Watching to see if trend bar turns to wick
BTC has come into the propulsion dots area on the week chart with a strong upward movement.
There doesn't seem to be any specific news related to this run up so it's unclear what might keep it going.
If it proves to have staying power I will switch back to being bullish. However at the moment I am still treating this as an opportunity to get short if the current trend bar on the week chart turns into a long rejection wick like it did in october 2018.
If this week bar closes with a long wick on top I will likely start shorting more heavily next week and use this week's candle to define risk.
There doesn't seem to be any specific news related to this run up so it's unclear what might keep it going.
If it proves to have staying power I will switch back to being bullish. However at the moment I am still treating this as an opportunity to get short if the current trend bar on the week chart turns into a long rejection wick like it did in october 2018.
If this week bar closes with a long wick on top I will likely start shorting more heavily next week and use this week's candle to define risk.
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