Some TA and Fundamentals to keep in mind for DIP buyers
Hello all.
Today we'll be looking at some of the things i am concerned about trading the current bitcoin price action.
I have written most of my thoughts in the charts.
Some other things you should keep in mind are -
Bitcoin dominance has acted very suspicious since the dump to 20k its not giving me confidence.
Ether dominance has gone up significantly and has gained significant market share. The flippening could happen - so thats a thing y'all should keep in mind.
Short term price action on bitcoin is absolutely brutal - There are no easy levels to trade here other than 18k and 24k.
It's a big range choppy price action , and i think macro is playing bit of a role in the current btc dump.
Over all if you are bitcoin believer know how to manage your risk - We all know how brutal bitcoin dumps can be.
All the best guys - my trade idea on how to DCA for this is written in chart.
The bitcoin halving is 625 days away! That's a long time and a lot of stuff can happen during this time!
Today we'll be looking at some of the things i am concerned about trading the current bitcoin price action.
I have written most of my thoughts in the charts.
Some other things you should keep in mind are -
Bitcoin dominance has acted very suspicious since the dump to 20k its not giving me confidence.
Ether dominance has gone up significantly and has gained significant market share. The flippening could happen - so thats a thing y'all should keep in mind.
Short term price action on bitcoin is absolutely brutal - There are no easy levels to trade here other than 18k and 24k.
It's a big range choppy price action , and i think macro is playing bit of a role in the current btc dump.
Over all if you are bitcoin believer know how to manage your risk - We all know how brutal bitcoin dumps can be.
All the best guys - my trade idea on how to DCA for this is written in chart.
The bitcoin halving is 625 days away! That's a long time and a lot of stuff can happen during this time!
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Also here's a fun chart to keep in mind and why i think breaking down below 18k again is not good - see this.
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uh oh jpow don wanna print money
hang on boys this market is gonna get a lot ruffer
hang on boys this market is gonna get a lot ruffer
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jPOW about to put some reality into the markets soon.
Keep an eye on US STONK MARKETS AS WELLL
Keep an eye on US STONK MARKETS AS WELLL
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If us stonk market crashes and btc loses 18k, say goodbye to any hope for a quick recovery.
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Started reducing position size. Will hedge if btc break 18k
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reason is gbtc chart looks awful
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Left chart is current market price, And rightside 2019 bottom.
This aint it boys.
Gbtc went down 90% in previous cycle fyi
Left chart is current market price, And rightside 2019 bottom.
This aint it boys.
Gbtc went down 90% in previous cycle fyi
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getting very nervous with btc hitting that 18.8k level again and again only a matter of time before it breaks.. Not selling just yet though going to be very hard to time this hedge,
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START PRAYING that stonks don't dump in the coming weeks. You can take a long position with a very tight stop, But get out if it dumps and dont play knife catches.
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note : i am still LONG. Just very nervous long atm.
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If you are going long keep your stops a tad bit under 18k maybe. Any moves below 17k will likely be quick and cascade fast.
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And as usual risk only what you can afford to lose.
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i'd advise intraday traders to sit out of this chop action. maybe slightly long , but strict risk management.
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gbtc recovering?
gbtc recovering?
Order cancelled:
Well there goes this plan. Buckle up boys we are in for a rough ride, FTX selling to binance is not good imo- Can't predict where market goes from here.
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Get your funds out of FTX as well till this storm is over.
I am trying to get mine out of FTX and can't withdraw atm. Man i feel like an idiot trusting SBF - never expected this storm to hit so hard and so fast.
I am trying to get mine out of FTX and can't withdraw atm. Man i feel like an idiot trusting SBF - never expected this storm to hit so hard and so fast.
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Apparently FTX has severe liquidity crunch issues - Second biggest crypto exchange - First biggest exchange is apprehensive about guaranteeing customer funds - We're fucked.
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Note if you can buy BTC spot - NOT FUTURES - then buy BITCOIN.
DONT TRADE FUTURES IN THIS MARKET. I am always long BTC.
DONT TRADE FUTURES IN THIS MARKET. I am always long BTC.
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ALSO - never trust any exchange and keep your funds in your hardware wallet as much as possible.
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1 btc is always 1 btc.
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If u are a gambler - ftt seems to be a good place to be gambling atm.
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lets see if btc will hit 10k if ftx collapsing. That'd be something to watch and buy ! :O
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still buying btc at these levels. will pay off in longterm hopefully :/
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Will wait for price to reclaim 18.5k-19k area before DCA'ing again. Just waiting and watching atm breaking 18k is not good.
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To be completely honest trade is going in the exact opposite direction i want it to. Gonna wait and watch before buying any more bitcoins. Not DCA'ing and NOT in any hurry to buy any more further Bitcoins.
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If price goes back above 19k again i might start DCA again, but for now - im just gonna wait n watch. maybe buy some if price shows some signs of recovery - but not catching any knives here tbf.
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If it reclaims 18.5k i am gonna start DCAing again.
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The gbtc chart looks horrific.
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Remains to be seen whether this break below 18k is legit or just a well planned fake out.
