8.5 as anticipated, now what for BTC...
Ok, you got me, $8470. In my previous post, Bull-still-not-giving-up/ , I set my sites on 8.5, which corresponded to the 8/1 Gann Fan coming down from 14k. A "Last Stand Level" for Bears, if you will. We tapped it (near), and got rejected (as anticipated). I hope you guys took some profit at/near these levels. No one ever went broke taking a profit!
A) Our Osci has put in a new high, leading me to believe we still have more Bull Juice in the tank.
B) The consolidation which led to this breakout, the green box, is Un-Tested. Should we correct, be it now, or at 8750, or 9.2 or <<insert your level>>...This would be an area I'd watch closely for an opportunity to Re-Enter Long (7.5ish).
C) This 8.6-8.8k still looks like a good area to stop and re-fuel (correct). I'd like to see us take 8.8 or so, then correct to 7.5 or 7.6, for another run at 10k+....but I digress, and we're just speculating now.
Ultimately, we're in the beginnings of a possible turnaround (mid term/macro scale). Breaking that 8/1 and holding (so far) is a very Bullish sign for BTC. Should BTC Break/Hold 8.6-8.8k region, the FOMO will likely start really ramping up. As always, practice strict risk management, enjoy yourself, and good luck trading.
7.5 or so is a clear Buy The Dip zone at this point. 8k may even be a possible opportunity, I'll be monitoring PA development closely.
A) Our Osci has put in a new high, leading me to believe we still have more Bull Juice in the tank.
B) The consolidation which led to this breakout, the green box, is Un-Tested. Should we correct, be it now, or at 8750, or 9.2 or <<insert your level>>...This would be an area I'd watch closely for an opportunity to Re-Enter Long (7.5ish).
C) This 8.6-8.8k still looks like a good area to stop and re-fuel (correct). I'd like to see us take 8.8 or so, then correct to 7.5 or 7.6, for another run at 10k+....but I digress, and we're just speculating now.
Ultimately, we're in the beginnings of a possible turnaround (mid term/macro scale). Breaking that 8/1 and holding (so far) is a very Bullish sign for BTC. Should BTC Break/Hold 8.6-8.8k region, the FOMO will likely start really ramping up. As always, practice strict risk management, enjoy yourself, and good luck trading.
7.5 or so is a clear Buy The Dip zone at this point. 8k may even be a possible opportunity, I'll be monitoring PA development closely.
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