I made a few trades on Bitcoin again today and earned some living expenses. This afternoon, the students analyzed that it would fall tonight, while my analysis was that it would rise. The main reason is that ETF buying has been quite strong these past few days. I think Bitcoin ETFs should continue buying tonight. Bitcoin was already very strong during the European session this afternoon, so it should continue rising tonight.
64,100 is a relatively strong support level that has held several times. The resistance above should be around the previous high near 65,000. I think it will break through here because 62,200 was not breached previously, so I shifted from bearish to bullish.
Today, I closed my long opened at 64,150 and opened another long at 64,270. I took partial profits between 64,600 and 64,900. Since I anticipated that it would continue rising tonight, I kept part of the position to verify whether my prediction was correct. Even if I am wrong, it does not matter, as long as I have secured some profits.
After entering, the students at the site could not hold on when they saw the price rise and wanted to exit at 64,400 and 64,600. I told them that this upward move was not over yet, and Bitcoin indeed surged to 64,900. After I explained the logic behind the entry and how to determine when a trend begins and ends, they understood. 😄
It is very clear that the market is in a starting phase across all timeframes, from 1 minute to 4 hours. Based on the time projection, this trade should be held at least until 8:00 a.m. tomorrow, when a high may appear. Of course, the projection is only for reference; if there is a sharp surge tonight, we still need to exit. Judgments should be made by combining time and price. Do not apply things mechanically; adapt flexibly according to the market.