Bitcoin, the most transparent chart I have ever seen.

14 במאי 2022

BTCUSD / 1W

Hello traders, welcome back to another market breakdown.

Bitcoin has been trading in a down-trend, the buyers are disappointed after breaking the 30k support level (the weekly bar is not closed yet). So, there might be another push up to test the 33k-37k levels.

Bulls are still buying the dips, where bears are looking at 2 target in vision:
1- bears target 18k-20k: Test for the Breakout Point.
2- bears target: Measured move as a second leg down.

Traders should be looking to sell short. Where investors should be looking to buy these levels following the dollar cost everage strategy.

What am I doing? I'm not trading Bitcoin , so I'm applying the dollar cost average strategy but I have a thesis inspired from Amazon's chart and the dot com bubble in 2000. So, I'll be buying more at 20k and heavily at 12k if we reach such levels. I'll publish the Amazon's chart soon.

Please note, this is not a financial advice. This is my opinion and I'll apply it.

Trader Leo,
Trade safe.