Bitcoin Analysis

[momo3HC]

There will be some strong buying power around that $40k mark

Absolutely. The last dip to almost $41k showed it.

 

[bigbax699]

Good evening all, updating today on the Bitcoin intra day sell I gave out last time. We saw price break through trend and was re testing perfectly. It was the time to sell and price has respected the technical analysis very well. As we can see currently it's 3482 pips in profit on this position, was very easy one to take, and a perfect example why you should take advantage of selling Bitcoin on a leveraged account. Not just HODLING and losing money on your portfolio. I would love to see price fall further to 1- Buy more BTC to HODL 2- To buy a leveraged position for the next bull push. If you took the trade and keep holding for now. Will update again soon. GLIYF

 

[sebking1986]

Agree with the level. Think the wick needs filling and there is a price imbalance just below it as well.

 

[Treacle]

Tricky one, looks like it's revving up for a rise but maybe not until next year now

 

[bigbax699]

Good morning all, having a look back on Bitcoin before the year comes to an end. The sell given out last time out has given some profits, but we have seen price re visit the entry zone, which has also confirmed a true supply zone as again we have seen price fall from there to virtually the same point. We seem to be stuck in this range from 52K-45K currently. This demand zone looks to be holding also. So if you are selling now is a good time to take some profits. The next impulsive move will give us a good indication for a longer term trade. We could buy from this demand zone where price currently sits with a small position. We can also wait to see if price wants to fall lower to the primary trend and stronger demand zone . Either way get as much cheap BTC as you can. Hope everyone had a good year. GLIYF

 

[sebking1986]

In a really interesting spot at the moment as you can make arguments for targets below and above price but it's still just staying in the range for now.

 

[bigbax699]

Bitcoin is bearish! Previous posts on Bitcoin I posted the intraday sell from the break and re test of the secondary trend line . It worked out perfectly but price was bouncing in that range throughout December. but we have finally got the break of demand for the continuation on the sell. We are heading to my desired area to buy back in on Bitcoin , on leveraged buy's and to buy physically and HODL. Currently 7300+ pips in profit with this sell, keep holding for now but get ready to close those sells and take profit. As I will be looking for the buy if we reach the trend line . GLIYF

 

[sebking1986]

I'm keeping an eye on that low around 40k. Think that could get swiped. Will look for reaction if it does.

 

[ForexWarrior2020]

Nice post, I think its coming to the end of a sell model. We could see a reaction from your marked area for a buy

 

[RachelEB]

A major support, so will be a key level to see where price moves from here. Fingers crossed it will be back up.