After the strong momentum from $62.4K to $79.5K, Bitcoin shows a considerable extension, and the RSI on higher timeframes has reached extreme levels. Even though the trend is still bullish, a correction now would be technically healthy.
Using Fibonacci from $62.416 → $79.575, the zones I’m watching are:
🔹 23.6% → $75.5K — first support 🔹 38.2% → $73.0K — main target for a moderate correction 🔹 50% → $71.0K — key area 🔹 61.8% → $69.0K — deep correction and possible strong buy zone
🎯 My scenario: losing $75.5K would considerably increase the probability of testing $73K. If it also doesn’t hold that level, $71K–$69K would be the next logical range.
⚠️ A correction doesn’t necessarily mean the bullish trend is over. After such a vertical move, it could simply mean unwinding overbought conditions, taking liquidity, and building a new base.
How far do you think BTC will retrace: $75.5K, $73K, or $69K? 👀
But let’s be realistic—thanks to this increase, I sold part of it in Spot to take profit, and when it drops, I’ll buy back using the gains and thus accumulate a bit more BTC.
Do you already have a management system? Do you know if you’re accumulating and at what price?
Following the idea from the friend @JeffCoinx , start a small short with a lot of leverage (normally I don’t use that much leverage). The trade is already in profit.
Where do you see it dropping? Are they following us?
Leave your users down here if you’re creators so we can see your profiles and follow you back so we can keep following each other.
Many times we operate from the computer, and then we go into the phone, and the charts and indicators don’t show up the way we’re used to, and we might end up trading wrong! (It happens the other way around too)
In any case, I’m still seeing a positive rally, so I’m checking again how it looks in the live open trade
I think this is a moment where they’re liquidating highly leveraged longs. If we enter with low leverage, and with capital to average down, it could give us some good opportunities.
A few hours ago I marked $BILL as one of the cryptos I was most interested in to look for a bounce… and I finally entered. No because you think it magically ended the downtrend. In fact, if we look at the 4H timeframe, it’s still pretty ugly 😅 But that’s exactly what’s interesting. BILL reached 0.02077 after a pretty strong drop, and the indicators were left extremely battered. On 4H we saw RSI in deep oversold and StochRSI practically on the floor. My average entry is 0.0211688, Long with 6x isolated. At the time of writing, it’s trading around 0.02127, so the position is only just starting and we’re basically at the entry point.
$COW was an operation that made us suffer quite a bit 😅 it got very close to my liquidation zone, but I kept the position because my analysis was not yet invalidated.
Today we closed: +319.33 USDT 🚀
Not always is holding on the right thing… this time it worked out. RISK MANAGEMENT ALWAYS.
The COWUSDT trade ended like this:
* 🟢 Realized PnL: +319.33 USDT * 📈 ROI: +179.69% * Average entry: 0.1062897 * Average close: 0.1256366 * Leverage: 10x isolated * Duration: 5 days, 21 h and 22 min
We put an SL at 0.438 so we can go to sleep calmly.
But I still believe it should run a little more
$ETHFI
Edgardo Zeli
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Bearish
Why I think it’s time to look at a SHORT on $ETHFI? 🔴
I’ve been following $ETHFI since this move started, and for me it appeared the confirmation I was waiting for to look for a Short
ETHFI reached 0.4508 after a very strong pump, and from there it lost strength
What happened next?
It lost the 0.440 zone, accelerated the drop, and went as low as 0.4337
Now we’re seeing a bounce, but for the moment it’s still below the moving-average block, which is roughly between 0.4386–0.4408
Yes, I know that looking at 1m to make a trading decision isn’t ideal 😅 and I also don’t recommend it… but in this case it helps me see more closely how this bounce is behaving
And there’s something I like:
On higher timeframes, ETHFI was VERY overbought
On the 1H timeframe we got RSI(6) close to 88 and RSI(12) close to 83. On 4H, RSI(6) almost reached 90
By itself, that does NOT mean you should open a Short. An overbought asset can keep running up a lot
The difference is that now we already had momentum loss + rejection from 0.4508 + a break of 0.440
Currently, the very short-term StochRSI is high again, and the MACD is trying to recover, so I’d let this little bounce play out…
but personally I still see a continuation downward as more likely
My map for this trade:
Critical zone: 0.440–0.441
If it reaches there again and gets rejected, for me the Short gets a lot more strength
Why I think it’s time to look at a SHORT on $ETHFI? 🔴
I’ve been following $ETHFI since this move started, and for me it appeared the confirmation I was waiting for to look for a Short
ETHFI reached 0.4508 after a very strong pump, and from there it lost strength
What happened next?
It lost the 0.440 zone, accelerated the drop, and went as low as 0.4337
Now we’re seeing a bounce, but for the moment it’s still below the moving-average block, which is roughly between 0.4386–0.4408
Yes, I know that looking at 1m to make a trading decision isn’t ideal 😅 and I also don’t recommend it… but in this case it helps me see more closely how this bounce is behaving
And there’s something I like:
On higher timeframes, ETHFI was VERY overbought
On the 1H timeframe we got RSI(6) close to 88 and RSI(12) close to 83. On 4H, RSI(6) almost reached 90
By itself, that does NOT mean you should open a Short. An overbought asset can keep running up a lot
The difference is that now we already had momentum loss + rejection from 0.4508 + a break of 0.440
Currently, the very short-term StochRSI is high again, and the MACD is trying to recover, so I’d let this little bounce play out…
but personally I still see a continuation downward as more likely
My map for this trade:
Critical zone: 0.440–0.441
If it reaches there again and gets rejected, for me the Short gets a lot more strength