Long

Critical Moment for $BTC: Last Chance for Entry or Path to Doom?

Updated

Massive Level for BTC

As things stand, we’re at a crucial point for a higher low and a complete validation of the weekly bearish BMS. We need some demand to step up in the 56-60k region to propel us to "Valhalla" and set the stage for a strong end to the year.

Be aware that if we drop below 58k, it could pose significant risks for a bullish outlook. This is the moment to act and take a stand at these prices!

Keep your bids around the mid-59k range in case it dips that low. The trade is active and rolling!

Trade active

First bids have been filled! Now I’m waiting for lower mid-59k for potential additional entries. Let’s see how this plays out!

Trade active

Let's set our first target at 64k.

If it breaks above that, the market will be strong enough to retest the 69k area.

We need to reclaim that last level to ensure a safe upward trend. For now, let’s wait for the first resistance area.

Trade active

Not much of an update since the price is still hovering around this key area. I believe it might take another week or two before we see any significant movement. Once it starts trending, we could reach our initial targets.

For now, it looks like a rotation play, so patience is essential.

Note

Trimmed some off at the 64k area.

Following the rejection, I'm now waiting for 62k to hold or a drop back to entry levels.

Sub 60k is still in play for me.

Note

Good level.

Should stay sideways this week.

CPI thurs, PPI Friday, Consumer Sentiment...

Trade closed manually

Need to wait on a lower price level.
Rather secure the rest and look for another trade setup.

Note

Closer to the point of interest.

Trade active

I've made some purchases.

I wanted a bit lower, but if it starts trending upward from here, I'm more than happy to ride the market.

I'd rather it go up than see another drop into my bids ;)

Trade active

I sold the swing high and bought the swing low. Was I scared? Not really. If you don’t take risks, you can miss out on great opportunities.

It’s all about following your system and trading A+ setups. Less is often more.

Am I calling victory? Nope, we’re still below the monthly open, and this is still in a rotational phase. I won’t call it a victory until we reclaim 69K with full force and it doesn’t retest before pushing higher—that’s how a breakout should work.

I’m expecting a small retrace here before more sideways movement. Welcome to Flatober month!

Note

Decent weekly close—much better than expected!

Let’s see if it starts rolling over at the beginning of the week for a retest into 60.7k.
It’s worth considering longs in that area if it happens. Otherwise, I still believe we might see more chop before the trend begins.

Note

12hr view for reference

Note

Retrace invalidated... for the better!

Target on the way!

Note

It should breakout this time. So just hold!

Not fading the top of the range... not this time

Note

We're getting close to the target! I'll take some profits and create a new post outlining weekly targets, as a new trend is confirming right now.

That's a solid 16% gain from the last trade!

Trade closed: target reached

Target hit!

We might see a small pullback into the 64k zone. I still believe we’re not fully set for a breakout, and a small retest is likely. If we skip that and head straight to the 81k target, even better! We could potentially reach 110k as well.

Note

I’ll be opening a new post with the weekly targets, as we have a new trend active.

ZelfTrade

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