Bitcoin’s Wild Swings & Key Setups in Forex & Gold (#6)Bitcoin has been on a rollercoaster over the past few days, and I’m sure many of you have had your stop losses hit. Let’s break down the reasons behind this volatility and what’s next.
📊 BTC – Expanding Triangle = High Volatility
BTC was set to confirm an uptrend after breaking above $98,500, but then came the Bybit hack.
📌 What Happened?
🔻 On February 21, 2025, hackers stole $1.5 billion from Bybit’s Ethereum cold wallet.
🔻 Attributed to North Korea’s Lazarus Group, this triggered a market-wide sell-off.
🔻 BTC dropped, then settled into an expanding triangle.
📉 What’s important about this pattern?
Support & resistance levels lose significance.
Win rate drops, and volatility increases.
High probability of stop hunts & fakeouts.
🚨 My approach?
No trades inside the triangle.
Long above $97,987 (4H) or after first confirmed higher high & low.
Short below $95K (key support in 4H).
📊 DXY – Still in a Downtrend
DXY continues its price correction, as we anticipated in previous breakdowns.
📌 Bias: Still bearish in the short term unless we reclaim 107.391.
📉 Until then, I remain focused on setups favoring a weaker USD.
🟡 Gold (XAU/USD) – Strong Trend, but Watch for Weakness
Gold remains firmly in an uptrend, but some exhaustion signs are emerging.
📌 Trade Setup:
✅ Long Trigger (4H): Above 2945
❌ Stop Loss: Below 2916.42
📌 Key Reminder:
🔹 A trader’s mindset must be separate from an analyst’s mindset.
🔹 Follow your strategy, take trades, and accept stop losses without emotional bias.
🔹 I’ll be posting an in-depth article on this today.
📈 EUR/USD – Setting Up for a Major Trend Shift?
📌 Daily Timeframe:
EUR/USD has been in a strong downtrend but is now in a correction phase.
A shift in trend is possible if we get a daily close above 1.05217.
📌 4H Trade Setup:
✅ Long Entry: Above 1.05198
❌ Stop Loss: Below 1.04483
Final Thoughts
⚠ BTC is in a highly volatile phase – trade with caution.
⚠ DXY weakness favors long setups in EUR/USD and gold.
⚠ If you’re not using risk management, these setups may not be suitable for you.
⚠ Separate your trader mindset from your analyst mindset
I’m Skeptic —trade smart, stay profitable. See you tomorrow.
