Bitcoin Analysis

[bigbax699]

Good morning all, checking back in on our Bitcoin buy's. Nice to see all is going well, from the first position I bought in at we're currently 18K pips in profit. The bull run has continued to progress and the second stacked buy position I gave out is currently 6.4k pips in profit. All well above good R:R ratio's. So your free to close partial profits or lock in profits with a SL. Price has now broken above the 50k barrier, so all is looking well to continue. There could be a possible 3rd area here to stack again. But as I have two I wont be entering again. No need for greed. But if you missed out on any previous then go right ahead. Keep holding and ill update again soon. GLIYF

 

[davtrent55]

Keep riding that wave!!!

 

[bigbax699]

Good evening all. Looking back at Bitcoin again today, as obviously we had a very big impulsive candle to the downside. Media outlets calling it a 'crash' and half of the internet. But lets take a broader perspective, we want to know what's going on mid to long term to make good profits. Obviously the second stacked position would of got stopped out at entry if you made it risk free. If you didn't it would be slightly in profit. But this is also a good indication as to why we take profits and also secure profits along the way by moving stop loss up just incase we do get a crash.

Is that just the second major higher low in the bull run? price seems to of hit demand and respected it. Certainly looks to of found

support. Only time will tell, still in good profits so keep holding for now. GLIYF

 

[ForexWarrior2020]

I like the look of this. It seems we're entering a nice steady buy model. I can see it pumping again now coming up towards Christmas like it did last year.

 

[JimmyRozza]

I see Saylor just bought another 5050 BTC at this level. Agreed, push north is coming

 

[bigbax699]

Good evening all. Checking back in on Bitcoin again today. The buy position is still looking well. After a few days the drop back in price does now look like it was just a pull back along the way in the bullish trend . As you can see the demand zone between 42-44k has held strong, add that to the moving average and trend line support its provided multiple confluences of support in the trend. Still over 15K pips in profit on original position. Continuing to hold u as long as the trend holds up, if it breaks will then look to close for profits. GLIYF

 

[momo3HC]

I believe that your 3rd trade will be triggered this week.

 

[ForexWarrior2020]

Once it takes the highs to the left I can see it dropping in a nice retracement to you area. Im still confident well see a strong bull run coming into Christmas

 

[bigbax699]

Checking in back on Bitcoin . Weirdly this trend seems fairly boring and is moving more like the forex markets. Almost text book. Currently still heavily in profits, price is even respecting more and more technical aspects, i.e EMA , Trend line .

BUT I wanted to try and add Volume into my outlook overall. Does anyone have any tips on what to look for with Volume . Would appreciate and helpful insights to add to the tool box. What I can see is volume is very low compared to the past, and were still high in price so that's surely a good thing right? Let me know below. Keep holding the buys for now

 

[bigbax699]

Good evening, update on our Bitcoin buy trade. I have closed my trading position on yesterdays candle close. Closed the remaining of my position at 10.5K pips. With the drop through trend and price making a lower low it was certainly time to close the position and take profits. But this drop I price also provides us opportunity to buy actual BTC for cheaper, just a small batch to dollar average in. which I got with some of the profits taken from the trade. Great way to accumulate BTC . If you was following I suggest you do the same, I will look for the next trading opportunity and update again in a few days.