Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Gachapin
on 04/11/2024, 05:44:52 UTC

Bitcoin is approaching its first crucial support level ($64,000 - $62,000) after a long-awaited breakout. My analysis indicates that if Bitcoin holds this first support level, it will make a new ATH before the new year; otherwise, the next support level is at the $45,000-$48,000 range.
I will wait for the first crucial support level and buy with a tight stop loss at $61,000. If my stop loss gets triggered, I will sell with another tight stop loss at $62,000. I have mapped the time taken by each potential breakout wave, and it seems to take longer each time, so IMO, if Bitcoin fails to hold at the first crucial support and falls back into a downward channel, it will take even more time to break out.
Let me know your thoughts on my speculation.



Quote
Trading bitcoin is a sign of lesser intellect.