If the price is going to accumulate in this green area, this is going to be very strong accumulation and we can easily see $9000.
But it’s still too early to establish a new trade opportunity.
I would rather like to see a deeper correction, some fake moves to $7500-7600 that will bring fear in the market while technically, it will be just a test of broken resistance.
But it’s still too early to establish a new trade opportunity.
I would rather like to see a deeper correction, some fake moves to $7500-7600 that will bring fear in the market while technically, it will be just a test of broken resistance.
I’m sorry for what’s happening in Iran because innocent people are giving their lives for political games but this is the first big proof that Bitcoin is considered as a store of value by people.
Do you see these two charts?
Of course, it’s not the same but similar price action is obvious which should make us happy because if Bitcoins challenges Gold and becomes digital Gold, the price of Bitcoin has realistic chances of reaching 6-figures!
Long Live Bitcoin!
Do you see these two charts?
Of course, it’s not the same but similar price action is obvious which should make us happy because if Bitcoins challenges Gold and becomes digital Gold, the price of Bitcoin has realistic chances of reaching 6-figures!
Long Live Bitcoin!
The retracement I was talking about while everyone turned suddenly bullish is happening right now.
As a bull, I wouldn’t like to see daily close below $7700.
The perfect scenario is wick to $7500-7600 area but the close of that daily candle has to be as higher as possible, at least above $7700.
I’m currently out of trades looking for a buy entry.
In case I get it between $7500-7600, I can easily put stop loss $100-120 lower and target previous high ($8500) which makes that a perfect risk-reward setup.
I also see bearish setup but for that, I first need bearish weekly close and then I will look for sell opportunity on lower time frames.
As a bull, I wouldn’t like to see daily close below $7700.
The perfect scenario is wick to $7500-7600 area but the close of that daily candle has to be as higher as possible, at least above $7700.
I’m currently out of trades looking for a buy entry.
In case I get it between $7500-7600, I can easily put stop loss $100-120 lower and target previous high ($8500) which makes that a perfect risk-reward setup.
I also see bearish setup but for that, I first need bearish weekly close and then I will look for sell opportunity on lower time frames.
Bitcoin had a successful test of the support area.
The first test was bought up instantly, as you can see, which is a great sign that buyers are in the market and buying pressure is strong.
As long as this area of support holds, I expect to see $8800-9000.
But also, the more times it gets tested, the weaker it becomes.
So on the second and third test, I suggest looking for buys but if it gets tested more than that, I would be very conservative.
The first test was bought up instantly, as you can see, which is a great sign that buyers are in the market and buying pressure is strong.
As long as this area of support holds, I expect to see $8800-9000.
But also, the more times it gets tested, the weaker it becomes.
So on the second and third test, I suggest looking for buys but if it gets tested more than that, I would be very conservative.
Weekly close is coming that’s going to set up a direction for the week ahead of us.
So far, it looks good.
Close above blue area and it’s going to be even better.
In that case, the first targets are at $8700-8800 area.
The main target area is $9600.
But the move up I’m talking about doesn’t have to happen next week.
Even if we consolidate above broken resistance for a week or two, the upside targets are still active.
So far, it looks good.
Close above blue area and it’s going to be even better.
In that case, the first targets are at $8700-8800 area.
The main target area is $9600.
But the move up I’m talking about doesn’t have to happen next week.
Even if we consolidate above broken resistance for a week or two, the upside targets are still active.
Fundamentally,
Bitcoin is also bullish.
The main cause at the moment that drives price is the situation in Iran.
At the end of the previous week in the commodity market, the situation was pretty fine after both sides (USA and Iran) said that they won't continue attacks and that there will be new attacks only in self-defense.
That's why Gold had some downward momentum.
But, on weekends, we got confirmation by the Iranian forces that they crashed a Ukrainian plane and killed more than 170 innocent people, which resulted in political protests across the globe.
Even people in Iran went out to the streets to state their opinion against that act.
If you don't know, it wasn't on purpose but it's still a terrific accident that will make the current situation even worse.
Some analysts say that this is the biggest crisis in that part of the world since 1979.
All this is expected to spark new Gold buyers which, based on previous days, should bring new buyers interested in Bitcoin as well.
Bitcoin is also bullish.
The main cause at the moment that drives price is the situation in Iran.
At the end of the previous week in the commodity market, the situation was pretty fine after both sides (USA and Iran) said that they won't continue attacks and that there will be new attacks only in self-defense.
That's why Gold had some downward momentum.
But, on weekends, we got confirmation by the Iranian forces that they crashed a Ukrainian plane and killed more than 170 innocent people, which resulted in political protests across the globe.
Even people in Iran went out to the streets to state their opinion against that act.
If you don't know, it wasn't on purpose but it's still a terrific accident that will make the current situation even worse.
