BTC "Holding Patter to the upside"
Updated
Alright, BTC, the big one, the unit of measure against everything in the crypto world. Korea has been giving us a lot of uncertainty. But technically speaking BTC seems to be in a consolidation pattern looking to the upside.
Major FIBS seem to be holding good entries on the .618 going for the major D in the upcoming months.
Risk/Reward perspective it does not look wise to enter the market at the moment even if the market cap continues to grow 2x or 3x to reach 2 Trillion.. However adding on dips and making weekly buys with cost averaging will be better entry option for long-term investment.
So it is a good place to be positioned with a little amount an grow it higher as we clean out the resistance.
We are looking at higher highs and an ascending triangle meaning we can loof between a 14 up to 16 k short-term goal this week.
As always I enter trades I recommend but be careful with this one, it has been paying out lately but get out as soon as a bearish pattern shows up. It seems that once a pattern is displayed it drops more than 10% which is a lot! So please be careful.
Happy trading and as always wise trading everyone.
Cheers.
CS
Major FIBS seem to be holding good entries on the .618 going for the major D in the upcoming months.
Risk/Reward perspective it does not look wise to enter the market at the moment even if the market cap continues to grow 2x or 3x to reach 2 Trillion.. However adding on dips and making weekly buys with cost averaging will be better entry option for long-term investment.
So it is a good place to be positioned with a little amount an grow it higher as we clean out the resistance.
We are looking at higher highs and an ascending triangle meaning we can loof between a 14 up to 16 k short-term goal this week.
As always I enter trades I recommend but be careful with this one, it has been paying out lately but get out as soon as a bearish pattern shows up. It seems that once a pattern is displayed it drops more than 10% which is a lot! So please be careful.
Happy trading and as always wise trading everyone.
Cheers.
CS
Note
Note
Currently waiting to find support. Chinese uncertainty and ban is causing a panic forcing big money to move out of crypto. If in there is nothing to do but wait. If out, don't get in until we have confirmed support levels as well as clean confirmed breakouts. Which at the moment seem far away.Just sit relax and be aware this type of things will happen often. >So better get used to it.
Cheers.
CS
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