BTC Daily Technical Analysis: Beginning of a Short-Term Bullish Reversal / Today's new Position!!!

By FreedomBuilder | Trading The King of Crypto | 11 Oct 2022

First the 20K or the 18K??? I think you have the answer.😉

On ATOM we have 2 giant peaks in the north close to the price at $12.8 and $13.2, but it's possible to go a little south to get the $12 and then go north to liquidate the shorts.

I just closed my short on ATOM with a nice profit of 7.82% in 1D and 8H

The main reasons for a hunt for shorts:
- A weakening dollar.
- The S&P 500 on a key level.
- The BTC and ATOM with the degenerated shorts.

On the picture is my new position Long ATOM/USDT in grid trading, I put half of what I put when I am on shorts, so on the good direction of the trend I put more, it allows me to preserve my profits and also to avoid taking big losses since the downtrend can hurt more than the bullish one.

The dollar is showing a sign of weakness from the buyers in favor of the BTC and S&P 500.

- Candle patterns towards a reversal:
After several green candles (Color Candle), followed by smaller and smaller shrinking candles, and today we have a Long Wick Candle and at the same time inside the Inside Bar.

https://www.tradingview.com/x/GvsJEJiD/

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Bitcoin (BTC) Technical Analysis Crypto Trading Cosmos (ATOM) Binance Exchange

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FreedomBuilder

Crypto investor, trader & holder, looking for to build my freedom with the Blockchain technology.

Trading The King of Crypto

Technical analysis of bitcoin and the crypto market. - Cryptos are correlated to BTC. - BTC is correlated to the S&P500 - The S&P500 is the largest US market, it can be called the Bitcoin of the stock market. If we can follow the BTC price action we will be able to follow all the other crypto projects, when to buy and When to sell???