Hey, what is going on, everyone’s sunny decree here. And welcome back to an emergency bitcoin price update. The price of Bitcoin went up to pretty much exactly seven thousand eight hundred U.S. dollars got rejected so far. But some of you are going to say right now, maybe, hey, this was not even such a big deal. I mean, we’re only talking about approximately eleven percent for one day. Well, for Bitcoin, that is not all too much. But if we have a look at for how long, we have not seen such a high. We’re talking about exactly forty-two days. So Bitcoin is on its 42 days high. And I will say that is actually quite important for all the day traders out there. Let’s have a look at some different timeframes. What you can see on my chart is an ascending triangle. I know some people, some analysts have drawn different patterns here. But what’s important to me is that Bitcoin finally formed a higher high and we were waiting for that for quite a bit, actually. What we have seen already were const& higher lows and that is already a good sign. Of course, then we had a little bit of a pullback in here. But at the end of the day, we were seeing higher lows, more or less constantly. But we’ve only seen higher highs until here and then we’re going back down again. But Bitcoin finally, finally set a new higher high. And the last time we’ve seen such a price level is already 42 days ago. Yes, we have been ranging. Yes, it was very boring. And I really hope that this boredom does not continue because especially to traders out there, they’re definitely getting impatient. And I kind of feel it myself. But anyway, what we can see on the one hour chart in here, this is the same pattern, the same ascending triangle is that at the top line, at the baseline, off this ascending triangle. We see the battle going on exactly right now. So the next couple of hours are going to be very important if we can push further. That would set me personally very bullish if we fall back in here. And this just ends up as fake-out. We still have support on the bottom line in here, somewhere slightly below 7000 U.S. dollars. So we still have room to the downside in here and we could break out later in this pattern. So this is definitely not a bad sign in here. Now, some of you guys have been asking, what about my trade? I personally trade on Femm X. This is my number one exchange. If you guys are interested. There is a sign of bling down below. You guys already know that $112. Bonus if you deposit zero point two bitcoin or more to the platform, but only for experienced traders obviously. And my own true point was not based on scalping or day trading analysis. My longs are actually plays based on bigger timeframes and swing trades. And so of you guys know that I’ve been loaning this market for quite a while actually and have been very successful in this area right here. But of course, I lost money in the area, would say a startup probably right here from here I lost money. And also in this town face, but especially right here in this area when Bitcoin was touching this trendline in here or this curve line in here. I mean, you can clearly see that this is actually quite a good, long opportunity. And that is exactly what I did. So I opened my long at approximately four thousand six hundred U.S. dollars, which was in this candle right here. And that is the position I am still holding. What I’m planning for here is a position which I can take into new all-time highs. I mean, that would be the absolute goal. And the good news is that so many people have been shorting this market. So I already have a very decent realized PNL, which saves my funding rate if later on people keep going long. OK. So sometimes it is actually quite profitable to bet against the masses. Not always, obviously, but sometimes it is. To sum it up real quick. I really don’t want to waste too much of your time. Bitcoin has not seen such levels for 42 days. That is definitely very nice. Bitcoin is not just forming higher lows, but also higher highs. Very nice. Bitcoin is fighting at the top line of this ascending triangle. Even if it would draw a symmetrical triangle or whatever, the fight would be pretty much the same. Also, the support line would be the same at the bottom. And if we have a look at this weekly chart of Bitcoin is going to close in the Greens this week. That would mean six weeks in a row bullish, approaching the Bitcoin offing once again. I mean, come on, guys. I think the direction of bitcoin is quite obvious, although it is bitcoin. And at the end of the day, pullbacks on short term timeframes, they’re definitely possible. Keep that in mind and manage your risk properly. Thank you guys very much for watching. And I hope place’ll a few in the next one. Bye-bye.


Ledger Nano X - The secure hardware wallet

What do you think?


Leave a Reply

Leave a Reply