Bitcoin Price Analysis and Trading Update

Overview

• Big emergency looming for Bitcoin.
• Important for anyone holding Bitcoin or any cryptocurrency.
• Short, concise updates on Bitcoin's market conditions.

Bitcoin Market Analysis

• Daily Candle Analysis: Bitcoin is in a downward sloping channel.

  • Recently broke out of a seven-month downward channel.
  • Previous resistance turned into support, leading to a strong bounce.

• Weekly Candle Analysis: Potential break of a massive three-year cup and handle pattern.

  • Price target could be as high as $125,000.

Trading Insights

• Current Trades:

  • $17 million Bitcoin trade being monitored.
  • More than $9 million in profits from Bitcoin and Ethereum trades.
  • $2 million already taken as profits, mainly to cover funding fees.
  • $11 million in realized and unrealized profits.

• Trading Strategy:

  • Key levels to watch:
    • Break above $69,600 to confirm the break from the downward channel.
    • Bitcoin broke a W pattern neckline around $68,400.
    • Need follow-through and confirmation for a move to $17,000 - $17,400.
    • Further confirmation needed to validate the downward channel break.
    • Daily candle close above $69,600 with significant volume will confirm.

Potential Outcomes

• If confirmed, the price target of $125,000 could be achievable within weeks or months.

Engagement

• Encouragement to like and subscribe for more updates.
• Notifications available for new trading updates.

Closing Remarks

• Stay updated on trading actions, including profit-taking and new trades.
• Anticipate further crypto market insights in future updates.