Slowly but Steadily towards 7900 if 6000 doesn't break again!
Updated
Hi guys,
Short term idea here, for the mid term I think my previous ideas are still valid (taking into account that we had an intra wave correction for which I was not able to predict the bottom price).
Be careful shorting this! I think this wave can only be finished above 7k, lots of bears may be shopped to death later this week.
I know there is resistance at 7400-7500, and I believe it might impact short term price movements. However, I am convinced it will not be the point of reversal, I still expect that to be at 7900-8000 as I've indicated in past ideas. This thought has never changed for me, even if we would have gone as low as 5.3k, it would not invalidate that bullish PT of 7900 that I have in the short/mid term!
Stay save and good luck swing trading at no/low leverage!
Short term idea here, for the mid term I think my previous ideas are still valid (taking into account that we had an intra wave correction for which I was not able to predict the bottom price).
Be careful shorting this! I think this wave can only be finished above 7k, lots of bears may be shopped to death later this week.
I know there is resistance at 7400-7500, and I believe it might impact short term price movements. However, I am convinced it will not be the point of reversal, I still expect that to be at 7900-8000 as I've indicated in past ideas. This thought has never changed for me, even if we would have gone as low as 5.3k, it would not invalidate that bullish PT of 7900 that I have in the short/mid term!
Stay save and good luck swing trading at no/low leverage!
Note
Bitcoin short term ranging in a very tight range, no resolution so far.Note
**Perfect hit of the orange box!** There is a reason why it's colored orange... I do not expect a big retrace from here, let's wait for a break and see what happens at 6.5-6.6k level, which will be a lot more interesting!Trade closed: target reached
In the meanwhile I kept things simple.I sold half on the first touch of the orange resistance (0.5 FIB), I bought it back at the 0.236 FIB of our move indicated by the green support on the chart below. I sold that half again which we went into short term overbought on the RSI above 6400, and I am still keeping half to sell at the red box if we make it or at a lower high if we don't.
Note
Short term support trendline.Note
Trade closed: target reached
This has been an easy day to predict, good night! :-)Note
The trend line I drew yesterday afternoon is STILL supporting the Bitcon price right now. This might break though. Looking at the 0.5 FIB at 6240 ad the final support for this uptrend.Everything above 6240 looks bullish with PT for me at 7.9k.
Everything below 6240 looks bearish with PT for me at 5.4k.
Note
Note
7 hits by now, from which 5 were perfect hits.Note
Trade active
Trade active
Good BO seems to be Great BO haha...Trade active
Last support at 0.5 FIB in play right now, this is it guys, this is the moment where the whales have to decide how the rest of the week will proceed. Have fun!Note
Hoped to have had way more likes on this one TBH.8100 with 7900 as profit taking TP is still in play, I already started mentioning this weeks ago (check other ideas), not kidding...
For now 7060 will be the main focus determining EVERYTHING that comes next! It is the very last resistance that has not been tested since the 0.5 correction on our big move. If that one tests and breaks, it would almost guarantee 8100, if that one does not break it would almost guarantee a slow bleed to 5.5k (take 5.4k because of liquidations, just like the 0.5 FIB at 7.2k broke towards 7.3k because of massive liquidations).
So HUGE up or HUGE down move incoming, all depending on wether or not we break this small resistance upcoming at 7060!
Currently struggling at the 0.5 FIB.
Stays safe!
Trade closed: target reached
ONCE AGAIN almost perfectly nailed it, see comment above...I said 7060 and it went to 7050, now we need to check if this chart on the smaller time frame forms a lower high below 7050 or not. In case it does tha twould be ultra bearish, in case it breaks that would be ultra bullish.
I sold of half my position at 7049.5 and for once I ended up being lucky as 7049.5 was the highest price at which BTC traded for now.
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