Crypto trading

[mid9tclaw02]

BTC nothing changed from this morning still on support, but uncertainly since this is the last Friday of the month,we will see next week,it will be essential to see how the month closes tomorrow, but the short term scenario does not change because the price has fallen since the last three days. With a price of105k it can retest to 95k by next month.

[Odusko]

BTC nothing changed from this morning still on support, but uncertainly since this is the last Friday of the month,we will see next week,it will be essential to see how the month closes tomorrow, but the short term scenario does not change because the price has fallen since the last three days. With a price of105k it can retest to 95k by next month.

This is the wrong board for trading discussions move this thread here:
https://asktom.cf/index.php?board=8.0
Sure alot of market correction have taken place, but even for that level of correction, Bitcoin is still at a positive position considering how much have been melted out of the market, the correct price is still way high to start calling for intense speculations.

[BitMaxz]

Sure alot of market correction have taken place, but even for that level of correction, Bitcoin is still at a positive position considering how much have been melted out of the market, the correct price is still way high to start calling for intense speculations.

I don't think that's a correction. After touching the new ATH, it might be a retracement, but accept the fact that this is a bearish trend, not a correction. Look at the chart on multiple time frames and check the structure.

@OP Currently, there are no signs of reversal yet or divergence. This might be a long-term bearish or short-term trend since the EU tariff.
For now it's risky to trade for long or buy depends on us how we consider the price as cheap. People usually buy gradually if they seen red days and do DCA just to hit the deep price of BTC.

[cryptoaddictchie]

BTC nothing changed from this morning still on support, but uncertainly since this is the last Friday of the month,we will see next week,it will be essential to see how the month closes tomorrow, but the short term scenario does not change because the price has fallen since the last three days. With a price of105k it can retest to 95k by next month.

Probably a restest of faith as we can see, its now down to 104k means its really doing a pull back. We can see some changes of that in the coming months. Im not sure if the tariff issued postponed by Trump would still be a crucial factor on BTC movement and stocks.

Whats your thought?

[Alpen]

BTC nothing changed from this morning still on support, but uncertainly since this is the last Friday of the month,we will see next week,it will be essential to see how the month closes tomorrow, but the short term scenario does not change because the price has fallen since the last three days. With a price of105k it can retest to 95k by next month.

Right now, the drop to ~$103K is hitting strong support formed by the sideways consolidation we saw in the second half of May.
The speed of the bounce from this level will likely determine how fast we can retest $109K.

As for that $95K in June — not so sure.
$103K doesn’t look like a level BTC will just slice through.
At the very least, expect some ranging here first.

[michellee]

This day, the price is at $103k level and there is a chance for the price to go down for more. But this should not be a problem because this will just temporary and the price will increase back. Some people seems are waiting for the next thing that may happen so they can decide according to the current situation. We need to calm down and not panic if the price still go down. We don't know where the price will move so if you can calm down, you will see the chance to do something. But I guess the price still trying to hold not to go down. But the price could go lower to $100k so it is better to wait and see.

[Futurexxx]

BTC nothing changed from this morning still on support, but uncertainly since this is the last Friday of the month,we will see next week,it will be essential to see how the month closes tomorrow, but the short term scenario does not change because the price has fallen since the last three days. With a price of105k it can retest to 95k by next month.

By looking at the price chart of Bitcoin on the daily timeframe, it shows that it has already retrace back to the $104k plus make and it's going to test that supports for a while which in my own opinion it might break because it has already form a head and shoulder chart pattern, and if that happens it might go as low as $93k, but nothing should be ruled out entirely, I am quite certain that the market is trying give those dip buyers another opportunity to act on, let's keeps our fingers across because anything can happen in the market.

[Dunamisx]

BTC nothing changed from this morning still on support, but uncertainly since this is the last Friday of the month,we will see next week,it will be essential to see how the month closes tomorrow, but the short term scenario does not change because the price has fallen since the last three days. With a price of105k it can retest to 95k by next month.

Now that the market is at $103,000 we should prepare for more bear as you have said because we are towards the end of the month and this is either for the market to raise a supporting level that could avoid it from going dip below $100,000 or if there's resistance towards $105,000 till the month ends, then we should expect more bearish from them onward below $100,000

[Roseline492]

BTC nothing changed from this morning still on support, but uncertainly since this is the last Friday of the month,we will see next week,it will be essential to see how the month closes tomorrow, but the short term scenario does not change because the price has fallen since the last three days. With a price of105k it can retest to 95k by next month.

