Yesterday was a Black Swan Event. A FUD Tsunami. You had Binance, SEC, MT Gox Dump...all after a couple blah days added into that. When you have those events its hard to analyze the market. Things work emotionally. I woke up and looked at CryptoTwitter and thought we were in dire straits. It's not that bad. We broke down below 10k again but could have been much worse.
We're close to dropping back into that downward channel which would kill the momentum we've gained. But we are also close to moving back to a golden cross indicating that we're doing better shorter timeframes than longer which is bullish.
Mixed signals. We've broken the main fib I've been using for a while. There's other softer supports below but nothing strong. That being said I'd recommend being conservative while BTC figures out its next move.
Generally I think we're still bulls wanting to run. Let's see what BTC thinks.
If you want to reach out to me or get involved in an active community check out my profile or find me on twitter.
We're close to dropping back into that downward channel which would kill the momentum we've gained. But we are also close to moving back to a golden cross indicating that we're doing better shorter timeframes than longer which is bullish.
Mixed signals. We've broken the main fib I've been using for a while. There's other softer supports below but nothing strong. That being said I'd recommend being conservative while BTC figures out its next move.
Generally I think we're still bulls wanting to run. Let's see what BTC thinks.
If you want to reach out to me or get involved in an active community check out my profile or find me on twitter.
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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.
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.