BTCUSD: At the ETF key level
Updated
I think we can see sideways action in Bitcoin here, which could imply upside for altcoins while it lasts perhaps. I would want to see it hold for one day above the key level, to aim for higher levels. Otherwise we might either form a daily mode around here before breaking the resistance, or go back down to support, to then rebound higher.
The theme is that the long term trend is intact, and it's bullish, so, you should strive to buy oversold dips into support, but not get enamored with positions that exceed your long term allocation of 20% of the crypto account. It's a good time to reduce exposure, and getting rid of margin longs for sure. If anything, lend to margin traders yourself.
Good luck,
Ivan Labrie.
The theme is that the long term trend is intact, and it's bullish, so, you should strive to buy oversold dips into support, but not get enamored with positions that exceed your long term allocation of 20% of the crypto account. It's a good time to reduce exposure, and getting rid of margin longs for sure. If anything, lend to margin traders yourself.
Good luck,
Ivan Labrie.
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