Now honestly its very hard to say what we should do from here. There really isnt much to say other than a 50/50 chance it goes up or down. The 4 hour chart shows us that we are still in the uptrend and the sell off from $9,980 to $9,208 was healthy and normal. People have to take profits right? We cant just keep going up everyday without some type of retracement.
So what next? Well we closed on the weekly above $9,450 & today we closed on the daily above $9,350 ($9,390). So i think in my belief the outlook is neutral/bullish.
If BTC fails to cross above $9,500 in 4 days we will test $8,500 ~ $8,800 where there will be extremely strong support and more accumulation.
$7 k in my belief is totally out of the question for me. Is it impossible no its not but i dont see it to be the correct assumption that we dump again.
So some sideways movement and retest of $9,700 and a close above $9,500 may be all we need to try $10 k area again hopefully with success. I wish i new all the answers but at this point in time this is all we got to go on.
Good Luck Play Smart Play Safe this is not investment advice...
So what next? Well we closed on the weekly above $9,450 & today we closed on the daily above $9,350 ($9,390). So i think in my belief the outlook is neutral/bullish.
If BTC fails to cross above $9,500 in 4 days we will test $8,500 ~ $8,800 where there will be extremely strong support and more accumulation.
$7 k in my belief is totally out of the question for me. Is it impossible no its not but i dont see it to be the correct assumption that we dump again.
So some sideways movement and retest of $9,700 and a close above $9,500 may be all we need to try $10 k area again hopefully with success. I wish i new all the answers but at this point in time this is all we got to go on.
Good Luck Play Smart Play Safe this is not investment advice...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.