The Art of Simple Trading - Bitcoin Update - As of 22 January 2022

The Trader
#Bitcoin is falling as I type this post.
But the more interesting move happened last week when price broke down through good support just below the $40,000 level.
The weekly shows that support at the channel has failed along with that most recent support level. The next level is just below $30,000... if price can get through that and hold, Bitcoin may truly have a problem.

Bitcoin/USD Weekly



Bitcoin/USD Daily



For more on Bitcoin/USD check out my update page...
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The Trader

Posted by: The Trader

Wall Street refugee... former institutional broker [nearly a decade] who "saw the light" so to speak... I'm a futures day trader meaning I'm flat (no position) by day's end. I am neither broker nor investment advisor. Opinions expressed are my own and any ideas shared are strictly for entertainment purposes. If something you see here just happens to make you $, pay it forward by donating a portion of the return to pediatric cancer research. If your question to me is how much should you risk on a given trade or strategy, the answer is almost always [as in 99.99% of the time always] "less."