BTC recovery starting now.

[Larry Igna]

Hahaha so true. I used to watch mmcrypto in the bear market and he was wrong too many times. He was lucky to get in a 25x trade last summer at around 9k I think and could ride this thing up until 60k and got more famous for that. I don't know if he closed then or closed recently but nobody should ever listen to him when it is about trading. You can watch him for fun or if you want to see how the sentiment is right now (bullish or bearish thinking). I am afraid as long as these moonboys are still bullish the bottom is not in yet.

Nah, he didn't close it at $60k. He closed it partially at $47k and the last part at $41k. Somewhere around these numbers, I have stumbled upon him in that period and kept watching (more like listening) for the funny accent and same as you, for the sentiment.

 

[Rachmaninoff]

Only a move >50 DMA ($34,500) will confirm the long term uptrend. Otherwise btc could test $25k sooner or later.

 

[crnack]

I buy ltc and wait 100 years. Cant fuck around.

 

[Biodgony]

Yes, also see the latest notification from Elon...

 

[Ikarus2019]

Ich habe für September einen massiven Kreditspread bei RIOT eröffnet, wenn er über 50 USD erreicht, verdiene ich 10.000 USD mit einer Investition von 400 USD. Geöffnet, als das elon/dorsey/woods Interview veröffentlicht wurde XD

kannst du bitte mehr dazu schreiben

 

[Gramified]

Every small gain is called recovery now lmao

 

[Nash Commerce]

Up like 12% on my trade.
The pattern I marked out is an inverse head and shoulders that is an indication of more buyers coming into the market and the people that wanted to sell have sold.

I really don’t think this bull run is done.

 

[Larry Igna]

I'm not saying it's a bad trade at all, I also expect the bullrun to resume. I just don't see the inverse head and shoulders there. Maybe a double bottom or range breakout.. Here's the 5min chart for that period.
However, seeing the past data (obviously not looking at what happened after) there were many fake range breakouts and invalid double bottoms.
I still don't understand what made people bullish this time around.

 

[Nash Commerce]

I'm not saying it's a bad trade at all, I also expect the bullrun to resume. I just don't see the inverse head and shoulders there. Maybe a double bottom or range breakout.. Here's the 5min chart for that period.
However, seeing the past data (obviously not looking at what happened after) there were many fake range breakouts and invalid double bottoms.
I still don't understand what made people bullish this time around.
View attachment 180081

those 3 orange points I drew show ainverse head and shoulders / triple bottom.

Accumulation is happening, bitcoins been at a 60% off sale and people realize their cash can’t sit on the sidelines while inflation fucks them hard.

Stock market has yet to dip for a buy in, home prices are through the roof, silver and gold isn’t as attractive to people anymore. People are starting to look at Bitcoin as a real investment opportunity even people that don’t like it are looking at it purely as a hedge to make up 5-7% of their portfolio.

Their really isn’t any other assets people can invest into that would make much sense.

 

[necemter]

Umm.. let's hope you are right.

It is currently at $33k

 

[akki1212]

Is technical analysis the way to go with cryptocurrencies at this point though? If there were only market forces at play, I'd gladly do TA all day, but with all this manipulation and unjustified influence by a few big players, I don't think you can really tell.

 

[sunil0021]

It is currently at $33k

It will stay here for a while i guess because instant increase is not going to happen anytime soon, the increment speed will be similar to decrement. But it's just my guess.

 

[julianl]

Is technical analysis the way to go with cryptocurrencies at this point though? If there were only market forces at play, I'd gladly do TA all day, but with all this manipulation and unjustified influence by a few big players, I don't think you can really tell.

at the moment I would only suggest to trade support and resistance levels. At support you long, SL below the swing low and at resistance you short, SL above swing high. Don't look at triangles, wedges, whatever you find on influencer channels. We are at some resistance right now but it is weekend so at this point anything can happen.

 

[necemter]

It will stay here for a while i guess because instant increase is not going to happen anytime soon, the increment speed will be similar to decrement. But it's just my guess.

I think you could be right, but lets see what happens

 

[Nash Commerce]

at the moment I would only suggest to trade support and resistance levels. At support you long, SL below the swing low and at resistance you short, SL above swing high. Don't look at triangles, wedges, whatever you find on influencer channels. We are at some resistance right now but it is weekend so at this point anything can happen.

the purple lines are support and resistance. So is the white downtrend that we broke. I use those as my foundation. It’s like baking a cake.
You want as many indicators showing potential upside as possible.

 

[alus1onZ]

the purple lines are support and resistance. So is the white downtrend that we broke. I use those as my foundation. It’s like baking a cake.
You want as many indicators showing potential upside as possible.

It's funny how you people draw lines and call them "support" and "resistance". What are they supporting or resisting? Who supports them? How do you decide that specific low or high is the resistance or support point lol ?

This kind of shit is what the market makers use to manipulate the retail traders to believe whatever they want to believe .

There are several true support and resistance points you should pay attention to and don't bother to look at others. They are:

- The pivot points
- Middles of the pivot points
- The daily and the weekly open
- Asian session low, high and middle
- 50EMA, 200EMA, 800EMA (at 15m, 1h, 4h and 1d timeframes)

Just my 2 SATs

 

[Nash Commerce]

It's funny how you people draw lines and call them "support" and "resistance". What are they supporting or resisting? Who supports them? How do you decide that specific low or high is the resistance or support point lol ?

This kind of shit is what the market makers use to manipulate the retail traders to believe whatever they want to believe .

There are several true support and resistance points you should pay attention to and don't bother to look at others. They are:

- The pivot points
- Middles of the pivot points
- The daily and the weekly open
- Asian session low, high and middle
- 50EMA, 200EMA, 800EMA (at 15m, 1h, 4h and 1d timeframes)

Just my 2 SATs

I’ve scalped this entire move from 40k down to $28k and back up now. Literally top to bottom, exactly...

The price actions indicates buying pressure and selling pressure.

It shows that at certain levels buyers are beginning to step back in the market.

it’s never guaranteed, but its a great tool to use.

you’re talking like you’re not a “retail trader”. I was buying ETH at $300, and have 15 plus huge winning trades documented here on bhw that I post to help others out.

this was a post FOR FREE to help others make money. If you copied this trade I made you’ve made like 15% on your money so far WITHOUT LEVERAGE. I haven’t given out a single trade here that has been wrong.

I also use moving averages. Never even heard of a “pivot” you probably mean a reversal, or a bounce.

check my posts. Thanks for your negative input anyway.

 

[V]

Fingers crossed, don't want to jinx it as of yet. I hope it recovers soon.

 

[HunterLife]

Fingers crossed, don't want to jinx it as of yet. I hope it recovers soon.

it will recover but need Good Volume to Push up & If we close above $35000 this Weekand with Good Volume then can Expect something bullish only

 

[V]

it will recover but need Good Volume to Push up & If we close above $35000 this Weekand with Good Volume then can Expect something bullish only

I know it will recover, but I don't believe in TA anymore.