top of page
Search

Bitcoin Looks Ready For Its' Next Upward Cycle

Writer's picture: T. LivingstonT. Livingston
Jun 20, 20232 min read

Bitcoin continues to display positive action and looks like it is ready for its' next upward cycle. When looking at the weekly chart, we can see that since capitulation took place in October after the FTX collapse, we have started to see accumulation come into Bitcoin. Bitcoin is now in a Stage 2 uptrend and looks to be in the beginning phase of its' next upward cycle. The weekly chart is starting to sketch the outline of a cup and handle base as well.



The daily chart also shows signs the bulls are in control. I like the way Bitcoin retook its' 50-day moving average with conviction today. This is a step in the right direction, but it does look like there is some resistance around $29,000-$30,000. It wouldn't surprise me to see Bitcoin build out its' right side a little more before breaking out above $30,000. For those who are patient and like me, are looking to build a large position over time, a breakout above this level would be another logical point to pyramid up. This is how I prefer to trade Bitcoin as it allows me to get more aggressive as things are working, rather than blindly plowing in all at once.


Risk right. Sit tight.





To learn more about swing trading strategies, stock market trading, and how to trade cryptocurrencies, visit my course page.


Full Disclosure: I currently own Bitcoin and Ethereum. Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


  • crypto

  • bitcoin


Comments

Commenting has been turned off.

Statement on Accessibility

We are working to make this website easier to access for people with disabilities, and will follow the Web Content Accessibility Guidelines 2.0. ​ If you need assistance with a particular page or document on our current site, please contact tlivingstonblog@gmail.com to request assistance.

Email: TLivingstonblog@gmail.com

Join My Mailing List

© 2021 by TLivingstonBlog All Rights Reserved

I Hypothetical Performance Disclosure I Terms Of Services | Risk Disclosure

Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

​

Crypto CFTC advisories

​

​

TESTIMONIAL DISCLOSURE: TESTIMONIALS APPEARING ON TLivingstonBlog.com MAY NOT BE REPRESENTATIVE OF THE EXPERIENCE OF OTHER CLIENTS OR CUSTOMERS AND IS NOT A GUARANTEE OF FUTURE PERFORMANCE OR SUCCESS.

bottom of page