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Bitcoin trading calls

  • #741
  • May 7, 2026 3:58pm May 7, 2026 3:58pm
Bitcoin is similar. Look at last up move compared to rest of them. Very choppy. Not a look of strength
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  • #742
  • May 7, 2026 4:06pm May 7, 2026 4:06pm
Quoting MaGiix
{quote} +1 indeed and what's more there seems to be an elephant in the room {image}
Talking about the TL below? If so, yes for sure. We're too close now. Very high probability we head there and break it
  • #743
  • May 7, 2026 4:11pm May 7, 2026 4:11pm
Break that next TL and theres another not too far away. Break that one and then another. After that we're looking at low at 65k where im sure a lot of stops are. They get triggered and could send us down to 60k where even more stops are.

At that point though the buyers might swoop in and take all that liquidity and send prices back up.

Anyways, its like a domino effect.
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  • #744
  • May 7, 2026 4:11pm May 7, 2026 4:11pm
Quoting Zappa
{quote} Talking about the TL below? If so, yes for sure. We're too close now. Very high probability we head there and break it
yes TL + the big red circle who say that a big player enter in short or sell big enough in one time
I won't give up.
  • #745
  • May 7, 2026 4:13pm May 7, 2026 4:13pm
I wont be trying to catch a falling knife though if this plays out like that. Will be out at 63k and watching. Would be nice. Hoping it actually happens
  • #746
  • May 7, 2026 4:18pm May 7, 2026 4:18pm
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  • #747
  • May 7, 2026 4:24pm May 7, 2026 4:24pm
Quoting Zappa
I wont be trying to catch a falling knife though if this plays out like that. Will be out at 63k and watching. Would be nice. Hoping it actually happens
in times like these BTC will thrive due to sometimes being correlated to oil.
The only thing i know, is the extend of my own ignorance.
  • #748
  • May 7, 2026 4:57pm May 7, 2026 4:57pm
Quoting R.Roosjen
{quote} in times like these BTC will thrive due to sometimes being correlated to oil.
that is just not true bitcoin now moves with US stock market
used to be a millionaire lost to greed
  • #749
  • May 7, 2026 5:25pm May 7, 2026 5:25pm
Quoting RichToBroke
{quote} that is just not true bitcoin now moves with US stock market
Is it not true? during geopolitical tensions and uncertainty bitcoin shows strong correlation with oil i personally have been tracking it to.
look what happened last week lol and ofcourse it also has positive correlation to NQQM etc but i think they still need to sweep the shorts at the higher levels so i expect btc to make one final push.
The only thing i know, is the extend of my own ignorance.
  • #750
  • May 7, 2026 5:28pm May 7, 2026 5:28pm
Oil is more of an inverse correlation,. Stock market is correlated.

My opinion though with basing trades on what other markets are doing, correlated or not, is that you might as well trade the other market. It not like they are perfect correlations, or inverse correlations. I used to do that with different currencies and it used to throw me off more than anything.

I will compare BTC to ETH and see if ETH is providing any clues. Like right now ETH has not made a new high since April 18th. BTC made a new high 2 times since then, with yesterday being most recent. This suggests to me underlying weakness in crypto as a whole. Not basing my whole trade on that, but just another clue.

But stock market and oil can make moves and BTC might barely go along with them, or opposite. Theres just many more clues in the actual market your trading that should far outweigh correlations with other markets in my opinion
  • #751
  • May 7, 2026 5:31pm May 7, 2026 5:31pm
Quoting RichToBroke
{quote} that is just not true bitcoin now moves with US stock market
i can even prove it to you that during these specific circumstances it does.
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The only thing i know, is the extend of my own ignorance.
  • #752
  • May 7, 2026 5:54pm May 7, 2026 5:54pm
Quoting R.Roosjen
{quote} in times like these BTC will thrive due to sometimes being correlated to oil.
But this i dont understand. Why would being correlated with oil help btc thrive (and again, seems like more of an inverse correlation if anythin). And if you are sure that oil is going up, why not just buy oil futures instead?


Here is WTI and BTC. Looks like an inverse correlation to me
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  • #753
  • May 7, 2026 6:06pm May 7, 2026 6:06pm
Quoting Zappa
{quote} But this i dont understand. Why would being correlated with oil help btc thrive (and again, seems like more of an inverse correlation if anythin). And if you are sure that oil is going up, why not just buy oil futures instead? Here is WTI and BTC. Looks like an inverse correlation to me {image}
Mainly yes they are not correlated but like i said during specific uncertainties they do correlate just read the comprehension
The only thing i know, is the extend of my own ignorance.
  • #754
  • May 8, 2026 6:03am May 8, 2026 6:03am
Just took profits. Dont like the look right now
  • #755
  • May 8, 2026 6:05am May 8, 2026 6:05am
Just went long, stop at low of day
  • #756
  • May 8, 2026 6:27am May 8, 2026 6:27am
range
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  • #757
  • May 8, 2026 6:35am May 8, 2026 6:35am
Bear move never really got any legs and was soon met with some strong buying.

I can think all I want about how far move will go, but market has to continually confirm, and this move looks done. I think we'll be back to new highs soon
  • #758
  • May 8, 2026 7:10am May 8, 2026 7:10am
yeah zappa , btcusd struggling to bullish , just waiting for strong bullish
  • #759
  • May 8, 2026 8:07am May 8, 2026 8:07am
Just closed this out early
  • #760
  • May 8, 2026 8:57am May 8, 2026 8:57am
Retracement or new downtrend? I highlighted this line earlier. And indeed a battle is going on here.
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If you think you can or cannot do it you are correct
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