Bitcoin - it isn't over! Long now for bull run continuation!
Updated
Hi all.
As my followers know, I am building a Bitcoin long position to participate in the final rally into the end of 2024 and 2025 possibly.
With terrible sentiment and panic selling happening last 2-3 days, most people don't realize the sentiment on general markets.
Facts:
- SP500 breaking new ATH and pumping (on chart),
- DXY is weak,
- 66% chances for rate cut in September,
- Mt Gox and German gov selling is a black swan event - and market will absorb this selloff quickly.
Any long position between 48k to 60k is safe to ride the next rally to 87k and above.
I am planning to hold this long till 110-120k area.
As my followers know, I am building a Bitcoin long position to participate in the final rally into the end of 2024 and 2025 possibly.
With terrible sentiment and panic selling happening last 2-3 days, most people don't realize the sentiment on general markets.
Facts:
- SP500 breaking new ATH and pumping (on chart),
- DXY is weak,
- 66% chances for rate cut in September,
- Mt Gox and German gov selling is a black swan event - and market will absorb this selloff quickly.
Any long position between 48k to 60k is safe to ride the next rally to 87k and above.
I am planning to hold this long till 110-120k area.
Note
Rate cut probabilities increased to 72% for September!Note
First Positive signs:- Daily close with a wick from an area of support,
- First Asia session without a dump,
- Delta is slightly positive today.
- Incides finished the week very strong, and dollar finished weak.
Note
Great daily close yesterday and an update for you guys after a pump today:
Note
German Government sold 12k BTC today. 23.7k left out of 50k initially in their wallet. Link to idea:
Note
Looking good guys. We just pumped to 59400 and closed an hourly candle there. We might still retrace to the order blocks below - 57k / 56k, but the direction is clear now. Waiting for a daily candle close high.- Market is pricing in 2 rate cuts till end of the year with 96% probability.
- The German selling and Mt Gox FUD is over for now!
Note
What a pump it was, and amazing week!Today I closed all longs @ 64k, because I saw weakness signals on H1 timeframe. I am expecting a more corrective move following next couple of days. It may still go up, but feel free to fly without me boys and girls.
I will seek longs around 57-60k level again!
- Dollar is gaining strength,
- Gold is weak now,
- Second very bed and bloody day on SP500&NASDAQ
=
Too much risk for me at the moment.
It was a hell of a long!
I will update you guys whenever I am insterested in longs again!
Trade closed: target reached
Closed @ 64k temporarily.Note
Long Time guys. I actually re-entered this BTC long at 67k couple of days ago, and now it seems like not a bad idea after all, now this level seems like a support!I am looking for higher prices targets like 72k + and I need to see new ATH to keep this trade. I am pretty sure it will happen soon.
Here is my recent chart:
Note
Still, the target is MINIMUM 120K.Note
Update for you guys! Great entry now!
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