BitcoinUpdated Significant sell-side volume/strength is not there (yet)
Although we've had a pullback today there is not enough information from my point of view to project a significant pullback ahead. I am watching volume depth however and will be pivoting to a more defensive position should we see significant negative volume. I've drawn a line I am monitoring in the second pane beneath the price activity chart.
Pullbacks are normal and are a great opportunity to DCA. Although I am a fan of DCA on a schedule, waiting for pullbacks is more appropriate IMHO. I do have the tendency to 'jump on opportunities' but I think we are in a cautious moment here waiting to see what the direction is Friday and this weekend. I do have cash on the side waiting to add to my overall positions.
Pullbacks are normal and are a great opportunity to DCA. Although I am a fan of DCA on a schedule, waiting for pullbacks is more appropriate IMHO. I do have the tendency to 'jump on opportunities' but I think we are in a cautious moment here waiting to see what the direction is Friday and this weekend. I do have cash on the side waiting to add to my overall positions.
Note
Interestingly, a prior similar event (price, volume) was at this level.
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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.