This week is crucial, especially with the FOMC meeting scheduled for the following week.
With US jobs data coming out on Friday, which has historically been a significant catalyst for Bitcoin and the broader market, it's important to watch closely.
Now that Bitcoin has reclaimed a key level on the chart, I believe this could be the low and it's time to act.
We haven't seen a deviation play in Bitcoin for a while, and this setup seems like a prime opportunity. If it doesn’t work out, be prepared for a potential drop to $53k or possibly several months of pain.
I'm taking a long position on this price reclaim, as the situation is starting to look a bit more positive.
Below 53k = Shorting towards 32k
With US jobs data coming out on Friday, which has historically been a significant catalyst for Bitcoin and the broader market, it's important to watch closely.
Now that Bitcoin has reclaimed a key level on the chart, I believe this could be the low and it's time to act.
We haven't seen a deviation play in Bitcoin for a while, and this setup seems like a prime opportunity. If it doesn’t work out, be prepared for a potential drop to $53k or possibly several months of pain.
I'm taking a long position on this price reclaim, as the situation is starting to look a bit more positive.
Below 53k = Shorting towards 32k
Trade closed: stop reached
If things remain on the bullish side, we shouldn’t see a close below $53k before the end of the next two weeks.The outlook seems more challenging right now, but as the saying goes, the easiest buys don’t necessarily lead to the greatest gains. On the contrary, difficult buys often lead to generational wealth.
I’m taking the loss here and waiting for further price action.
In the worst-case scenario, I might miss the bottom if this is the low and end up buying higher on confirmation. Alternatively, I could avoid a loss if the price drops significantly from here
Note
It’s now or never...This week is all about: Just watch and wait for the close!
Let’s go #Bitcoin! Have to be prepared for the darkside 🤡
Note
BITCOIN is at a critical juncture. We could either witness a substantial price rally from this point onward. Or
see it drop towards $44k as an initial target.
The weekly outlook closed somewhat positive, so there’s still potential for an upward turn.
Let’s keep an eye on how things develop.
Note
Beauty$53.5k has acted as crucial support, holding the most important level.
We’re now back in the breakdown area. For any sign of strength, it needs to reclaim this level.
Be prepared—if it gets rejected, this could present a good short opportunity!
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.