Bitcoin Analysis

[JimmyRozza]

It made a lower high. I think either a lower low here or we may start to see a squeeze.

 

[bigbax699]

Good morning all, there hasn't been much to report on Bitcoin of late. Due to price being very idle and moving in this small range. Are we on the verge of a breakout? It certainly looks like we could be. Price is getting squeezed here, what I like most about this price action is that it is making higher lows even in the range. Is this the bottom? Have you bought in? Let me know your view's on Bitcoin and the next direction of at least a medium term trend. I have bought and will hold unless we see more bearish action. GLIYF

 

[JimmyRozza]

The squeeze is on! Hard to say which side the unpredictable beast will break out here. I have seen a lot of bearish views calling for one more leg down and a lot of bull views saying local bottom is already in. Personally I will wait for break out and trade the winner.

 

[Dorourke5]

There's a lot of talk about the 55k region then retrace and maybe altcoin season kicking in. I heard another analysis targeting the 75k area !! I think with the market situation at present we can expect a lot more consolidation until there is more confidence in the market. A lot of uncertainty globaly.

 

[Jim B]

Btc has been bouncing around this area for a while now mate, I have bought some more so hoping it does go back up from here sooner rather than later.

 

[pezz55]

Good morning all, there hasn't been much to report on Bitcoin of late. Due to price being very idle and moving in this small range. Are we on the verge of a breakout? It certainly looks like we could be. Price is getting squeezed here, what I like most about this price action is that it is making higher lows even in the range. Is this the bottom? Have you bought in? Let me know your view's on Bitcoin and the next direction of at least a medium term trend. I have bought and will hold unless we see more bearish action. GLIYF
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still waiting for the break out between the 2 trends. it is consolidating and ranging well but not showing any real signs of direction. over all we get a short term pump or drop but seems to correct back in to the range just as quick

 

[Treacle]

Looking good now for a rise

 

[SimonMatthews]

It's on a good bullish run now, didn't get in for a buy on this one will have to try again next time.

 

[bigbax699]

Finally! We got the breakout on Bitcoin! Price action was suggesting this would happen so i hope you following along managed to get a buy in on this move. We find price sitting in the supply zone which has contributed to recent drops back so this is the level we need to break for a nice medium term continuation trade. We are currently 618 pips in profit. So if you want to take profits here that's fine, or close half position and let the rest run. Looking for a retest of the break of wedge for continuation, or a continued push. Will update again next week. GLIYF

 

[Glastonburyk]

Agreed you need to see another HH form to consider this truly bullish.

Agreed could easily have been a dt