Maybe something like this.

Bitcoin trading calls

Thinking this line might hold it

Bitcoin trading calls

A 2nd bounce off this TL. 2nd bounce not usually sustained unless its a strong established trend. I think we will continue lower

Bitcoin trading calls

Just put a TP order in at 69k. Can see the blue rectangle being strong support and a reversal at 67,808. The gap would essentially be closed, then we have this weekends gap to fill. Should be more signs to go long around 68k by then Thats the plan ...

Bitcoin trading calls

I'm not concerned about this move. Just a test of the broken TL I think. Expecting new lows soon

Bitcoin trading calls

For me it's just how much do I want to risk on this trade. Generally the smaller the stop, the smaller the risk, and vice versa. A small stop has greater chance of getting hit, so dont want risk the same amount as I would with a bigger stop. I try ...

Bitcoin trading calls

You still might get your entry Olu. Pretty close where it is right now. I guess depends what your target is, but I myself wouldn't quibble over a few hundred bitcoin dollars if my target is 1,000s away. I just get in. Its been slowly declining along ...

Bitcoin trading calls

This has nothing to do with current analysis, but only noticed this recently. I was primarlity using log scale for all timeframes, and then noticed this. These little trendlines (i guess we can call them that) seem like an afterthought. Not exactly ...

Bitcoin trading calls

Definitely something you want to have a look at on longer term charts.

Bitcoin trading calls

Thanks Kobbyf. We're on same page. Funny because I was just about to post these same 2 lines. This intersection will be a spot to watch out for. A test of the broken TL and a retest of the TL. Lets see how it looks if it gets there. In 2nd chart is ...

Bitcoin trading calls

Thanks Olu for kind words. Glad you appreciate my analysis! We can either laugh or cry about our mistakes. Ive done both. Important thing is to learn from them.

Bitcoin trading calls

I just focus and trade Bitcoin only. I'll check ETH to see if things look similar, but dont do full analysis on it. I stare at the fucking bitcoin chart all day long and STILL miss signs! I'll see them later on and be like "of course it did that you ...

Bitcoin trading calls

Not that crazy though really. Last bear market it dropped 77%, and 85% on the bear market before that. A 77% drop from 126k puts us below 30k!

Bitcoin trading calls

One thing I've noticed about CME gaps is when the market moves from the close in one direction an appreciable amount the chances of a big gap that doesn't get filled for a long time is greatly increased. For example, BTC closes on CME at 77,400, and ...

Bitcoin trading calls

Too early to tell if the short was a good idea to be honest. Will feel better when I can at least get a stop to b/e.

Bitcoin trading calls

Gotta be careful here for sure. Got my stop in place. Gotta trade the charts and protect oneself the best you can, that's all we can really do

Bitcoin trading calls

Zooming out to a weekly chart in log scale, its starting to look like we could not only be in for new lows, but possibly a break of the blue TL. The next one (green) would be tested around 40k. Bitcoin is trying to run away from all the trendlines ...

Bitcoin trading calls

Just went short with stop at yesterday's highs. It shouldn't be dropping if it was destined for a big bull run i dont think. There are the gaps below and trendlines to break. Could be a big drop. Target unknown for now

Bitcoin trading calls

I just closed out for profit. Something not smelling rjght

Bitcoin trading calls

Certainly there was some profit taking, but since the move is just beginning really (in my opinion) Im viewing any retracements as opportunities to add size, not remove. That bites me in the ass sometimes, but when it works it can turn a big win ...

Bitcoin trading calls