Join
May 30, 2026
Login

CONFUSED with BTC? Here's my play.

CONFUSED with BTC? Here's my play.

CONFUSED with BTC? Here's my play.

CONFUSED with BTC? Here's my play.

Bitcoin / TetherUS BINANCE:BTCUSDT
apexcryptotrading


CONFUSED with BTC? Here's my play.

3 things I would like to highlight today, each with a separate strategy of how I am trading my beliefs against this market.

The red circle: This downtrend channel was formed in early April and we broke down on 9th May. Now the bottom of the channel is acting as a strong resistance that we have to break in order to see BTC getting that relief rally and I have mentioned this before we are due for it. Anything around 31k would be a nice short opportunity since we have not tested it yet.

The green circle: It was drawn on the middle line of a macro channel that started in December ’17. I will post this in the comment to see it clearly. It had a nice reaction in the past despite being the middle line of the channel. This green circle is around 27.9k at the time of posting and will be acting as support. This will be the point where I start buying BTC again. Remember this is a very macro view so trading here is not advisable. My current plan (this may change as the market presents new information) is to DCA from 28k all the way to 25k and put a stop at 22.1k as we may see a capitulation (long wick down) before a nice move up.

The Rectangle: The market is in sideways or you can call it a horizontal channel. The top of the rectangle will be acting as resistance and the bottom acting as support. I will be trading any attractive ALTS here with low risk.
Long: Buying when BTC touches 28.8k and start TP when it goes to 29.5k.
Short: Selling when BTC touches 30.1k and start TP when it goes back to 29.4k.

Do reply in the comment if you need further clarification.

Previous Article

Novogratz says LUNA tattoo is a constant reminder investing 'requires humility'

Next Article

BTCUSD 18 MAY 2022 (Weekly. Birds eye view)

You might be interested in …

FTT / USDT

FTT / USDT

FTT / USDT FTX Token / TetherUS BINANCE:FTTUSDT tradingwizardtw As you can see in 4H time frame we are in this pattern , and we have bullish divergence on RSI I do trading based on […]

BSV bottomed??!!

BSV bottomed??!!

BSV bottomed??!! BSV / Dollar BITFINEX:BSVUSD rightz06 5 years from now people will remember this time… best buying opportunity in crypto!!