Bitcoin (BTC): Looking For $70K (Correction) - Are We Crazy?

4 giorni fa

Now before we get into the details, bear in mind markets are in a mess, and we trade based on the current market structure.

Yes, we've been talking about this zone for quite some time and while it might not happen, we are still aiming to see a bigger drop, which realistically would reach at least $82-85K.

Why do we put $70 as our major target? Well, during those volatile times, there can happen huge wicks (like we had on ETH recently).

So, we are not yet ready to see a bullish movement for the coin and we are going to switch to a bullish view only once we see a proper breakout from current ATHs. Meanwhile, we are looking for a drop—markets are too weak, and the economy is in chaos...

Swallow Team

4 giorni fa

Nota

On a 1D timeframe, we are seeing some kind of reversal currently, which might send the price to the 102K area, where we then should see a proper move to lower zones.

Now we are not going to rush blindly to short here but we are waiting for more confirmations, which would be either a proper rejection from 102K or a breakdown + re-test of the 92K zone.

After that, we will see a proper free fall below EMAs!

3 giorni fa

Nota

Buyers are currently dominating the bitcoin, where we are going for a break of EMAs currently.

Now with such a sharp start to the week, we might see a further push to as high as 105K, where we have put down 3 possible zones of rejections that we are going to keep an eye on.

Meanwhile, let's ride and push a little bit here; ideally, we should see 105K as mentioned, but zones like 102K and 99.5K should be monitored as well!

l’altro ieri

Nota

Bitcoin surprised us all when yesterday's bullish momentum got suppressed very quickly by sellers.

Now our game plan has changed and we are looking for the price to properly touch that major support zone area of 92K, where then we will be looking and monitoring to see who will dominate the zones.

Upon seeing where volume will build up, then we will decide the next move but meanwhile we are looking for further slight downward pressure to happen before the next major move!

ieri

Nota

Yesterday we had a big volume day due to economic news, which sent the price to 92K, from where we bounced off right after a quick touch!

Now we are going to look for a touch to $200 EMA from where we expect to see a breakout and then a similar quick upward movement from where then we want to see another correction.

P.S. If we see the price fall again below 92K, where sellers secure this zone, we will see a bigger correction in the markets!

6 ore fa

Nota

The game plan remains the same; we are looking for a break of EMAs, and then we are going to look for one last push to upper zones before another correctional movement on Bitcoin.

Now as we enter the weekend's market, we might be bouncing from the 92K zone to the 100K zone and then only next week we might see more clarity.

So remember, if we break and secure support, we will short; if we break and secure EMAs, we will long.