BitcoinUpdated Following recent pullback, pivot low at 42500-43k
Simply drawn out where we moved above an area that I drew out at resistance months ago, then pulled back to re-test support. We again recently moved above an area of resistance and have pulled back again and will likely re-test support.
The risk is that as we move forward in time, retail investor FOMO will be heating up and we will see strong upside corrections that may make it difficult to catch the bottom. At this point I am only trading with 25% of my investment in these swings.
The risk is that as we move forward in time, retail investor FOMO will be heating up and we will see strong upside corrections that may make it difficult to catch the bottom. At this point I am only trading with 25% of my investment in these swings.
Note
With the recent touch of 44 and strong bounce off that level, we may put off the pullback with 43,500 as a most logical touch. Hard to say. So many people assuming the weekend will pump may push us up through Sat and then a pullback Sunday. Feels like herding sheep.Note
Absolutely invalidated, although price responding to my support line previously drawn out, so I don't fee too bad. Now we test 47,500 and whether we can push through that level and test as support. Let's go!
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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.