Bitcoin trading calls

Setting stop to b/e and going to sleep

Just went long with stop at 77200. Target same as before at 81500

If we get the bounce here, watch for this line. 81,846 I think will just get touched

Still have order to TP and go short at 81,500.

Putting stop at 85,000 initially, but still thinking even 82,200 won't get touched. Let's see if I've done enough homework

Stopped and reversed

Stop at high of day, target 68200

I think we can get a 2.0 retracement on this move in chart.

Top looks in.

The pattern I was betting on with the long I think should not have made that first selloff we had, that was the clue I missed and will have to remember next time I see it.

Expecting big selloff now

Patterns always seem to have a variation otherwise trading would be easy. The variation always gives a clue though.

This was a new pattern I've seen in my back testing, and had not come across this variation yet. Noted

Hi all,
Just come back to check the goings on in our favourite instrument and it is not good.
The trendline has been tested and broken.
We are starting to get risk off.
By the way this might not be long term.
74k seems to be back in the frame

Intraday chart

Might head for the low at 62500. 3.0, 7.0, and 1.25 retracements just below that. Could be a dramatic drop, which is how almost all bear markets finish. Lets see. BOJ rate decision in a few hours might be the catalyst. Definitely saw some bear strength today and last night.

At 62500 all TLs would be broken. Would clear out a lot of longs, trigger some shorts, and set it up for a long term bottom.

Don't you just hate all these ups and downs?
Just as I was changing my mind and looking for an entry long the market decided to say 'nah nah nah not so easy'

Yeah, its tough, but its ALWAYS tough

I was cognizant of the TLs below, been talking about them for weeks now, but that pattern had me thinking one more pop. Ive seen about 6 of those very similar patterns and they all did the same thing....except this one (of course). I dont think any of the previous ones had that 1st drop we saw though. I would go back and try to find them, but it seems like I can never find them again. I backtest on different markets and different timeframes, should probably start saving them in a folder.

Anyways, was glad I at least got out at b/e on that 1st horrible entry I had. I took that trade based off momentum (momentum i was wrong about!), not the pattern. The pattern formed afterwards. The 2nd entry i was able to put a very tight stop on so it the SL didnt hurt too bad. Was disappointed, but quickly reversed and on to the next one.

This is the pattern if anyone's interested.

The market makes a low (first arrow) then a touch of 1.5 retracement. Stays in a range and hits the low from 1st arrow.

2nd chart...Then it makes a new high to the 2.0 retracement, but only from where I connected it from. If you connect to the bottom (the 1.5 touch) it wont hit the 2.0 retrace.

Was supposed to keep going to the 2.0 retracement, but after touching the high it had a strong selloff. That was the clue I will look for next time I see this. There is always a variation that signals the opposite is going to happen

Price is below the trend line you highlighted. If it doesn't re-gain it the outlook is bearish. But we are seeing price stair casing down on this hourly chart. The downside is firmly on the map again. The RSI is sort of looking upwards but other than for divergences this indicator will just follow what price is doing. Extreme overbought/oversold indication too

Yeah I dont see it getting back in that TL. Its been playing around with it for too long. Maybe im wrong, but I dont see that, especially with the strength of those 2 selloffs we had today

4 bounces off it and a test of the break at the end. I think its done with that line

And still a ton of TLs below to go break now. If we head to 62500, a TL from the low at 60k to a new low at 62500 would have a very low angle. Those are the kind that a market can ignore for a long time.

A lot of battles too. Good Lord!
Thats usually a signal that market is ready to turn