It has gone very down now compare to the price you posted was the current one on Friday because now is $103,515k,  so just within 24hrs Bitcoin has dropped -$1,485k from the main price we saw yesterday, however I might not agree with you on the Bitcoin price to test $95k because it has done that so many times and besides what is holding $100k is very strong for the drop to cross it, so for the price to reach $103,515k shouldn't make us to think like before but however is also what it is if it breaks below but definitely is going to create another more high after it gets tired of the of $95k.

[Lanatsa]

BTC nothing changed from this morning still on support, but uncertainly since this is the last Friday of the month,we will see next week,it will be essential to see how the month closes tomorrow, but the short term scenario does not change because the price has fallen since the last three days. With a price of105k it can retest to 95k by next month.

Right now, the drop to ~$103K is hitting strong support formed by the sideways consolidation we saw in the second half of May.
The speed of the bounce from this level will likely determine how fast we can retest $109K.

As for that $95K in June — not so sure.
$103K doesn’t look like a level BTC will just slice through.
At the very least, expect some ranging here first.

Talking about into the technical aspects approach then there are tons of FVG (Fair value gaps) if we do tend to look at into the chart on which we do know that these are imbalances/inefficiencies on which it needs up for the price to go back. We can say that crypto market or Bitcoin alone doesnt get in line when it comes to fundamentals and technicals when it comes into movements but as years or cycles goes pass by on which it turned out that it is that gradually that getting in line or highly reactive with these sentiments on which its not something that will be that too bad if you do tend up to follow. Whenever the market do tend to start going up then it will be making up that kind of positivity and emotion boost up that it would be continuing on which just like on what happened recently that the price do make out some new ath from one to another on which tons of people or even the entire community did made out some assumptions that this might be the start of the bull run.

I have seen this recently.

Crypto trader James Wynn, who’s been in the news for his high-leverage bets, has lost a staggering $99 million in the past two days with his Bitcoin bets falling flat on his face. With BTC price taking a dip under $105K, Wynn was forced to close all his positions, leading to huge liquidations. On the other hand, a smart crypto trader, betting against Wynn, managed to mint $17 million in the same time.
https://coingape.com/crypto-trader-james-wynn-loses-99m-in-bitcoin-bets-this-counter-trader-wins/

One of the examples on the moment that someone do make out that getting driven with some positivity on which it do results that kind of probability of loses but since the market is unpredictable then we dont know on what would happen next. If it turned out that momentum did build up then we might be able to see the different situation or simply he made up that huge amount of money.

[Awaklara]

BTC nothing changed from this morning still on support, but uncertainly since this is the last Friday of the month,we will see next week,it will be essential to see how the month closes tomorrow, but the short term scenario does not change because the price has fallen since the last three days. With a price of105k it can retest to 95k by next month.

Now that the market is at $103,000 we should prepare for more bear as you have said because we are towards the end of the month and this is either for the market to raise a supporting level that could avoid it from going dip below $100,000 or if there's resistance towards $105,000 till the month ends, then we should expect more bearish from them onward below $100,000

This month will close with Bitcoin still at $100k. The first week of the beginning of next month, maybe the Bitcoin situation will not be much different. There is a possibility of a drop to a level below $100k. The movement that occurs may not be too fast, but maybe what happens is like what we saw in the last week of this month. If the price of Bitcoin reaches $95k, maybe those who want to trade or buy Bitcoin should also be careful.

[CageMabok]

BTC nothing changed from this morning still on support, but uncertainly since this is the last Friday of the month,we will see next week,it will be essential to see how the month closes tomorrow, but the short term scenario does not change because the price has fallen since the last three days. With a price of105k it can retest to 95k by next month.

The test price that you said could indeed happen to Bitcoin, but for now I don't think that Bitcoin will return to a price below $100K again if the support area itself is still very strong because now the price of Bitcoin itself is still not too far from the $105K range. Besides that, I am not too worried about the current conditions because on the one hand it can be immediately utilized by all traders and can also be directly utilized by all investors who want to buy Bitcoin at a price of $104K to $105K.

[Popkon6]

Since Bitcoin has been showing signs of upward momentum throughout May, I think it is natural for Bitcoin to correct. It is never a situation where the price of Bitcoin will always go up, but the more the Bitcoin market is in a dip situation, the more investors will dedicate themselves to investing.
And if there is no price ups and downs, traders will never take trades, so the more Bitcoin's price goes up and down, the more fun it will be to trade. However, if the Bitcoin price corrects naturally in the new month, there is a possibility that the Bitcoin price will rise again in the middle of the month.

