Quick summary
BTC cracked through two base levels in a sharp July wick before recovering fast, with a −7% entry catching the exhaustion low. The +8% exit triggered in 4 days on reclaim of the 54,400 EUR base, a clean fast panic resolved.
What is Bitcoin?
Bitcoin is the original cryptocurrency and the largest by market cap. XBT/EUR is the Kraken ticker for Bitcoin priced in Euro.
Trade Setup
Base 1: ~54,400 EUR (upper base, formed mid-June)
Base 2: ~52,200 EUR (mid base, formed late June)
Current price: 54,528 EUR, back above both bases
Position: entered at −7% below base 1 after the July 1 capitulation wick
Levels
Entry: −7% below base → ~51,260 EUR
Exit: +8% from entry → ~55,360 EUR (upper base reclaim)
Panic: sustained close below 51,035 EUR with no reclaim
Zoomed out: price cracked through two base levels in a sharp wick to 51,000 EUR before recovering fast, a textbook fast panic. The entry at −7% caught the exhaustion low, with the +8% exit triggered in 4 days on the reclaim of the upper base zone.
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Disclaimer
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Written by
Andrew Kamsky
Andrew Kamsky is a Bitcoin analyst. He spent a decade in traditional finance across a Big Four firm and a listed fintech bank before going deep on Bitcoin full-time.
