09 Aug: In the overnight market, Bitcoin finally broke above the 58k level but quickly reversed, breaking down to 57k. The buyers' second attempt was successful, resulting in a valid breakout, with the market later hitting 63k during Asia time.
I am a day trader sharing insights on futures trading. Views expressed are my own and not intended as advice.
Friday, August 9, 2024
Thursday, August 8, 2024
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08 Aug: Overnight, Bitcoin failed to break above 58k, losing momentum until it found support at 55k. However, during Asia time, the market came back above 57k.
Tuesday, August 6, 2024
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06 Aug: Bitcoin opened with a further recovery from yesterday's heavy sell-off, managing to defend the major 50k level. The price climbed back above 55k, although it remains far from the gap down level.
Monday, August 5, 2024
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05 Aug: Bitcoin opened with a gap down below 60k, losing its VWAP and opening range support. Panic selling caused the market to lose many major levels, even dropping below the 50k level at one point. At its worst, Bitcoin lost more than 10k. Where is the support then?
Tuesday, July 30, 2024
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30 July: Bitcoin was unable to hold above the 70k level after Wall Street opened. The market pulled back sharply, giving back several major levels.
Sunday, July 28, 2024
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📈 Bitcoin Market Review - July 26th
*Strong Opening: Bitcoin surged strongly right from the opening bell.
*$67K Resistance: Faced a rejection at the $67,000 swing high initially.
*VWAP Support: Found solid support from the Volume Weighted Average Price (VWAP).
*Buyers Step In: Significant buying pressure helped break through $67K and then $68K.
*Momentum Loss: After reaching $68K, Bitcoin started losing momentum.
How long will the Trump effect last? Will it break $70K again? #Bitcoin #Crypto
Tuesday, July 16, 2024
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15 July: #Bitcoin opened with a powerful gap up due to the "Trump effect," surging to the 62k level and triggering profit-taking. After digesting the selling, buying momentum resumed and challenged the 63k level.