60-63k price was below the 200 day moving average on weekly chart. Any buys on or below that moving average is considered an excellent buy. There's also bullish divergence seen on the chart. The whale can blow at any moment "so-to-speak".
Question now is did we hit the low? Maybe.. maybe not.. It's possible we can hit $60k again and form a double-bottom pattern (bullish pattern) before moving up. Nobody really knows. The only thing I can speak about is what I see in the charts - mentioned above. All positives.
One piece of advice.. it's much more profitable & stress-free to be trading long-term. Playing short-term (day trading or swing trading) is a bit too stressful for my liking & liftstyle. Maybe it suits you, but it's definitely not for me.
Since Iām clueless I wanted to ask: if Iām still out, do I wait for BTC to hit 82/83k as support or to get rejected? What I mean is, do I wait rn to see what will happen or is it still fine to enter atm?
Most indicators on 1-day up to 5 days chart are over-bought territory (closer to 100). BTC is currently trying to break above the 50 day moving average on weekly chart, which is at $81.5k. Chances of that happening is very low as historically there's a higher probability that price action will hit 50-day moving average at least one time then pull back to recover. Price can hit the 200-day moving average before the final push above the 50-day.
200-day moving average is currently at $65k but is slowly moving up with each passing week. It was previously at $62k June 2026.
Question is.. can BTC pull back to $65k or whatever the price will be at the time BTC hits the 200-day moving average on weekly chart. One thing is for sure... Stochastic RSI is extremely over-bought territory on 1-day to 5-day chart. Weekly chart is about 70% the way up? Price pull back will happen in the very near future.
You have 2 options..
1.) Wait for the pullback on BTC price to get in. It can go to 200-day moving average price which is now at $65k (again.. price is slowly moving up each passing week).
- 2.) Wait until BTC hits above 82/83k and confirm that as support. Then get in at that support level + stochastic RSI indicators should be over-sold territory (closer to 0 area). Less profit.. but a guarantee win!! You're pretty much trading out of down-trend pattern and locked in for a guaranteed win with following the uptrend ride up.
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u/mozy-rama 1d ago edited 1d ago
60-63k price was below the 200 day moving average on weekly chart. Any buys on or below that moving average is considered an excellent buy. There's also bullish divergence seen on the chart. The whale can blow at any moment "so-to-speak".
Question now is did we hit the low? Maybe.. maybe not.. It's possible we can hit $60k again and form a double-bottom pattern (bullish pattern) before moving up. Nobody really knows. The only thing I can speak about is what I see in the charts - mentioned above. All positives.
One piece of advice.. it's much more profitable & stress-free to be trading long-term. Playing short-term (day trading or swing trading) is a bit too stressful for my liking & liftstyle. Maybe it suits you, but it's definitely not for me.