BTC short term up, but where next?
Updated
BTC is still in the (approximately) $3,000-4,500 support/resistance zone i identified before it entered it in November...
a break up and out of 4.5k should take us to the 200d MA which is at around $5,200
that said, not convinced we break out of the box, but if we do, immediately re-evaluate as we approach 5k
There's really not a lot of price history in these areas, so both supports and resistances are pretty week.
i know some people want conclusive "bitcoin is going to
X on x-date" type of TA, but fwiw, that's much easier on LTF than HTF, and also most people that pass that type of TA are wrong like 90% of the time anyway
just calling it as i see it
i'm net long right now on BTC and still riding half my position in ETH, a third of my LTC position
im also 90% sure this isn't the bull run CT is looking for, but is a a bulltrap/ gearing up for a bearish retest of 200d MA zone
gl, hf and gfy
a break up and out of 4.5k should take us to the 200d MA which is at around $5,200
that said, not convinced we break out of the box, but if we do, immediately re-evaluate as we approach 5k
There's really not a lot of price history in these areas, so both supports and resistances are pretty week.
i know some people want conclusive "bitcoin is going to
X on x-date" type of TA, but fwiw, that's much easier on LTF than HTF, and also most people that pass that type of TA are wrong like 90% of the time anywayjust calling it as i see it
i'm net long right now on BTC and still riding half my position in ETH, a third of my LTC position
im also 90% sure this isn't the bull run CT is looking for, but is a a bulltrap/ gearing up for a bearish retest of 200d MA zone
gl, hf and gfy
Note
update: a few days in, this was not the bull run CT was looking for<Obi-wan Kenobi hand wave>
Note
#feelsgoodman
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