eventually it could break either way.

 

[ForexWarrior2020]

Well it certainly looks like Bitcoin is moving in a boring sideways movement. For what looks to be the ''bottom'' of the current bearish price action, the movement we have seen of late has been very boring. In comparison to the previously very strong movements we have seen. If you were a day trader scalping in and out then its certainly possible to scalp Bitcoin up and down in this range. But I do feel that we are not too far away from a strong impulsive breakout, hopefully that's in our desired bullish direction. Let me know your thoughts below. GLIYF
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So much liquidity to attack to the upside. Im hoping this it the beginning of the bull

 

[JimmyRozza]

Would love to see it pump in the next couple of days

 

[bigbax699]

Good morning all. Checking back in on Bitcoin today. Feels really strange reporting that there has been literally zero movement compared to what's happened to the left on the chart. It is literally a sideways market. I still believe in my setup and that we are at the current bottom of the market. Will we see a breakout in price soon, time will tell. Let me know your thoughts below. GLIYF

 

[Amina El Mehdi]

Would love to see it pump in the next couple of days

Patience. This is the most important at this stage.

 

[JimmyRozza]

Patience. This is the most important at this stage.

Indeed! Patience pays!

 

[bigbax699]

Good morning all. I have seen a lot of posts on social media over the past couple of days saying ''bitcoin is dead'' ''crypto is finished'' etc etc. Seems pretty strange when the price of 1 Bitcoin is $30K+ lol. It is the same price it was in January. But for me this demand zone we currently sit at really seems to be decisive in trend direction. As you can see it is hard to argue we are at the current bottom of the trend, about to meet the up trend line , so personally things may be looking up from my perspective. Still on the buy from here at this zone. GLIYF

 

[bigbax699]

What a difference a day makes!! Two bearish daily candles and now today Bitcoin has broken below the 30K barrier. I see panic posts everywhere. Is it time to panic? Seems that way as the trend line has been broken. Im on full alert I could be stopped out any second but that's ok as I set my % risk to lose. But i still have faith UNTIL that big demand zone gets broken. Defo one to watch over the next couple of days, could get interesting. GLIYF

 

[Amina El Mehdi]

And we bounced back very good.

 

[JimmyRozza]

Now time to see if we can hold. I'm still bearish for now.