BTCUSD HEAVY MOVE IN BUYBitcoin, the largest cryptocurrency by market capitalization, declined nearly 6%, dropping below the $65,000 level for the first time in nearly ten days. The asset’s price drop ushered massive liquidation in derivatives markets.
Several altcoins and meme coins noted massive drawdowns in response to Bitcoin’s correction. The biggest declines were noted by Sei (SEI), Floki Inu (FLOKI),and Dogwifhat (WIF), nearly double-digit corrections.
Btcusdneutral
BTCUSD-NEUTRAL downside biasI am not committing to any crypto. The idea of it being a safe heaven conflicts with what it is.
The reason it is up here, that stories are stating that Russia has invested in it to safeguard themselves. Maybe true so let's see.
For now I feel the strategy is SELL current for a move back to $ 32,500. the stochastic is high up and RSI is high, but not extreme though. I feel more confident being short then long to be honest. The supp0rt is $ 42,500 right now.
BTCUSD-NEUTRAL We got a rounded top forming, and neckline around $ 41,500. It feels we may see much lower again, perhaps $ 32,000 again, but for now prefer neutral stance and watch it. After all, we were short before and took back, and now sit back.
Once I feel it makes sense will make a new update.
BTCUSD-NEUTRAL likely going higherUp to now am not committed to a view to trade. The issue is the wide ranges, and also the deep pockets needed associated with creating profitable trades.
Currently we are break above $ 43,900 weekly chart cloud resistance, and this may ignite further buying towards $ 50,000. Once we are reaching those levels I would start feeling confident in selling it again.
The $ 42,500 - 43,500 suggestion to sell was for those venturing, and as mentioned I was not one of them expressing only my opinion. The market is lack of liquidity and not much volume may cause it to swing either way. Even when it starts looking positive, as it is now, it may turn again due to liquidations.
The medium-term picture is rather SELL much higher and an eventual move to $ 5,000 ($ 10,000) area, which most people will not agree being possible. Anyway, it is a technical forecast and anything can happen in the real world.
BTCUSD-Neutral buy at lower levelsI ave liquidated at $ 36,300 and will re-establish lower buy between $ 33,500-34,500 once again.
Right now, we have climbed back nicely and it had the benefit sought for.
The stochastic is positive and still feel we may have a run up higher, but the $ 3,000 up move from the lows is enough for now in terms of corrective action.
will update once I see further developments.
Bitcoin into this bearish flag; How to trade this charist?So, in this analysis, we see in H4 that Bitcoin it's still in range, but maybe we could see any manipulation zone that we can't to entry in short position. Beware of the market trap and hunters manipulation if you short Bitcoin, until Bitcoin doesn't break down the $17,900 USD, I can't to shorting Bitcoin, but in that case if Bitcoin make successful to break down the $17,900 USD. We can to trade it. At the moment, the market is lateral, and to trade it, we would need to know how the manipulation occur.
So, the most important it's to take any plan to be prepared, so, I following the trend on Bitcoin and it's bullish. So, in case that Bitcoin break up the $19,500 USD approximately, we can to entry in long position in that position.
So, the most inteligent it's to awaiting that Bitcoin goes to the $17,900 USD to open up a long position or still consolidate in this range!!!
Bitcoin still neutral into this simetric triangle; but like bearSo, I consider that Bitcoin is in the volatile and warning zone that Bitcoin still it above of $13,000 USD.
But, if you're not prepare, we would need to see in weekly timeframe and right now, we see in the highly zone that obviously we would need to make a correction toward the $12,400 USD as I say you. Once that Bitcoin it's going with the parabolic up, Bitcoin would need a descense of the price to steady between the supply and demand!!!
I do not trade Bitcoin until I see a movement, so Bitcoin is neutral!!!. But in weekly, I hope that pass it in my model of my chart.
We could see a possible correction, in Daily we see a bearsh candlestick and the yesterday, the candlestick closed up with a indecision form. That could be a possible correction, also that in 2 ocassion we see a drop!!!
BTCUSD First option !ANALYTICS
Bitcoin billionaire Zhao Dong predicts stagnation around $ 4,000 and $ 6,000
The famous Chinese bitcoin billionaire and trader Zhao Dong shared with Weibo his thoughts on the current state of the crypto market. Zhao is sure that the bear market has not ended, and that the recent Bitcoin rally does not say anything.
According to Zhao, bitcoin is likely to trade in a relatively narrow range, between $ 4,000 and $ 6,000 for several months, although many view this as a “take-off” for the main cryptocurrency. He predicts that there will hardly be low minimums, and that the market will remain unchanged for six months, although recovery may begin in October. It is not the first time when Zhao declares that cryptographic games will be relatively calm, and that almost all of 2019 will be like “cryptozyme.”
It is also noteworthy that Zhao Dong predicts a “crypto-summer” in 2021, when, according to him, Bitcoin will rise to $ 50,000.
BTCUSD BTCUSD
- BTCUSD broke down in a failed setup, buy orders were not triggered
- Had a small hedge short that was triggered when structure was invalidated but sold at 7k
- BTCUSD could now trade within the range of a previous funnel
- hopefully will lead to another setup with a probable bear bias
All in all, reiterates to me the importance of getting into trades using pre set orders as last few setups have gone against me but no money lost because of it.
The hedge against BTC on the other hand, was more of a gamble on that if the setup failed 7k would be a likely target.
BTC will go to 10K or 6.4K !! Current Price 8350In times like now there is no indication the market is up or down. " I can expect that the probability of going down is about 70% "
I will share with you another pattern that i always consider it as a very important indication for me.
this will be the second secret i share in this community.
First secret was about the killing point. You can see it in my last posts
Can you see the left Movement triangle that has just broken ?
I can expect that the right side will form the same pattern and the triangle from left will be reflected in the right side.
The problem is that, it will take the upper triangle and move up to 9.1K then 10K or will move down to 7.3K then 6.4k ?
For me i have added @ 8200 and 7950 as per my last post and i will get out @ the mentioned critical time "or before it by one or two hours"
the problem is about the common Area between the 2 triangles, you couldn't define it will go up or down until you see a specific pattern.
So after the price enter the common area we have to monitor the price behavior,
If price is going in the up triangle then we are going to 10Ks
If price is going down in the down triangle then we are going to 6.4K
the problem if the price will go from the middle zone then you couldn't know the behavior until you make another analysis, but most probably it will fluctuate between 7300 and 9120 until it breaks up or down.
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In conclusion, I will close my positions at the critical time and watch the pattern and decide the direction before and at 28/5.
Till now i'm neutral and i have to watch the price closely in next days.
Stay tuned for updates
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Questions are welcome
BTCUSD Neutral ShortNew support zone for BTCUSD @ 6800. If the support breaks, new support @ 6400 ( see ).
BTCUSD is clearly bearish but the immediate trend could go either way.
I can see a sea of whales.
Never underestimate the ability for a bear to turn into a bull and the other way around.
One wave at a time.
DON'T APPLY ANYTHING I WRITE.