Bitcoin Chartpunk Daily Alpha #29

Market Structure

Bitcoin Market Structure 2021.10.25.

3-Day Bitcoin Chart

Bitcoin 3-day 2021.10.25.

1-Day Bitcoin Chart

Bitcoin 1-day 2021.10.25.

8-Hour Bitcoin Chart

Bitcoin 8-hour 2021.10.25.


This is the time where investors need patience, and very strong attention to market tendencies. It is not a question, that the macro Bitcoin environment is outright bullish. The recent breach of the all time high, the commencement of US ETF trading and general market sentiment is definitely calling for new highs in the range of 100k. Some analysts even estimate local tops of 150–200k during this bull cycle. Seasoned hodlers naturally sit on their stacks and buy all dips like this. Active traders need however to follow proper risk management guidelines. To me the general market structure is bullish, and this is confirmed by the 3-day Predator chart. The fact however that the 1-day and 8-hour charts are becoming cleanly bearish is calling for caution. I usually partly de-risk my portfolio in these times, and closely follow the market. The current consolidation channel between approximately 60.5k and 61.5k could be decisive. If price breaks out to the north, then 65–66k could be the next resistance, the tackling of which might signal the next leg up. To the south 57.5k and 53k are my support levels. Any significant breach of 53k to the south would be an exit signal from long positions.

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What is trend trading?

Trend trading is a market strategy that is reasonably different from swing trading or day-trading. A market “trend” is a tendency of a financial market price to move in a particular direction over time. Swing traders and day-traders are usually trying to pinpoint low-term market tops and bottoms, and take aggressive positions expecting to profit from a swift change of market direction. Trend traders are looking for consolidated and strong directions on a given market, and are trying to ride the trend for as long as possible. These traders normally enter in the market after the trend “properly” establishes itself. My core strategy in trend trading is to look for a market setup where the 3-day chart is indicating a solid trend, and is supported properly by the 1-day and the 8-hour charts.

What is the indicator coloring my chart candles?

I am using the Predator indicator from Decentrader as my core trading tool, that is coloring my candles green-red-turquoise-orange, and is providing me basic information on the trend. I am also using the 20-period moving average and Fibonacci levels for the identification of supports and resistances.

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The present article is a free material, for entertainment and educational purposes. Nothing in this post shall be considered as financial advice, you shall never make any financial decisions or financial investments based on a singly source of information and without doing your own research.



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Trading and hodling bitcoin since 2015 I Focusing on longterm trends I No alpha for daytrades