Well this is it. Bitcoin defended at the bottom of the Defense zone as expected.
Now three possibilities:
1) Consolidate and bounce
2) Bear trap wick (on longer time scales) into the 37-39k region
3) Trouble
I think it is option 1 or 2. 3 only makes sense if all markets are crashing, but so far they are just correcting
So this is not financial advice but I am continuing my accumulation, but keeping majority of powder dry
Now three possibilities:
1) Consolidate and bounce
2) Bear trap wick (on longer time scales) into the 37-39k region
3) Trouble
I think it is option 1 or 2. 3 only makes sense if all markets are crashing, but so far they are just correcting
So this is not financial advice but I am continuing my accumulation, but keeping majority of powder dry
Note
I go back to bullish (short-term) if BTCUSD gets past the 42.7k level quickly, particularly so if it happens on this current bounce off supportNote
Only a wick now in the defense zone. Encouraging!Related publications
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Related publications
Disclaimer
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.