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Bitcoin trading calls

  • #1,901
  • Jul 6, 11:09am (4 hr ago) Jul 6, 11:09am (4 hr ago)
Quoting Toboso01
This current movement was due to the news release. {image}
Thanks for that Toboso01,
Price action is about to blow my trade idea out of the water and send me scurrying back to the drawing board.
EW does allow for the idea to still be in play as long as the recent high is not taken out.
There is something also called an expanded flat which still works even if the recent high is taken out.
Between us though I only do clean and simple EW.
And this move, if it takes out the high, will cause me to bin the idea in totality.
Now breaking above the recent high is a whole new bullish ball game and the same high target could still be in play.
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If you think you can or cannot do it you are correct
  • #1,902
  • Jul 6, 12:29pm (3 hr ago) Jul 6, 12:29pm (3 hr ago)
Quoting Olu
{quote} Thanks for that Toboso01, Price action is about to blow my trade idea out of the water and send me scurrying back to the drawing board. EW does allow for the idea to still be in play as long as the recent high is not taken out. There is something also called an expanded flat which still works even if the recent high is taken out. Between us though I only do clean and simple EW. And this move, if it takes out the high, will cause me to bin the idea in totality. Now breaking above the recent high is a whole new bullish ball game and the same...
That's the way, Olu! Nothing is written in stone in this market, and we always have to adapt. I agree with you—it could absolutely be an expanded flat.
Something I always like to overlay onto my technical and price action analysis is volume, mainly because it serves as an excellent filter for distinguishing false breakouts from real ones. If there is volume backing the move, it has real institutional power. Let's see how this unfolds!
  • #1,903
  • Jul 6, 12:57pm (3 hr ago) Jul 6, 12:57pm (3 hr ago)
Quoting Toboso01
Daily Battle Plan BTC is currently in a bullish expansion and undergoing healthy consolidation. Right now, we are seeing a brief pause, but the Daily candle indicates a solid bullish recovery despite BTC facing minor rejection at 61,900. As we kick off the first week of July, bulls successfully rejected the Weekly Open (WO) and are now holding firm above the Weekly Pivot (WP). Daily Objectives * Bulls: The main goal is to reclaim 61,900 to clear a path toward 63,200 (Previous Week Open - PWO), defending it to secure a weekly close that engulfs the...
BTC Intraday Update: Trend Reversal & Reclaiming the Open
The market has completely reversed the flush, and the higher-timeframe buyers are reasserting dominance. The market is clearly accepting higher prices.
Timeframe Analysis:
*4H Chart: Buyers have successfully reclaimed the DP + DO cluster, closing cleanly above the previous rejection area. After rejecting the Weekly Open (WO), the market is now waiting for a decisive close above the DO/WO zone.
*1H Chart: Structure has shifted back to printing Higher Highs and Higher Lows (HH/HL). The descending trendline was broken on the recovery leg with excellent volume validation.
Technical Indicators (1H):
*MACD: Expanding beautifully to the upside.
*DMI: +DI (Blue) has crossed back above -DI and is actively increasing above the 25 threshold, confirming a strengthening bullish trend.
My Long Criteria: I want to see a minor consolidation/flag form here, followed by a clear bullish confirmation signal (a strong engulfing candle or a pronounced lower rejection wick). To lock this in, the bulls must firmly defend the DO + DP floor and cleanly reclaim $63,900.
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  • #1,904
  • Jul 6, 1:19pm (2 hr 41 min ago) Jul 6, 1:19pm (2 hr 41 min ago)
Took a small scalp-like short. @63669 stop 200 points above the highs initially
But if price takes out the highs I am out.
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If you think you can or cannot do it you are correct
  • #1,905
  • Last Post: Jul 6, 1:56pm (2 hr 4 min ago) Jul 6, 1:56pm (2 hr 4 min ago)
Quoting Olu
Took a small scalp-like short. @63669 stop 200 points above the highs initially But if price takes out the highs I am out. {image}
I think that short could definitely work here, Olu. 63,900–64,200 is a confluence zone with heavy S/R. Price will likely consolidate in this area and probably retest 63,000–62,800 to build a proper base before the next major upward move. Safe trading!
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