Bitcoin to $64200 this weekend
2024-09-22

I entered this trade from last night. Took some profit earlier then scaled in again.

What you see on my chart now is and average entry and stop and my targets.

It's still good for anyone looking to long.

Even though price is high right now, the bulls are still showing strength. Which leads me to believe that they will attempt to push the price higher again this weekend.

Last time price went as high as $64140 area before getting a bit of sell off, that's where stronger supply is but not enough it seems for further downside, bulls are defending 63k level so far.... based on my analysis more people or rather more selling pressure   is likely at $64200 area . Enough to cause a big correction down to 58k on bitcoin or continuation back down to $47000-$45000.

Also the week trend is still bearish so it's not unlike that it could happen. If bitcoin was to successfully break pass the $64200 are then that changes things as wk would fip bullish but I doubt that will happen despite interest rate cuts...also speaking of rate cut if there is any time to attempt to flip the wk bullish I think this week would be the time when the rate cut news is still driving demand...if fail, that goes to show that even with rate cut news bulls couldn't reclaim 64200 which is major weakness in my opinion.

Anyways no point in rationalizing it anymore more. Let's see how the trade plays out, manage risk, good luck and have fun.