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Bitcoin trading calls

  • #1,621
  • Jun 24, 7:45am (4 hr ago) Jun 24, 7:45am (4 hr ago)
Quoting Toboso01
{quote} So, the $63,000 zone acted as a liquidity pool and proved to be strong resistance. Our 1st target was met with a strong momentum candle down to $61,870. The 1H candle now needs to close below it to clear the path for the 2nd target at $61,450. {image}
BTC is very close to my final target at $60,600. The $61,000 level was rejected three times before. I will see if bears can push it a little further; if I see the market stall here, I'll close out my positions for today.
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  • #1,622
  • Edited 8:50am Jun 24, 7:45am (4 hr ago) | Edited 8:50am
Quoting nospace022
I entered a long position at 62,727.1. I am targeting the 63,200-63-300 area, observing market reactions.
I had a good hunch about hitting 62,200 *63,200, and combined that with the sudden drop you wrote about, Olu, everything turned out to be true. Unfortunately, I didn't take any profits. At this point, I have no further insight into the future.

Good luck
  • #1,623
  • Jun 24, 8:41am (3 hr ago) Jun 24, 8:41am (3 hr ago)
Quoting Toboso01
{quote} BTC is very close to my final target at $60,600. The $61,000 level was rejected three times before. I will see if bears can push it a little further; if I see the market stall here, I'll close out my positions for today. {image}
Mission accomplished—trading plan completed for the day. Even though BTC looks to have enough strength to push lower, I'm sticking strictly to my plan. Done for today!
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  • #1,624
  • Jun 24, 8:48am (3 hr ago) Jun 24, 8:48am (3 hr ago)
Quoting nospace022
{quote} I had a good hunch about hitting 62,200, and combined that with the sudden drop you wrote about, Olu, everything turned out to be true. Unfortunately, I didn't take any profits. At this point, I have no further insight into the future. Good luck
Not to worry Nospace022. We live to fight another day.
Price did go up as you thought - where you were on an opposite direction.
I was talking about this earlier in my comments in a way bulls and bears could have made something today.
Only that the real trend is down though
If you think you can or cannot do it you are correct
  • #1,625
  • Jun 24, 9:07am (2 hr 40 min ago) Jun 24, 9:07am (2 hr 40 min ago)
I left quite a bit on the table when I closed my last short trade. Painful but I an buoyed by the recovery from near 800points drawdoown from a trade I entered yesterday. This trade went on to a nice profit.
I have put on a short again.
Not full size and not full stop size as this wave3ish move is still going strong
60.8k has gone. Price could make it to the lower line 59.11k overnight'
If this is the EW move I think it is then that low itself will go.
Now I have seen many EW interpretations of the move down from the 82k area and some are clearly fantastic to say the least.
The most conservative is that price is in a 5 wave move down and this strong move is the 3rd wave of that sequence.
Without boring you to stupor we are seeing a 1-2-3-4-5 of a final 5th wave.
It is also possible that the 3 is extending into subwaves as well i.e. 1-2-(12345)-4-5
I did put this idea up about a week ago. Please not the EW chart is pictorial only
Hope you guys have not fallen asleep on me EW is like Marmite - You either like it loads or hate it with a passion
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If you think you can or cannot do it you are correct
  • #1,626
  • Jun 24, 9:49am (1 hr 58 min ago) Jun 24, 9:49am (1 hr 58 min ago)
60k touched.
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If you think you can or cannot do it you are correct
  • #1,627
  • Last Post: Jun 24, 11:23am (25 min ago) Jun 24, 11:23am (25 min ago)
59.1k low touched. Not surprised to see a bounce off the area.
This could be the start of the wave 4. A kind of 23.6% or 32.8% of the move down could happen before a fall to new lows.
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If you think you can or cannot do it you are correct
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