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Bitcoin trading calls

  • #1,681
  • Jun 25, 11:07am (2 hr 31 min ago) Jun 25, 11:07am (2 hr 31 min ago)
Taken out all the superfluous lines as they are not relevant for now.
The action is between 62k and 59.1k then 58k.
As Toboso01 would say bears are in control
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If you think you can or cannot do it you are correct
  • #1,682
  • Jun 25, 11:09am (2 hr 29 min ago) Jun 25, 11:09am (2 hr 29 min ago)
Quoting Toboso01
The Wednesday candle has closed, and the bears are still in control. Looking at the Daily chart (right), even with their current strength, they were unable to close below $60,700 (around the June 5 close), which previously left a large wick. This price seems to be a strong support level, as no daily candle has been able to close below it yet. The Wednesday candle managed to test the lows but ultimately closed back above $60,700. Daily Objectives: * Bulls: The goal for the bulls is to engulf yesterday’s candle (wednesday) and close above $62,700...
Today's Post-Analysis & Review
* Long Setup (Invalidated): Needed a clean break and structural hold above the DP. It never confirmed due to the lack of a retest, printing only a weak rejection.
* Short Setup (Missed Entry): My main bias. I wanted a 1H candle close below 60,700, followed by a retest and rejection. The 8:30 AM news changed the sequence by spiking straight above the DP first; the aggressive wick rejection right at that key level was the ultimate signal. I missed the execution, but the read was spot on.
* Results: Both targets smashed perfectly (TP1: 60,000 / TP2: 59,148).
Key Takeaway: Rejections need context. A wick means nothing unless it happens at a critical S/R level or is fueled by high-impact macro data. As the saying goes: "When in doubt, it's better to be out." Glad to see my structural analysis and target mapping were 100% correct.
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  • #1,683
  • Jun 25, 11:10am (2 hr 28 min ago) Jun 25, 11:10am (2 hr 28 min ago)
Let's not forget ETH. Bitcoin's blood brother. The situation is the same. Bears in control. The real action is now at the 1500 level
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If you think you can or cannot do it you are correct
  • #1,684
  • Last Post: Jun 25, 12:06pm (1 hr 32 min ago) Jun 25, 12:06pm (1 hr 32 min ago)
Quoting Olu
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?...
Price is turning down again. We might have some meandering (forming a triangle retracement) but it is very likely price is going to new lows.
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If you think you can or cannot do it you are correct
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