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Bitcoin trading calls

  • #1,661
  • Jun 25, 8:12am (8 hr ago) Jun 25, 8:12am (8 hr ago)
Quoting Toboso01
{quote} Hi Olu, On the Daily, we're basically trading at the starting point of a range. If the market breaks the LL, it triggers a bearish impulsive continuation. But if bulls defend this area and break the HH, it could easily turn into a structural W-formation. We are in a clear tug-of-war between buyers and sellers. Because we're stuck in this tight congestion zone, scalping level-to-level is definitely the safest play until BTC breaks out. I really dislike these sideways conditions—when the market is this undecided, it just prints too many traps...
Thanks Toboso01
I feel bitcoin wants to go down
Market has retreated from the 61.8k level.
The path of lease resistance is down.
Watching to short...
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If you think you can or cannot do it you are correct
  • #1,662
  • Jun 25, 8:28am (8 hr ago) Jun 25, 8:28am (8 hr ago)
Quoting Olu
{quote} Thanks Toboso01 I feel bitcoin wants to go down Market has retreated from the 61.8k level. The path of lease resistance is down. Watching to short... {image}
agree, I'm also leaning toward the bearish side. My main concern right now is $60,700. That level had the strength to hold the market back around April 2024, and then rejected it again in February of this year. Bears are going to need a massive influx of volume to break below it cleanly.
What they will likely do right now is test this level. Buyers could easily use this floor to trap sellers before triggering an ultimate move up, so definitely be careful. If I get the right confirmation, I'll probably enter a short position too, targeting the LL initially.
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  • #1,663
  • Jun 25, 8:29am (8 hr ago) Jun 25, 8:29am (8 hr ago)
Gone short here based on my bearish idea.
Smaller lot.
Assessing for breaking the 60630 level where I would add to current position if current position is still alive
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If you think you can or cannot do it you are correct
  • #1,664
  • Jun 25, 8:37am (8 hr ago) Jun 25, 8:37am (8 hr ago)
Quoting Olu
Gone short here based on my bearish idea. Smaller lot. Assessing for breaking the 60630 level where I would add to current position if current position is still alive {image}
Yep, the bears are pushing down.
  • #1,665
  • Jun 25, 8:44am (8 hr ago) Jun 25, 8:44am (8 hr ago)
Quoting Toboso01
{quote} Yep, the bears are pushing down.
Check out NAS100 price action as well
If you think you can or cannot do it you are correct
  • #1,666
  • Jun 25, 8:49am (7 hr ago) Jun 25, 8:49am (7 hr ago)
EW to the rescue.
If I closed here the overnight loss is more than recovered and then some.
Look at that straight down candle!
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If you think you can or cannot do it you are correct
  • #1,667
  • Jun 25, 8:49am (7 hr ago) Jun 25, 8:49am (7 hr ago)
Quoting Olu
{quote} Check out NAS100 price action as well
Yep, the news release favored the bears. That spike and rejection at 8:30 AM was the clear signal—it injected the exact volume needed to break down. Cheers!
  • #1,668
  • Jun 25, 8:50am (7 hr ago) Jun 25, 8:50am (7 hr ago)
Price is just shy of yesterday's lows
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If you think you can or cannot do it you are correct
  • #1,669
  • Jun 25, 8:55am (7 hr ago) Jun 25, 8:55am (7 hr ago)
Absolutely new lows!!!
EDIT:
Stops tightened to below the old lows
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If you think you can or cannot do it you are correct
  • #1,670
  • Jun 25, 8:56am (7 hr ago) Jun 25, 8:56am (7 hr ago)
Quoting Olu
Absolutely new lows!!! {image}
wow
I won't give up.
  • #1,671
  • Jun 25, 8:58am (7 hr ago) Jun 25, 8:58am (7 hr ago)
Quoting MaGiix
{quote} wow
Absolutely wow MaGiix and it is still going.
If you think you can or cannot do it you are correct
  • #1,672
  • Jun 25, 9:01am (7 hr ago) Jun 25, 9:01am (7 hr ago)
Quoting Olu
{quote} Absolutely wow MaGiix and it is still going.
It's crazy what's happening.
I won't give up.
  • #1,673
  • Jun 25, 9:02am (7 hr ago) Jun 25, 9:02am (7 hr ago)
Now I have a 0.5% trading day target from my prop firm which is the reason I am tightening the SL to make sure that even if there is a retracement it would still qualify.
If you think you can or cannot do it you are correct
  • #1,674
  • Jun 25, 9:06am (7 hr ago) Jun 25, 9:06am (7 hr ago)
Quoting Olu
Now I have a 0.5% trading day target from my prop firm which is the reason I am tightening the SL to make sure that even if there is a retracement it would still qualify.
+0.5% per day minimum?
I won't give up.
  • #1,675
  • Jun 25, 9:07am (7 hr ago) Jun 25, 9:07am (7 hr ago)
The blood letting might be over. NAS100 is recovering.
And so is bitcoin.
This might be the end of our wave 5
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If you think you can or cannot do it you are correct
  • #1,676
  • Jun 25, 9:25am (7 hr ago) Jun 25, 9:25am (7 hr ago)
Quoting MaGiix
{quote} +0.5% per day minimum?
Yes. For the qualifying days. It does not have to be a single trade though just the total over the 'day' minus the swaps and the comissions
If you think you can or cannot do it you are correct
  • #1,677
  • Jun 25, 9:33am (7 hr ago) Jun 25, 9:33am (7 hr ago)
If the day closes below $59,148, there is a strong chance that the bears will clear the path down to around $56,000.
  • #1,678
  • Jun 25, 9:36am (7 hr ago) Jun 25, 9:36am (7 hr ago)
Just another idea
Like yesterday we had a thrust down in a wave 3 of 5 -ish move followed by a 3 wave retracement and now another thrust down
I have added the fibs to the chart to show that price has retraced 38.2% of the move down in what I am identifying as a wave 3 of the 'final' wave 5
If I am right here then price should sell off again to a lower low.
Please note:
I will not be testing/trading this as I want to protect my 0.5% award.
But once the day has 'changed' if the idea still remains I will go for it.
Talk about trade constraints right?
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If you think you can or cannot do it you are correct
  • #1,679
  • Jun 25, 10:31am (6 hr ago) Jun 25, 10:31am (6 hr ago)
any thoughts on 54-55k btc
  • #1,680
  • Jun 25, 11:02am (5 hr ago) Jun 25, 11:02am (5 hr ago)
Quoting lunrr
any thoughts on 54-55k btc
Easily achievable imo.
59k is playing area now so going to 55k or thereabouts should not be an issue
I have seen calls for as low as 35k online with traders justifying the figures with TA.
So somewhere in there is the true low which can only be recognised in hind sight
If you think you can or cannot do it you are correct
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