MrClock – Crypto Trader

BTC Update

Bitcoin is currently between a short-term downtrend line and a long-term uptrend line.

Yesterday, we saw a strong candle and a failed attempt to break the downtrend line (DTL). Now, the most likely scenario is a strong attempt to break the uptrend line (UTL). If it breaks, we could easily reach the next support around the 74,000 region, which is a former resistance and the 0.382 Fibonacci level.

https://www.tradingview.com/x/sVaBLp9M/

BTC Update

Bitcoin has shown a good recovery after the drop. As the price has surpassed 57,500, I am buying back my bitcoin positions.

A good stop point for purchases is in the 54,000 region.

For now, the concern revolves around tensions in the Middle East. There are rumors that Iran will retaliate against Iraq today, following requests to close the airspace in the region. As with the previous attack, the market may decline until the situation stabilizes.

BTC Update

The recent BTC close was very good in the 54,000 region, with the price closing securely within the channel.

The chances of this region being the area to hold the decline are increasing.

I notice that experts are divided: some think today's drop was exaggerated, while others believe it is just the beginning.

For now, I remain short until the price breaks through some important moving averages.

Current portfolio: [100% USD]

https://www.tradingview.com/x/qXL3jH5S/

Sold Everything - Buyback Zone Mapped on the Chart!

With the significant market downturn, I decided to sell the remaining bitcoins I still had at a loss (one of the worst I've ever experienced). I found it too risky to wait for a pullback given the current scenario.

The last hope is for this downward channel to hold the drop, but this is becoming increasingly unlikely. The next support level is in the 43,200 region.

We might be facing a decline similar to what happened during the pandemic, when bitcoin fell by about 60%. Therefore, we might only be at the beginning (first impulse) of this drop.

What's happening?
Strong indications of an impending recession in the US have caused a domino effect worldwide, causing all markets to fall, including stocks, gold, and cryptocurrencies. Additionally, there are tensions of war in the Middle East.

Consider that strong movements provide us with good trading opportunities. I am waiting for a favorable region to buy again when the price falls around 60% from the all-time high, which is in the US$ 30,000 region. I have marked this area on the chart. Above this region, only with strong reversal signals.

A repurchase above the current price will only be considered if the price climbs back above 58k.

Current portfolio: [100% USD]

https://www.tradingview.com/chart/BTCUSDT.P/y2t971yj-This-is-the-best-region-to-buy-back-bitcoin/

Downtrend Channel Could Lead Bitcoin to the 51k Region

Bitcoin is respecting a downtrend channel on the daily chart, which could bring the price back to the 51k region in the coming days.

I have personally sold 1/3 of my positions today.

https://www.tradingview.com/chart/BTCUSDT/cB7JM0sj-Bitcoin-51k-soon/

Current Portfolio: [66.6% Bitcoin | 33.3% USD]

60k once again being a strong and important support for BTC. It is a dividing region between an upward and downward trend.