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Bitcoin trading calls

  • #1,781
  • Jun 29, 10:17am (5 hr ago) Jun 29, 10:17am (5 hr ago)
Quoting Kunal0202
there is very strong macd divergence on days
Yes, I spotted that as well—it's definitely a good sign. Now we just need the confirmation.
I think that confirmation will come once the Daily candle engulfs the June 25th range, as BTC is currently trading inside it. Once that first goal is achieved, it should open the path toward the ultimate target: reclaiming June's Open.
To get there, the key challenges ahead are:

  1. For this week's candle to engulf last week's range (and reclaim the PWO - Previous Week's Open).
  2. Bulls need to clear the June 18th week's high, which held the market down for 5 days.
  3. Claim the last major swing high to completely clear the path to June's Open.

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  • #1,782
  • Jun 29, 10:34am (5 hr ago) Jun 29, 10:34am (5 hr ago)
i will look at it above 15 june's candle
  • #1,783
  • Jun 29, 12:28pm (3 hr ago) Jun 29, 12:28pm (3 hr ago)
Quoting Toboso01
{quote} My chart looks a little messy, but I hope you can still see the readings. Price is currently sandwiched between the SH Resistance and the (DO+DP) cluster, right inside the apex of the yellow and red triangle, and currently unable to break above the YO (Yesterday's Open) {image}
This could be a potential long opportunity. We have a clear double bottom signaling rejection, and price is currently breaking above the SH Resistance around 60,000. However, to fully confirm it, we need a clean 1H candle body close above this level. Since BTC is already trading very close to the next key resistance at 60,652, I prefer to wait for the candle confirmation and then look for a discount/retest to find a safer long entry. What are your thoughts?
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  • #1,784
  • Jun 29, 12:52pm (3 hr ago) Jun 29, 12:52pm (3 hr ago)
Quoting Toboso01
{quote} This could be a potential long opportunity. We have a clear double bottom signaling rejection, and price is currently breaking above the SH Resistance around 60,000. However, to fully confirm it, we need a clean 1H candle body close above this level. Since BTC is already trading very close to the next key resistance at 60,652, I prefer to wait for the candle confirmation and then look for a discount/retest to find a safer long entry. What are your thoughts? {image}
I agree Bitcoin has put on a good recovery off the lows.
Can I ask where the number 60652 comes from? 60705 is the false breakout level from earlier.
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If you think you can or cannot do it you are correct
  • #1,785
  • Last Post: Jun 29, 1:09pm (2 hr 44 min ago) Jun 29, 1:09pm (2 hr 44 min ago)
Quoting Olu
{quote} I agree Bitcoin has put on a good recovery off the lows. Can I ask where the number 60652 comes from? 60705 is the false breakout level from earlier. {image}
Great question, Olu. The 60,652 level is the exact 1H Swing High (highest body close/wick) from the recent local bearish impulse before we consolidated. I'm using it as a conservative liquidity target and structural resistance.
You are spot on about 60,705 being the false breakout level from earlier—they are very close to each other, so we can basically view that entire 60,652 - 60,705 area as a heavy supply cluster where bulls really need to prove themselves.
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