[logfiles]

A $95K retest is very possible. Let's see if it breaks through the $103K- $102K level on the 4-hour chart. In fact, around the same level there is 200 day EMA where the price last broke through it upwards back on 12th April and acted as a good support for a good number of days (up to around 20th April) where the price then shot upwards to where we are today.

[TheUltraElite]

Bearish downtrends are possible, uptrends are also possible but less likely. It is all a question of how we prepare ourselves. If it goes down we have to prepare for buying at the low. If it goes up be ready to sell at the high.

Nothing different from this because it is the basic method to make money from the market.

Dont panic because panic will not change the outcome but will disrupt your thinking about what needs to be done.

[Alpen]

 Whenever the market do tend to start going up then it will be making up that kind of positivity and emotion boost up that it would be continuing on which just like on what happened recently that the price do make out some new ath from one to another on which tons of people or even the entire community did made out some assumptions that this might be the start of the bull run.

I have seen this recently.

Crypto trader James Wynn, who’s been in the news for his high-leverage bets, has lost a staggering $99 million in the past two days with his Bitcoin bets falling flat on his face. With BTC price taking a dip under $105K, Wynn was forced to close all his positions, leading to huge liquidations. On the other hand, a smart crypto trader, betting against Wynn, managed to mint $17 million in the same time.
https://coingape.com/crypto-trader-james-wynn-loses-99m-in-bitcoin-bets-this-counter-trader-wins/

One of the examples on the moment that someone do make out that getting driven with some positivity on which it do results that kind of probability of loses but since the market is unpredictable then we dont know on what would happen next. If it turned out that momentum did build up then we might be able to see the different situation or simply he made up that huge amount of money.

I’m not too familiar with James Wynn’s trading style, but from what I see, his position couldn’t even handle a 5% dip.

That basically means he was using 20x leverage — way beyond any reasonable risk management rules.

Personally, I trade BTC with 2x leverage, max 5x when I’m feeling bold — and even then, I’ve managed to blow up accounts. It happens.

[mich]

Well I am very 'bullish' on price of Bitcoin. But we need to think really how the price can be tested even go down below 100k.
And yes you are right it is down to 105k so we can see 100k and even less then this. I will not effect the traders if they are trading their coins to hodl. Only if he wants to make a trade then sell the crypto for fiat.

[jcojci]

A $95K retest is very possible. Let's see if it breaks through the $103K- $102K level on the 4-hour chart. In fact, around the same level there is 200 day EMA where the price last broke through it upwards back on 12th April and acted as a good support for a good number of days (up to around 20th April) where the price then shot upwards to where we are today.

The Bitcoin price is back to $104k so hopefully, this month will bring a good move to Bitcoin. If Bitcoin price can back to $105k in the next week, we may have a chance to see the price will go up for more.

But if the price will not move to that price, we may go down and that could be lower than the last. Many speculations will come up related to the current situation but we don't have panic and stay calm. It is important for us so we can use the situation for our benefit.

[Webetcoins]

A $95K retest is very possible. Let's see if it breaks through the $103K- $102K level on the 4-hour chart. In fact, around the same level there is 200 day EMA where the price last broke through it upwards back on 12th April and acted as a good support for a good number of days (up to around 20th April) where the price then shot upwards to where we are today.

Currently, it's possible things can go either way but as price reboots on $104K to $105K mean it's going to stay here on this price and it's good sign June is starting on good sentiments because it's important few good news coming which are also good.

Even still chances are high this will do some tricks but as situation is going most chances community will watch this staying into 6 figures good after touching ATH $111K. bitcoin faced strong selling pressure which hurt the momentum and price drops. Now it is interesting situation because if market not able to keep this momentum then surely going to face bearish trend which can bring some good drop and things can go on this price level $95K hopefully things will be not gone like this, and we will be having some good momentum.

[Hyphen(-)]

BTC nothing changed from this morning still on support, but uncertainly since this is the last Friday of the month,we will see next week,it will be essential to see how the month closes tomorrow, but the short term scenario does not change because the price has fallen since the last three days. With a price of105k it can retest to 95k by next month.

Well, nothing has changed yet and the first day of the month is almost gone and the price is still trading at $105k. Maybe the market might retrace back but how sure are you?

I was thinking BTC will not go below $100k anytime soon because how it has stretched back last month, and even if it will trace back, I don’t expect it to go below $100k even though we have seen it come below $105k last week.

Will this time be convenient for short-time traders to make big profit? Or it’s only for investors to buy and hold BTC?