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    Thread: #Bitcoin chart analysis

    1. #61
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      BTC sell off.png
      The sell off on Bitcoin is dramatic and yesterday it was 14k per bitcoin and now sitting at 11 and hardly I doubt it can find too much life there at this point now. However I am careful with the assumption on this one so the stop loss to this trade is now moved to 12500 so no matter what, some profits will be cashed in.
      It survived my stop loss because I had it above previous lower high and that is correct way to set it on a trending market which Bitcoin at the moment is.

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    4. #62
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      BTC bottom.png
      what do you think, is the 9k now the bottom on BTC? Surely it has extreme volatility, it moves about 50 pips each hour candle and moves 100 pips up and down through out the day. but the move to 9k today was interesting.

      BTC 4H.png
      check this 4h chart too. I think this is significant candle on 4h with that move to 9k. at least in short term, a correction to 12k is possible. However I got caught up with a small long from 10300 with too tight stop loss so I wont chase this move yet. It can be also a fake to lure buyers in before it makes another low to 8k or even lower.

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      BTC recovery.png
      right now indeed 9k is a support on Bitcoin and look how nicely it is recovering to 11800 at the moment. I think first strong test for is 12800 level, the previous important support now probably a resistance. However it can even move to 14000 before any move lower if such occur. Will see how the price behave on daily basis but now it wants to catch out sellers and make sure many buy it before it moves down again to the important 8000 level.

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      Quote Originally Posted by dzin4aans View Post
      Attachment 73584
      right now indeed 9k is a support on Bitcoin and look how nicely it is recovering to 11800 at the moment. I think first strong test for is 12800 level, the previous important support now probably a resistance. However it can even move to 14000 before any move lower if such occur. Will see how the price behave on daily basis but now it wants to catch out sellers and make sure many buy it before it moves down again to the important 8000 level.
      Bitcoin rebound since 9k, no one can know what's the next movement, but for me it will fall again to at least 8k . At this moment I have a short position 0.1 lot at 11.5 now I'm thinking to sell at least 0.5 lot but I'm really confused cuz if it rises the lose will be very big

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      Quote Originally Posted by cambiste View Post
      Bitcoin rebound since 9k, no one can know what's the next movement, but for me it will fall again to at least 8k . At this moment I have a short position 0.1 lot at 11.5 now I'm thinking to sell at least 0.5 lot but I'm really confused cuz if it rises the lose will be very big
      yeah its volatile and fast moving and definitely stop loss has to be wide to not lose money too soon.

      BTC on the move.png
      BTC is flat today and really slow before weekend. The weekend might not bring too much activity either but the many attempts especially on 1h chart to sell lower have failed and a move a bit higher is possible. Surely it is crazy to buy it against this strong move but the same happened mid December. It moved lower but then found support and started to move higher and now before further drop it has some potential to rise to 14000 level. How fast it can happen is unknown factor and whether it will but if it starts to move down now, then it is likely to go way below 9k.

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      Quote Originally Posted by dzin4aans View Post
      yeah its volatile and fast moving and definitely stop loss has to be wide to not lose money too soon.

      Attachment 73618
      BTC is flat today and really slow before weekend. The weekend might not bring too much activity either but the many attempts especially on 1h chart to sell lower have failed and a move a bit higher is possible. Surely it is crazy to buy it against this strong move but the same happened mid December. It moved lower but then found support and started to move higher and now before further drop it has some potential to rise to 14000 level. How fast it can happen is unknown factor and whether it will but if it starts to move down now, then it is likely to go way below 9k.
      I don't think that in weekend bitcoin moves slowly, sometimes there's very high volatility in weekend.
      Now I have no open position, I closed two winning short positions on btc and ltc , although btc has rebounded above 10k but the downward pressure is still valid so I can't buy it.

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