We've just seen a beautiful little deviation above the 28,000 resistance area as expected and are now sitting at support.

These pullbacks we've been seeing are great for the health of the market so I'm definitely liking what I'm seeing here from a bullish perspective.

1h, 4h and 1D EMA ribbons + ichimoku clouds all provide support at these areas which is very reassuring if BTC continues to drop from here.

The drop between our first support level & second support level is a very nice 9% range which would definitely be tempting to play for a short. That said, I don't like to trade against the trend and have no reason to do so given that:
1. I'm already in an extremely profitable long position
2. I've already taken profits literally at the exact top
3. I've already taken profits nicely along this whole rally

Still, as a scalp, it looks nice and fun to play. I'll be trading every move on Bybit which you can get up to $30,000 in free trading cash with when you follow this link.

Deeper we fall the better in terms of "resetting" this rally a little bit. We have very strong resistance up ahead so for the best chances at getting big, clean breakouts, we're gonna want to see healthy pullbacks that scare traders out.

I'll be watching sentiment indexes as this develops.

I am also considering reopening parts of my long position if we pullback deeper. Alternatively, it may be a good time to trade some alt moves like ETH/USD.

As usual, I'll keep you fully up to date with all my actions and considerations right here in VIP 🚀

https://www.tradingview.com/x/rTpnJal8/

- @Forflies

Bitcoin went right back up to the 28,800 dollar level - and then cooled off a little. To me, BTC is not looking too bad right now, but I still wouldn't like to see it get stuck below this 28,800 dollar price tag.

Of course, a bigger correction is still on the table as the 29,000 - 30,000 dollar range is a strong area of resistance on longer time frames like the weekly.

https://www.tradingview.com/x/LySz4EsY/

-@Forflies

We just entered the weekend and Bitcoin appears to once again be trading sideways. Now that's not necessarily a bad thing as consolidating at such a high price level is a good sign and shows strength. I personally think that the 30,000 dollar level could be pierced soon.

And a few daily closes above 30,000 dollars could be amazing for Bitcoin.

- @Forflies

https://www.tradingview.com/x/hjwnOj1L/

Bitcoin is just barely staying this ascending triangle. The green Ichimoku cloud on the 4h is also still holding, but I'm starting to feel like we could see a drop soon. We've been trading at this level for a while now. The triangle pattern and the Ichimoku cloud are bullish things - but regardless, not overcoming resistance for so long isn't good.

- @Forflies

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

NEW YOUTUBE CHANNEL

The first videos to my new short term price action YouTube channel have been uploaded!
- Mainly altcoin focused channel
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- Shorter videos

The main channel stays as it is. No changes.

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Here's my first ETH video on the channel.

https://www.youtube.com/watch?v=eEcR-ZV62Bk

- @Forflies

We're still seeing Bitcoin trade sideways and it's starting to look a bit more concerning.

That first ascending triangle I drew is not really valid anymore. I can just draft a new ascending triangle (yellow) and still have a valid pattern, but that can only be done so many times before it becomes just grasping for something.

Even that green Ichimoku cloud on the 4h is about to close. This is starting to feel a bit dumpy.

If we don't see a breakout soon, I think we might indeed be in for a drop.

-@Forflies

https://www.tradingview.com/x/8JFwPLCs/

We're still not really seeing any volatility as Bitcoin continues to trade sideways. It's still trading inside this ascending triangle, which is a good sign, but that's really it.

-@Forflies

https://www.tradingview.com/x/fNIs9KPH/

Lol nvm

Good morning from sunny California 😂

https://www.tradingview.com/x/QVv7S2Nz

- @Forflies

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Quick comment on Chainlink: I'm still considering a potential long order at the 7.50 dollar area if we drop down there.

- @Forflies

https://www.tradingview.com/x/LjKB7kvP/

Bitcoin's drop is also not really a surprise, considering that it came in right at the upper trend line of this descending channel. We're now down by a bit over 7% this week, but if BTC manages to recover and even break out of this channel, we could see it soar to a new all-time high.

Macro is looking good, despite this drop.

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

As expected, BTC didn't move a lot, and neither appears to move a lot today. Nothing surprising here.

-@Forflies

https://www.tradingview.com/x/mXSCI7SF/

After being unable to overcome the 0.074 dollar level, HBAR is now resting on top of the 0.060 dollar range. In my opinion, this is quite an important price level for HBAR; If this level fails, HBAR could see a big drop, potentially down to or even past the 0.050 dollar level.

-@Forflies

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

I'm LIVE on YouTube to give you my thoughts on the market in less than 5 minutes!!

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- @Forflies

I'm live!

- @Forflies

I’ve just closed 25% of my remaining position in BTC, securing further profits at this beautiful +380% profit level.

I am continuing to monitor the market for new positions but am prioritising safety in my trading as usual - this has saved me from a lot of losses in recent weeks.

https://www.tradingview.com/x/sWs0Yj8Y

- @Forflies

The long/short ratio has massively evened out now and we're even seeing many more top trader positions leaning long while retail is now generally leaning short.

In light of that shift (liquidity being taken out of the market as discussed in my recent videos), I am now also keeping a more open mind to long positions. Since I'm already in a BTC long, that'll probably end up coming in the form of an ETH long if we manage to swing above our recent highs at 2,140.

I am scanning the market now to see where these opportunities are and if they satisfy my risk appetite.

- @Forflies