TradeLogs - Global 🌐

📜👆 BTC is stuck. There are no updates because there is nothing to see here before we trade above 66k. Keep patience.

📜Sadly, we didn't get the move we were hoping for. We've closed our spot BTC position here at $63K. It will probably take another 2–3 months for the market to bottom out.

📊 $BTC 1W: If BTC is unable to move above 66k by the end of this month then we will close our spot buy position. The market could turn nasty if the price gets rejected here.

📜👆 No new update, unless we go below 61k this idea should work.

📜👆🏻If the price goes to 61k, this trade idea will be invalid, so you can use a stop loss there in case you are following this idea.

📊$BTC 1W: If BTC makes this move, it could start a rally, but we are not very confident about it, so just trading the spot market only. Don't think BTC will bottom out before October or November, and the final 2-3 months of a bear markets are usually a bit violent, so we are being cautious.

📊 $BTC 1D: Open interest reset was not done fully but this is pretty strong bullish divergence. Weekly chart is also printing bullish divergence. Bought a small amount of Spot BTC here, we will update if this idea invalidates. 66k-67k is important level if it can break that level then it should test 83k areas.

📊 BTCUSD 1D: Waiting for open interest to be fully wiped out before looking for long entries. Although we believe it will take another 2–3 months for BTC to bottom out, we will look for 10–15% moves to trade until then. These will be short-term positions only, not long-term. Keep patience.

📜Closed the spot BTC position from 66k at 3.6% loss.

📊 BTC 2H (CME): 78500 CME gap, weakly close was good BTC could chase that level. We have a spot BTC buy position from 66k. Still it is below previous important support so be cautious with leveraged positions.

📊 $BTC 4H: Consolidating below support is not a very good thing. Still staying sidelined. We don't expect much of a bullish move before September-October, so the next few months are going to be dull like this, IMO.

📜👆🏻Market Update: Bitcoin will probably bottom out in next 5–6 months. Markets are usually very volatile and choppy during a bottoming phase, so be patient and trade cautiously. If we start seeing bad news and FUD, that could be a sign that we're getting close to the bottom. It's been a long time since this market experienced any significant negative news, so let's see what the next 5–6 months bring. Our main goal should be to protect our capital and focus on low-risk trades during the next 5–6 months. No major trades for now.

📊 $BTC 1D: That open interest needs to be completely wiped out before we think about taking new long entries. Around $1 billion in positions still needs to be closed or liquidated. We'll wait until then.

📜 👆 Breakout failed, 65k done. All gaps are also filled. 20% dump but didn't wipe out the open interest much. So still staying sidelined, if we see a good price action here at 65-67k area then we will long again.

📊 BTC (CME): Gap at 70k and 67k and 78k, most likely it will fill that 67k gap then go up to 78k. If 66k support breaks then it could trigger a nasty sell off. As I said earlier, our long position was fully closed, so we are staying on the sidelines for a while.

📜👆🏻Closed the remaining long position here at 74564$, Staying side lined now.

📊BTC 1H: If it can breakout from this wedge, 90k is the target. Failed breakout= we go range bottom near 65k area.

📜 👆Still holding this long, stoploss is must at entry. Big move coming soon not sure about the direction but it should be atleast 10-15% move.

📜 Nothing to update, still sticking to the same plan. Summer market is very slow as usual.

📊 BTCUSD 1D: 4.28billion usd positions opened inside this 65k-82k rally. Open interest is really hot right now. Price should do some chopping first to cool down the OI then it can keep pumping, so we decided to stay cautious and closed 50% of our long position yesterday. If we get the expected chop and Open interest cool down a bit after that then we will open another long position for higher targets. For now just holding the remaining long with SL at entry.