But as long as price remains below the 18.5k-19k area i'd say bulls be cautious.
But as long as price remains below the 18.5k-19k area i'd say bulls be cautious.
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lol look athe wicks on ftx charts haha poor chaps trading there are getting rekt still.
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Check the gbtcusd charts on ftx - what a joke they are still allowing trading in that exchange.
Check the gbtcusd charts on ftx - what a joke they are still allowing trading in that exchange.
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GBTC now saying they cant show proof of reserves. lol wut.
all scammers boys.
all scammers boys.
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So yea seems like GBTC does have 50% of its claimed reserves. hmm thats good i guess?
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still gonna wait for that there 10k btc hopefully
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would be great to have a 10k btc buy opportunity again. unsure if we'll get it though,
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Maybe saylor is next? lol sounds insane thinking about it...but could it be possible? Saylor gets rekt at 3.5k.
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If btc gains another 10-15% in value i'd buy back. im not trading here
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awful market nowadays. Worst movement i have seen in years of trading Btc, this is even worse than the 2018 consolidation.
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weekly 200 sma long broken..(which has never happened in BTC history)
feeling like arthur hayes dumped his bags on us.
Things that used to work no longer work. It has become so difficult to trade.
All my edges have been stamped out from the market as it has become more efficient - i don't have much edge left trading btc nowadays.
feeling like arthur hayes dumped his bags on us.
Things that used to work no longer work. It has become so difficult to trade.
All my edges have been stamped out from the market as it has become more efficient - i don't have much edge left trading btc nowadays.
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But i will say this.
Long BITCOIN will always have a better gains than shorting Bitcoin.
I absolutely hate shorting bitcoin. The risk rewards are never worth it as bitcoin pumps will always obliterate bears.
I am always long btc - But the question is where do we DCA with price hovering at 17k.
I am watching , if bitcoin gains another 10% ie goes back above previous broken support of 18.5k - it means it was a fake down move to force weak hands out.
I am starting DCA if bitcoin gains back 18.5k again , but i need an entry trigger.
The current market movement is consolidation - I am sitting out - i have no edge left here - my TA tells me to hedge - but my instinct of always long btc means i dont want to bet against Bitcoin.
Long BITCOIN will always have a better gains than shorting Bitcoin.
I absolutely hate shorting bitcoin. The risk rewards are never worth it as bitcoin pumps will always obliterate bears.
I am always long btc - But the question is where do we DCA with price hovering at 17k.
I am watching , if bitcoin gains another 10% ie goes back above previous broken support of 18.5k - it means it was a fake down move to force weak hands out.
I am starting DCA if bitcoin gains back 18.5k again , but i need an entry trigger.
The current market movement is consolidation - I am sitting out - i have no edge left here - my TA tells me to hedge - but my instinct of always long btc means i dont want to bet against Bitcoin.
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only longer term view of btc and hoping to DCA, i aint day trading no more.
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I'm DCA' ing.
It can go further down maybe ,
but idc - I can't time the bottom on this shit.
It can go further down maybe ,
but idc - I can't time the bottom on this shit.
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This market is crazy. I like bitcoin, I dont want to short even if my TA tells to short bitcoin.
I am starting small amounts of DCA. It can go further down - but i ain't gonna try to time the bottom of these movements and i sure as hell ain't touching leverage trading.
I am starting small amounts of DCA. It can go further down - but i ain't gonna try to time the bottom of these movements and i sure as hell ain't touching leverage trading.
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Whats surprising to me is its been more than a month since FTX news broke out, And price is barely 10% from where it used despite all the chaos going on.
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Im only dcaing small quantities here as i think there is a chance bitcoin can hit 10-12k area. That'd be a great place to buy. I hope we get that price again, but you can't be too sure.
Bitcoin is already down ~78% from its previous ATH. The question is how much further down can it go? Not easy to know answer to this question sadly.
Bitcoin is already down ~78% from its previous ATH. The question is how much further down can it go? Not easy to know answer to this question sadly.
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The market movements are totally different to what we saw in 2018 bear market.
2018 bear market had a swift down move from 6k, This time we ain't seeing that shit, maybe markets changing idk. Maybe it might dump slowly - Lots of maybe's here - Very very difficult to trade - but hey if it was easy - everyone would be making money.
2018 bear market had a swift down move from 6k, This time we ain't seeing that shit, maybe markets changing idk. Maybe it might dump slowly - Lots of maybe's here - Very very difficult to trade - but hey if it was easy - everyone would be making money.
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dca some here , will dca more if btc gives me opportunity to buy at 10-12k. idk though , so happy to buy bitcoins here spot.
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Also just a headsup regarding binance.
Binance has 2x-3x more web traffic than coinbase - but bitcoin reserves are almost same b/w 2 exchanges. Be careful. Don't keep more than what you're trading in exchanges no matter how legit they appear.
Binance has 2x-3x more web traffic than coinbase - but bitcoin reserves are almost same b/w 2 exchanges. Be careful. Don't keep more than what you're trading in exchanges no matter how legit they appear.