Some analysts say that this is the biggest crisis in that part of the world since 1979.
All this is expected to spark new Gold buyers which, based on previous days, should bring new buyers interested in Bitcoin as well.
Crypto Signals via @vote
What’s your target for Bitcoin?
anonymous poll
$10500+ – 115
👍👍👍👍👍👍👍 30%
$9600 – 108
👍👍👍👍👍👍👍 28%
$8800 – 68
👍👍👍👍 17%
<$6500 – 64
👍👍👍👍 16%
$7500 – 34
👍👍 9%
👥 389 people voted so far.
anonymous poll
$10500+ – 115
👍👍👍👍👍👍👍 30%
$9600 – 108
👍👍👍👍👍👍👍 28%
$8800 – 68
👍👍👍👍 17%
<$6500 – 64
👍👍👍👍 16%
$7500 – 34
👍👍 9%
👥 389 people voted so far.
The squeeze won’t change market conditions!
It’s main role is to get rid of long positions so the price can get more upside potential.
When there’s squeeze in the market (sudden drop), it’s going to close a big portion of long positions.
When it happens, the percentage of longs in the market drops for 20-30%, which allows a new increase that will lead to new highs of the trend.
It’s main role is to get rid of long positions so the price can get more upside potential.
When there’s squeeze in the market (sudden drop), it’s going to close a big portion of long positions.
When it happens, the percentage of longs in the market drops for 20-30%, which allows a new increase that will lead to new highs of the trend.
Just to be as transparent as I can, I’m out of my longs.
No, I’m not bearish but safe stop loss is too far and I don’t want to give big portion of my profit back!
No, I’m not bearish but safe stop loss is too far and I don’t want to give big portion of my profit back!
If you're curious where I opened my long, it was here around $8100 and that was my third long entry from the $7200.
This is the time when emotions start to kick in and when you need to stay rational, patient and focused on the next trade opportunity.
Currently, it’s madness in the market and when people start questioning what could happen if I didn’t do this or that?
Leave past behind and move on!
The only thing you can do is write that down and learn something from it.
Even if you’re bullish on Bitcoin and you’re target is $9600, the first reasonable stop loss is below yesterday’s accumulation ($8200).
So the distance to the target is $800 and the distance to stop loss is $600.
What’s the point of trading this setup where you can barely get 1:1.5 risk reward?
Stay patient, wait for weak hands to be shaken out and if we get that $300-500 move down (squeeze), you can enter at $8400 for example, put stop loss at $8200 and target $9600.
In that case, your risk reward would be an insanely 1:6.
Not only that, it will be a position you will be able to break even with confirmation very fast.
These are the setups you should focus on!
Currently, it’s madness in the market and when people start questioning what could happen if I didn’t do this or that?
Leave past behind and move on!
The only thing you can do is write that down and learn something from it.
Even if you’re bullish on Bitcoin and you’re target is $9600, the first reasonable stop loss is below yesterday’s accumulation ($8200).
So the distance to the target is $800 and the distance to stop loss is $600.
What’s the point of trading this setup where you can barely get 1:1.5 risk reward?
Stay patient, wait for weak hands to be shaken out and if we get that $300-500 move down (squeeze), you can enter at $8400 for example, put stop loss at $8200 and target $9600.
In that case, your risk reward would be an insanely 1:6.
Not only that, it will be a position you will be able to break even with confirmation very fast.
These are the setups you should focus on!
Crypto Signals
This is my forecast for days ahead of us.
This was when I got bullish.
Being bullish now is only to keep some part of the position for higher targets.
If the price goes above your target, it doesn’t make your initial setup wrong.
It means the market was even more bullish/bearish than you thought and take it as a bonus.
If you book profit at the target, be happy and don’t regret for not holding a little bit more.
Being bullish now is only to keep some part of the position for higher targets.
If the price goes above your target, it doesn’t make your initial setup wrong.
It means the market was even more bullish/bearish than you thought and take it as a bonus.
If you book profit at the target, be happy and don’t regret for not holding a little bit more.
What's going on with Bitcoin Cash (SV)?
People will be saying it went up because of this or that.
The fact is, it's very easy to find the cause for something that's already behind us.
What do we do from this point?
If you bought it and you're in profit, look for selling.
The price is at the all-time high and yes, it can go higher but also, the higher it goes, the more it will dump, so make sure to book the profit before the dump.
If you're not in a position, stay away from it because the risk exposure to this trade is huge.
People will be saying it went up because of this or that.
The fact is, it's very easy to find the cause for something that's already behind us.
What do we do from this point?
If you bought it and you're in profit, look for selling.
The price is at the all-time high and yes, it can go higher but also, the higher it goes, the more it will dump, so make sure to book the profit before the dump.
If you're not in a position, stay away from it because the risk exposure to this trade is huge.