Bitcoin has been bullish since the bottom at 28.8K and we have been able to take advantage of the bullish action by longing on breakout confirmation as shared in previous posts:
1. ascending triangle breakout at 32K with target at 33.5K
2. Consolidation breakout at 33.5K with target at 35.5K
And now we have another consolidation breakout with target at 37K. Im taking a speculative long here, not going in full position because my ideal entry would have been at 33-33.5K (retest of the 200MAs on the 1H timeframe). The immediate level Im paying attention to on the downside is 34.2K because this is the consolidation low. If price closes below this, I might exit for a small loss and look to re-enter at 33-33.5K.
Hi guys, this is OG back with another market update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below.
Check out my daily videos for more in-depth technical analysis and trade setups for Bitcoin, Ethereum, and Altcoins.
Why follow?
1. Community of Technical Analysts sharing analysis and trades
2. Live tracking of whale wallet movements
3. Live update of the latest important news
4. Live syncing of popular crypto tweets
5. Ebook covering how to be profitable in the cryptocurrency market
As always, I’m not a financial advisor, all information presented is for educational purposes only and not meant as financial or investment advice, do your own research, and stay safe!
1. ascending triangle breakout at 32K with target at 33.5K
2. Consolidation breakout at 33.5K with target at 35.5K
And now we have another consolidation breakout with target at 37K. Im taking a speculative long here, not going in full position because my ideal entry would have been at 33-33.5K (retest of the 200MAs on the 1H timeframe). The immediate level Im paying attention to on the downside is 34.2K because this is the consolidation low. If price closes below this, I might exit for a small loss and look to re-enter at 33-33.5K.
Hi guys, this is OG back with another market update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below.
Check out my daily videos for more in-depth technical analysis and trade setups for Bitcoin, Ethereum, and Altcoins.
Why follow?
1. Community of Technical Analysts sharing analysis and trades
2. Live tracking of whale wallet movements
3. Live update of the latest important news
4. Live syncing of popular crypto tweets
5. Ebook covering how to be profitable in the cryptocurrency market
As always, I’m not a financial advisor, all information presented is for educational purposes only and not meant as financial or investment advice, do your own research, and stay safe!
