Bitcoin Thread

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*SynergyX* said:
there is an inverted h&s in that pic if you look closely..... neckline is resistance at 7550is.

if it breaks up 7800 will be easy
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Yeah I see it. It also looks very ascending wedge-like so it's hard to tell what the next move is. We won't have to wait long though. Max another 6 hours before we spike either way. It doesn't have much more room to maneuver.
 
SaiyanZ said:
Yeah I see it. It also looks very ascending wedge-like so it's hard to tell what the next move is. We won't have to wait long though. Max another 6 hours before we spike either way. It doesn't have much more room to maneuver.
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so up or down? will it reach 8K before the weekend?
 
eg2505 said:
so up or down? will it reach 8K before the weekend?
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If you asked me 6 hours I would say 80% chance down to $7200. Now (for me) it's 60% chance down to $7200 and 40% chance up to $7800.

If we break through the upper resistance at around $7650 this will be the FOMO run up. Lots of people must have missed out on the run up from $7100 and won't want to miss this one. So that alone will help push it up afterwards. Not sure if it will reach $8000. The tops are hard to call after breaking through long term resistance.
 
SaiyanZ said:
If we break through the upper resistance at around $7650 this will be the FOMO run up.
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Waiting for a confirmed move and close above that resistance - if it does, will probably get in.

(Daily)
redone.png
 
Finally some action. There's the dump. Probably to around $7200 or lower.


W3jMvqxG
 
I'd just like to say, as CEO/CTO/CFO/Big Cheese of my imaginary bitcoin hedgefund, I didn't take a single loss last month. Not one. Even on days where some questionable scalping occurred. :D

/pats self on back

/awards imaginary bonus & noddy badge

/touch wood
 
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Knyro said:
I'd just like to say, as CEO/CTO/CFO/Big Cheese of my imaginary bitcoin hedgefund, I didn't take a single loss last month. Not one. Even on days where some questionable scalping occurred. :D

/pats self on back

/awards imaginary bonus & noddy badge

/touch wood
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Oi... this is a family show... keep your wood touching to yourself
 
So it managed to make it back into the bottom of the wedge. I've noticed a pattern that occurred before we reached the previous high. So applying the opposite to the current situation we would do something like the below for the next 4 days. Maybe a little higher and then fairly steep down to around $6800/$6900. Maybe reverse there but can't really say.

kVp6VQc4
 
It's breaking through those resistance levels slowly and is looking fairly strong for now. Will stick to my theory of it maxing out below $8k before dipping. I see a lot of people on Tradingview are now switching to long calls. Almost everyone was saying it was going to drop more when we were below $7k at the start of April.

QGfDDWH6
 
SaiyanZ said:
It's breaking through those resistance levels slowly and is looking fairly strong for now. Will stick to my theory of it maxing out below $8k before dipping.
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It would make for a nice cup & handle if it did happen. Obviously this is a super neat and maybe unlikely setup with it touching all those key points but it's still fun to consider...

i8PeQOp.png


I'm surprised that it didn't go lower. Haven't entered into a trade yet, still in cash - have some wiggle room before the price catches up to where I went into cash. I don't mind going into a slight loss to see how the price pattern plays out first. Would prefer to get some clearer confirmations on where the price is going.
 
Still don't like the look of that rising wedge after the downtrend.

*Waits...
 
I thought it might go above $7800 but it looks like it might have turned downwards already. It's now also making a bigger wedge and is sitting right on two supports. What I've noticed in the past is that when this happens, the support usually breaks. So I expect around $7400 in the next couple hours.

E3NFc4RG
 
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SaiyanZ said:
I thought it might go above $7800 but it looks like it might have turned downwards already. It's now also making a bigger wedge and is sitting right on two supports. What I've noticed in the past is that when this happens, the support usually breaks. So I expect around $7400 in the couple hours.

E3NFc4RG
Click to expand...

What is your outlook for the rest of the week and month?
 
Possibly retesting support in the $7200 region?

ss.png
 
order book is stacked fat from 7520 to 7600


all the weekends momentum gone with the wind
 
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