Symbol - BTCUSD
Bitcoin has climbed higher in recent months on enthusiasm and demand generated by the nearly dozen spot bitcoin ETFs that were approved in January, as well as crypto's next 'halving' event and the prospect of Fed rate cuts this year.
But Fed rate cut expectations have been dialed back significantly amid hotter-than-expected inflation prints, which means central bankers look poised to keep rates higher for longer to fight inflation. Markets are now pricing in the fact that the Fed will only cut rates two times or less this year (as of now), according to the CME FedWatch tool.
BTCUSD CMP - 62,000
Bitcoin is currently trading & consolidating in a wide range of 61,000 - 72,000 levels.
Currently bitcoin is trading at lower range of this channel which is around 61,000-62,000 level.
60,000 is make or break level of Bitcoin as of now.
Bitcoin has to sustain above 60,000 - 61,000 for any further up move. On breakdown of these levels, We may see bitcoin coming back to 52,000 - 50,000 levels.
On sustaining 60,000 - 62,000 levels and moving up, we may see Bitcoin moving up to 85,000 and even 1,00,000.
For me, Sustaining and moving up/breakout scenerio is likely. So I'm taking positional long positions in BTCUSD at CMP 62,000 with SL below 60,000.
Incase BTCUSD breaking below 60,000 sustaining & closing below it. I'll close my long position & then I'll look to short it with SL above 62,000.
Bitcoin has climbed higher in recent months on enthusiasm and demand generated by the nearly dozen spot bitcoin ETFs that were approved in January, as well as crypto's next 'halving' event and the prospect of Fed rate cuts this year.
But Fed rate cut expectations have been dialed back significantly amid hotter-than-expected inflation prints, which means central bankers look poised to keep rates higher for longer to fight inflation. Markets are now pricing in the fact that the Fed will only cut rates two times or less this year (as of now), according to the CME FedWatch tool.
BTCUSD CMP - 62,000
Bitcoin is currently trading & consolidating in a wide range of 61,000 - 72,000 levels.
Currently bitcoin is trading at lower range of this channel which is around 61,000-62,000 level.
60,000 is make or break level of Bitcoin as of now.
Bitcoin has to sustain above 60,000 - 61,000 for any further up move. On breakdown of these levels, We may see bitcoin coming back to 52,000 - 50,000 levels.
On sustaining 60,000 - 62,000 levels and moving up, we may see Bitcoin moving up to 85,000 and even 1,00,000.
For me, Sustaining and moving up/breakout scenerio is likely. So I'm taking positional long positions in BTCUSD at CMP 62,000 with SL below 60,000.
Incase BTCUSD breaking below 60,000 sustaining & closing below it. I'll close my long position & then I'll look to short it with SL above 62,000.
Trade active:
Long position at 62,000 is active with SL below 60,000 as of now.
Trade active:
CMP 61900
Slipped below 60,000 today but didn't sustained & reversed immediately.
I added some more position in that reversal.
I will exit my position if it break today's low now & closing below 60k.
CMP 61900
Slipped below 60,000 today but didn't sustained & reversed immediately.
I added some more position in that reversal.
I will exit my position if it break today's low now & closing below 60k.
Trade active:
CMP 64000
Holding with CTC SL now.
Holding with CTC SL now.
Trade closed manually:
Sharp profit booking because of war news flow.
CTC SL triggered. Trade closed CTC.
I will think of shorting if war situation escalates & it sustains and closing below 60k.
CTC SL triggered. Trade closed CTC.
I will think of shorting if war situation escalates & it sustains and closing below 60k.
Comment:
CMP - 66300
Looks like Bitcoin is ready to test 69-70k levels.
Looks like Bitcoin is ready to test 69-70k levels.
Comment:
Bitcoin is perfectly realizing the situation I described in my idea.
The halving came at the moment of support retest, from which the coin has already strengthened by 11%
With 10 leverage you could earn 110%
In general, the outlook is interesting and it is worth paying attention to the level of 65500. If the bulls hold this zone, we will see 70-72k and ATH breakout very soon
The halving came at the moment of support retest, from which the coin has already strengthened by 11%
With 10 leverage you could earn 110%
In general, the outlook is interesting and it is worth paying attention to the level of 65500. If the bulls hold this zone, we will see 70-72k and ATH breakout very soon
SL triggered in morning because of Israel - Iran war news volatility & Bitcoin reversed very strongly from support levels (60-61k)