BTC Update 05/20/2024, 65836(-1%)
BTC Update 05/20/2024, 65836(-1%)
Journaling days: 37
BTC printed its lowest 65835.8 at 02:51/05/20/24
BTC printed its highest 67750 at 17:33/05/19/24.
Journal time: May 19th-20th. 7am-7am UTC+7.
The gap between the Lowest and the Highest is 2.9%. The current session's BTC lowest level is -1% compared to yesterday's lowest price.
BTC Prediction for 05/20-05/21
Short target: 67751
Long target: 65834
Prediction active at 10.10 am 05/20 and expired at 07:00am 05/21/24 UTC+7.
Bias: Bearish. If I had only 1 choice between the two price target above and had no unfinished position to protect from liquidation, I would select the "short" target 67751. If you read this update, please DYOR.
BTC Prediction for 05/19-05/20 (Update)#Final
At 17:32 (05/19), BTC broke my Short projection line (67341 ); however, in 17 minutes, the market brought BTC under the target line. As I write this update BTC had recovered from the 65836 area, but I remained "locally" bearish until further market development.
As I continued exercising my rule book, I did not open a new position to lift my previous "short ." And because until 07.00 am (05/20), BTC did not cross my next limit "short" at 70140, I conclude the current trading session as "final."
BTC Prediction for 05/16-05/17 (Update)#4
Position: 66644. Limit order: Short.
#4. Drawdown: -1.65%/Up: +1.21%
#3. Drawdown: -1.04%/Up: +0.21%
#2. Drawdown: -1.13% /Up: +2.3%
#1. Drawdown: -0.54% /Up: +3.1%
In the 4th update, BTC printed a drawdown started since the opening of the current session. Later, however, around 01:00/05/20, Bitcoin breached the unrealized profit line before BTC regained its strength to undo the outcome I anticipated 8 hours later.
BTC crossed the first bearish target, 66440, at 18:59 (05/16) and the moderate bearish target, 66644, at 19:30. Considering the prediction active timing (10:00am), I take the moderate target in this journal. Target take profit: 64000.