BitcoinShort
DON`T GET HURT!!
Updated
Hi everyone!! As always we say positioning is every thing!! Hedging yourself is key!! Multiple position may seem to make you lose profits however it also saves you from your losses. After Xi call to accelerate research in blockchain technologies, we got a "crazy" run, as if crazy would be enough to describe.However lets check the chart do our TA.
We could simply the check the strength of this move with by looking at the volume. It hasn't generated as much as volume when we compare with previous price actions which have pushed the price up or down more than 10%. Even though it pushed us up above the 200 and 50 ema and stoped the death cross, I believe we do not have enough volume backing it up. If we look up the RSI levels on 1 hr and 4 hr, it wouldn't smart to enter any position at his point.
I see people all ready saying "BTC is back" and " let the bull run begin", I wouldn't enter a position with out seeing a new HIGHER HIGH to confirm it. So be cautious. If you had entered any position I belie it would be a great time to take profits and let the market cool down and re-enter afterwards. However I do not believe it is a reasonable to enter a position risk management wise.
As always just a thought not an advice!!
Previous analysis:
We could simply the check the strength of this move with by looking at the volume. It hasn't generated as much as volume when we compare with previous price actions which have pushed the price up or down more than 10%. Even though it pushed us up above the 200 and 50 ema and stoped the death cross, I believe we do not have enough volume backing it up. If we look up the RSI levels on 1 hr and 4 hr, it wouldn't smart to enter any position at his point.
I see people all ready saying "BTC is back" and " let the bull run begin", I wouldn't enter a position with out seeing a new HIGHER HIGH to confirm it. So be cautious. If you had entered any position I belie it would be a great time to take profits and let the market cool down and re-enter afterwards. However I do not believe it is a reasonable to enter a position risk management wise.
As always just a thought not an advice!!
Previous analysis:
Note
I just realized that the screen got split with old ETH post apologies for that=(
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