B I T C O I N

Updated

These are levels that I'll be keeping an eye on when dealing with BTC/USD, and I'll revise as price action progresses.
I adapt to the change in money flow.

Welp, the daily flipped bearish. However, Bitcoin is currently in a downtrend so, there's no surprise there along with the fact that price ran into a HTF supply. Basically, price is getting back inline with the overall trend, but if this range below price ($19706 - $22088) can give it support then I can see more upside movement. If not, I can see it heading towards $16510 which happens to be the low-end of the HTF range that price is presently within.

We shall see...

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There might be a reaction if price get to the $19706 level. Liquidity.

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Considering that the overall is bearish, the daily flipped back to bearish, I would actually look for the $22088 level to be broken which is the HL on the weekly. if price closes below, that would indicate that the weekly flipped bearish. We shall see..

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If $25000 cannot act as support then I'll look to the $22088 level which is the weekly low.

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In order for Bitcoin to cointinue going up, it'll have to break & close above $30000. However, I don't believe that's going to happen at this particular time. We shall see..

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Get ready for $25,000. 👀

If P.A. cannot find support at that level I'll then keep an eye on the $22,100 level.

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I'm anticipating 1 - 2 more bullish legs to form in order for price action to run within $34500 - $40000. If so, I'll then look for key levels to be broken in bear's favor. Anything other than that, a break of the $45750 level will flip the trend imo. Weekly perspective.

We shall see..

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Bitcoin finally had a break below key support on the daily. $25000 is looking like price's next target. 🤷‍♂️

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I wouldn't be as excited on this current rally. Read the previous price, and you should understand why I say that. 🐻

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$25000 is up next! I'll be looking to see if price will find support between the $22100 - $25000 range. We shall see...

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I called it. $25000.

If $25000 - $22100 cannot act as support, then $16500 is next.

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Fundamentals:

"BlackRock Close to Filing For Bitcoin ETF" - Coindesk

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Fundamentals:

"Binance launches Bitcoin mining cloud services amid SEC crackdown in the US" - Cointelegraph

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Price found support at the $25000 level. I'll look for Bitcoin to break the weekly range, hit above the $31100, hold and move up to this massive behemoth that's been waiting on price to reach it. We shall see...

P.S. The range starts at $35200 and ends at $43000. $45600 would flip the whole trend from bearish to bullish on the higher perspective.

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I would look to see if price will hit the $31315 level. If so, I would anticipate a downturn, even if it's short term. If not that, I'd look for a break of that level for continuation to the upside where there's something huge uptop waiting for price.

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P.A. hit the $31315. I'll look to see if it'll be respected or not, but for now, it has repelled from the level.

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***I'LL MAKE A MORE UPDATED PUBLISHED IDEA ON BITCOIN***

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Looking like it's ready to break below the $30000 mark. If so, next location of interest is $27200.

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The $30000 level was hit, price could head toward the $30920 then more drawndown. We shall see..

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Triple top at the $30922. I'll anticipate a sweep of those highs to the $31315 to head further down UNLESS there's a break of the $31315.

ChrisJTradesFX

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