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Gold, crude oil, natgas and the USD show some positive price action. Investors pull money out of the crypto- and equity markets and choose for safer assets.
Decent bounce for #Bitcoin. Still bearish until we manage to gain and flip some levels. A push lower seems likely. People don't want to buy risky assets now, because of the FUD in the global markets.
#Bitcoin doesn't look too nice if you'd ask me. Entering this white box and gaining it would be bullish, but seems it has a long way to go. Let's see what happens this week.
#Bitcoin lost local support for upwards continuation. A test of 38,8k, in which we create a HL seems likely here. Gaining 43,9k on a 4H timeframe would bring us to 46,6k and 52k-ish. Don't want to see a retracement go lower than 36,9k. ๐
These are the levels I'm currently watching for #Ethereum $ETH.
$3260 is still the most important resistance level. If we flip this level, I think we skip $3400 and go straight to $3650-$3800. ๐
If we reject here, we'll go to $2950 and potentially $2800 or even $2600. ๐ป
These are the levels I'm currently watching for #Bitcoin.
Breaking 44,9k and 46,6k would bring us to 51,4k. ๐
Rejecting 44,9k should bring us back to 42,6k and potentially 38,9k. ๐ป
I care more about what we did in the previous trend(s) than the one we're in right now. The local trend is usually only a reaction to the previous one. So the local trend still matters but not as much as most people think...
#trading#Bitcoin
Let's be critical and evaluate my long trade. The entry was close to perfect. My 1st TP got hit and I decided to move my SL to BE, got stopped and #Bitcoin started to run.
Lesson: Don't move the SL too soon to breakeven. Give the trade space to breath.
#Ethereum vs #Bitcoin trending down since december 2021. The 0,06 level is the only level I'm currently watching. Losing this level would break the HTF uptrend. As long as it holds there's no reason to turn bearish. ๐ป๐
#Bitcoin tested the 46k area and is now trying to create a HL. A test of 38,8k seems likely unless $BTC flips 42,8k for support again. Don't want to see this one lose 36,9k for the bullish scenario. Let's see what happens this week! ๐