#Bitcoin down nearly 3% today and #crypto getting hammered. This is when the #Nasdaq is up over 2%. This shows how weak the crypto market remains and is why I still have a bearish outlook. If it does keep dropping, $59500 is support and if that breaks, the orange line is next. I do think this will come down to the mid 50k region before it finds a bottom BUT even though I am bearish, at these levels, new shorts are very risky. The whole crypto market is so negative that a massive short squeeze can happen at any point. I have closed my #altcoin longs and I do have some SMALL short positions. But these have tight stops as I am very concious of my comments above. Ultimately, whilst I am short, I am looking for the bigger bottom to start moving into some BIG longs. But we aren't there just yet. $BTC #trading
#Bitcoin up slightly now for the day and trying to hold the $65.5k level. Above that and I am short term bullish. Below, and I am bearish. $BTC #crypto #altcoins #trading #investing
#Bitcoin up nearly 2% today and will almost certainly close above the 65.5k level I have talked about recently. This is a sign of strength and puts it back in the value area of the recent range. It is still under the POC so has more work to do, but probabilities are starting to shift in favour of a bigger move up towards 74k or 77k. I'm not in a trade here, but if it forms a bull flag or retrace to 65.5k, I will be tempted. $BTC #crypto #altcoins #trading #investing NOTE: As mentioned the other day, I am in long trades on other cryptos.
#Bitcoin is up 2% today but no real change in the chart. It is trading within the orange wedge pattern and I am watching that for a break out and a clue as to which way it goes next. This is a bear flag pattern so I slightly favour a break down to make new lows but as it is just above major support, it's not a trade for now. If it can break up, I would look for a regain of $65500 for a sign of strength and then I would consider going long. BUT, I have to take into account the #stockmarket which is looking on the edge of a major breakdown. $BTC #crypto #altcoins #trading
#Bitcoin is flat today so there is no real change on the chart. I am still in a long but still remain cautious. I posted a long explanation of my trade, how I see it developing and how I am managing it the other day. Nothing has changed so here is the link if its of interest; https://x.com/icooperTrades/status/2063594389134250303?s=20 $BTC #crypto #altcoins