📉 Bitcoin Price Analysis - April 24th, 2023

April 26th Update:

🖼 Picture Perfect Bounce, from Lower Bottom to Middle of Channel (within the First/Upper of the two larger channels), per my last post.

Note that I did not call any explicit direction in that last post, but only provided the chart for consideration with your own analysis.

(I was away from charts / trades while this setup revealed itself over the past ~20 hours.)

A quickly drafted #Bitcoin price analysis chart, for consideration.

I'm not opening any new trades at this very moment (could sit out for the day).

Thankfully, I closed my last Buy scalp early, in small Profit (my last post/comment) 👍
otherwise it would have been Stopped-Out soon after.

Detailed Bitcoin Analysis Chart:

Including Upper and Lower trend channels, as well as relevant Moving Averages labelled on chart.

In case of a heavy breakdown, the lower channel may prove useful for consideration of potential support levels.

(Detailed Bitcoin Analysis Chart):

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bmorton · 61-69, M

wild day. Made money on both bounces. Where to next? Not clear if this is rejection from 30K or just market manipulation

ADtrading · VIP

@bmorton nice work! :)

I'll get back to you today, likely in some hours.
I took some time away from charts, after yesterday's exciting volatility.

ADtrading · VIP

@bmorton sorry I haven't been able to get on charts during this weekend.

I did now take a quick look, and posted a mini-update here:

https://similarworlds.com/trading-crypto/crypto/adtrading/4689121-Bitcoin-Price-Mini-Update-April-30th-2023

Not clear if this is rejection from 30K or just market manipulation

I suspect that it was a combination of:

1) The channel appearing in my chart, showing to be the true dominant channel path for Bitcoin over this past week.

2) Global News (fundamentals) creating FUD, that happened to coincide almost perfectly with the channel resistance of my chart.
(It could have been intentionally timed as well, for stronger effect / manipulation).

I read something about the US Government and/or Mt. Gox wallet movements, that created a panic, at the time of the sharp drop this week.

ADtrading · VIP

🖼 Picture Perfect Bounce, from Lower Bottom to Middle of Channel (within the First/Upper of the two larger channels), per my last post.

Note that I did not call any explicit direction in that last post, but only provided the chart for consideration with your own analysis.

(I was away from charts / trades while this setup revealed itself over the past ~20 hours.)

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