BTCUSDT My long position is still active, with a stop-loss placed at 106,350 — primarily to give me a chance to re-enter at a lower price if the market drops more than expected. As for the current setup, my bullish outlook remains valid as long as price does not close below 107,400 on the 4-hour timeframe. A close beneath that level would invalidate the idea of buying at the current price.
BTCUSDT Highest monthly close ever about to happen. Still very bullish on the macro. If/when rate cuts and ceasefires come into play, all the markets are going to go parabolic.
BTCUSDT is trading at $107,578.62 with a 0.05% increase. Predictions suggest potential targets range from $108,565 to $179,997 in 2025 and up to $308,966 by 2029.
BTCUSDT Bitcoin isn’t about constantly searching for channels and trying to draw them. Bitcoin is about multiple SMA lines and understanding support and resistance. At all times and across all timeframes, the key line for Bitcoin is the 200 SMA (without excluding other major indicators like double bottom or double top, MACD, RSI, etc.).
If Bitcoin stays above the 200 SMA on a certain timeframe for a long period — it usually means a drop is coming. If it’s below — it likely means a rise is coming. All depending on the market phase and timing, of course. These are the basic principles for understanding what’s about to happen and when. Other lines (14, 21, 35, 50, 100) serve as support/resistance depending on the current conditions.
Channels? Sure, they happen — especially on higher timeframes. But some people who see themselves as gurus get so obsessed with drawing and finding channels in *every* market condition that they end up with shitty RECTANGLES that can’t even survive a single day before leaking. Then they jump between timeframes trying to draw a new so-called channel to retroactively explain everything.
Turn on multiple SMA lines on your chart, switch to low timeframes, watch the movement for just a few hours — and you’ll see the patterns and logic behind it. All of this carries over to the higher timeframes too. Peace.
BTCUSDT My long position is still active, with a stop-loss placed at 106,350 — primarily to give me a chance to re-enter at a lower price if the market drops more than expected. As for the current setup, my bullish outlook remains valid as long as price does not close below 107,400 on the 4-hour timeframe. A close beneath that level would invalidate the idea of buying at the current price.
