Is the crypto winter over?

johnarb said:
I thought traders like us love volatility :D

This is what we live for and we're getting it. My entry point $23,222 within 30 minutes I was down over $4k but it's amazing how it hit my purple ma line, could have just put the order there, anyways... twenty-twenty vision

Love this new platform, it works differently than the one I was trading on, but it's better in execution, much more volume and liquidity is the reason
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Price rally has died. Position was briefly profitable 2-3 hours ago...

I have an order to close @ $23,110, cut the loss to about 1,000 Dai, if it doesn't fill in the next 15 minutes, will close it and take the loss (which at this price is about 1500 Dai)

Considering taking a swing position (smaller leverage)

I was watching YouTube Scott Meler episode today which was about Bitcoin trading and charts and they mentioned it's extremely overbought at 90 rsi so I may want to wait before putting a swing position

upload_2023-1-25_23-31-56.png
 
johnarb said:
I was watching YouTube Scott Meler episode today which was about Bitcoin trading and charts and they mentioned it's extremely overbought at 90 rsi so I may want to wait before putting a swing position
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For the time being, I'm hopeful they'll (somehow) push BTC up to 25k. We're too damn close not to. The equity market looks pretty bullish tonight so, if they go up a lot tomorrow, I would think BTC will also follow.

That said, it's critical that 23,300 holds. If that breaks, all bets are off IMO.

Here's what I suspect many people would think of BTC :D

upload_2023-1-26_0-29-38.png
 
Hardly moved overnight and it hasn't moved much since the open of the equity market. This could possibly mean a buyer exhaustion. Need to keep your eye out for any surprises, especially that line down at 22314.

upload_2023-1-26_7-34-39.png
 
schizo said:
Hardly moved overnight and it hasn't moved much since the open of the equity market. This could possibly mean a buyer exhaustion. Need to keep your eye out for any surprises, especially that line down at 22314.
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Usually market is up before Fed day and possibly bitcoin, too
 
Man, ain't she tight today. Not even one of them large fake shakeouts we're so used to seeing.

Yup, FOMC next week. I think Powell will cozy up to Wall Street bankers.
 
schizo said:
Man, ain't she tight today. Not even one of them large fake shakeouts we're so used to seeing.

Yup, FOMC next week. I think Powell will cozy up to Wall Street bankers.
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I thought it was tomorrow, lol, yea just googled and it's for next week

I don't know if Fed will be hawkish or dovish so I plan to not have a trading position on bitcoin right before the decision
 
johnarb said:
I don't know if Fed will be hawkish or dovish so I plan to not have a trading position on bitcoin right before the decision
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Yeah, I would stay out until the dust clears. As for what the Fed will do, I'm pretty sure they're done raising rates. Powell will most likely keep it at 50 bps this time, then go down to 25 at the next time.
 
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