Bitcoin’s last three weekly closes:
$81,100.
$84,500.
$86,500.
A lot of scary candles. Three higher finishes.
Last week’s pullback found buyers near $82.5K. That’s the area bears need to take back.
A wick below it isn’t enough. I want to see price staying below it, with lower-time-frame rallies failing to reclaim it.
Until then, a pullback alone isn’t evidence that the recovery is breaking.
For bulls, the next job is clearing $87K to $87.4K and holding above it.
Both sides have something to prove.
Let price do the proving.
Just turned 33.
Definitely a breakthrough year for me.
I've never had this much clarity in my life.
My circle is much smaller now - less noise, more truth.
Thank you, Jesus Christ, my Lord and Savior.
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“Trading is hard.”
So is working a 9–5 for 45 years and ending up with little to nothing to show for it.
You might struggle. You might have to restart five times or more.
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my average winning trade duration
is about 60 minutes
so if I'm stuck in a position for 2x longer than my average duration
I'm going to look to exit
because I don't want to hold risk in a position that isn't playing out like my average winning trade
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$ETH Sitting right at the $2.4K support and previous high.
Also still slightly below the Weekly 200MA/EMA.
But if this continues next month, I am looking for a move back to the big $2.8K level.
Any rejection here wouldn't look pretty and in that case the $2.1K support would be the first one up to watch.
Even if more buying has occurred than selling
It's still possible for price to drift down if there is a large imbalance in the limit order book
visualized ↓
I've found the hot coins on the day
are generally easier to trade breakouts compared to the other slower moving coins
can use screeners or just a standard tradingview watchlist for filtering
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An observation after being in the crypto trenches for 9 years
I've found that when trading fast spike reversals on the 1min the sooner that the structure breaks, the better my trades usually play out.
visualized ↓