Bitcoin (BTC) will likely bounce but will test 3000 eventually.
Updated
Bitcoin has dropped to 6000 after the buy wall on Finex was removed. Right now not many people are selling after the huge amount of liquidations, while bids are increasing, so it is pretty certain we will be heading up from here. We may drop but it will probably not be to the extent of the last one.
Therefore, you may long Bitcoin. Keep in mind USDT or Tether is down 2% so exchanges who use the BTC/USDT pair will have their prices up 2%.
Buy:
6210 (Coinbase)
Stop Loss:
Close beneath 6110 (Coinbase)
Target:
6361
If Bitcoin will drop below 6000 after the bounce, it should not trade above 6550 for very long. I recommend building a portfolio of mainly short positions in crypto and the stock market.
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Therefore, you may long Bitcoin. Keep in mind USDT or Tether is down 2% so exchanges who use the BTC/USDT pair will have their prices up 2%.
Buy:
6210 (Coinbase)
Stop Loss:
Close beneath 6110 (Coinbase)
Target:
6361
If Bitcoin will drop below 6000 after the bounce, it should not trade above 6550 for very long. I recommend building a portfolio of mainly short positions in crypto and the stock market.
Thanks for viewing!
Note
Note
This looks like price action before a bart up.Note
Millions of USDT sent to finex today. Last week thousands of Btc were moved to finex hot.Note
Bullish Divergence. I would not short this right now. If you long, you will probably get stop hunted unless you place a stop loss 2-3% away from the current price, so do not use high leverage.
If you look at the Bid/Ask sum, you can see shorts dropped massively while longs increased during the dips.
The past few days asks were up much higher than bids indicating distribution. Now it may be the opposite.
I cannot predict with absolute certainty, so make sure if you long you have your stop loss in mind.
Note
I actually have a discord channel right now where I basically plan to share my open positions and stuff. If you are interested just pm me and i'll send you an invite. I won't sell anything to you, don't worry.Note
Shorts seem to be building during this consolidation area on Bitfinex while big players seem to be going long. I am more inclined to believe the next move is up, but who knows at this point.Note
Note
Price is still consolidating here. This is quite scary actually. Once enough stop clusters have formed I expect volatility to spike.Note
Finex and Binance are accumulating Bitcoin at the current price. The CVD has allowed me to predict the bitcoin drop when we were near 7k, so could be very telling.
I would like to show you but indicator is not avaliable on TV.
Note
I am in a medium sized long position with a buy near 6102. Volatility is coming so be warned.Note
This is what the indicator is showing right now. I have done my best to draw it in.
Note
Here is an example of CVD showing distribution. This occurred before the 6.5k drop aswell, but that one was tough to spot without hindsight. This one was however is very obvious.
Note
You can see as price struggles up people are selling. During the distribution phase longs were increasing like crazy as well as trades per minute, indicating smaller/mid sized retail traders were buying.Note
Here we go!
Now I do not know if we hold here or move back down, but I am still bullish short term.
Trade closed: target reached
Note
Over 100% ROE with 100k+ contracts 3x leverage.Please join my discord. I bet I woulda convinced you guys to long.
Trade closed: target reached
CLOSED FOR 1.41 BTC Profit!. Pretty hyped.Note
Trade active
New chart will be updated.
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