BitcoinUpdated SO WHATS NEXT?!!
We are in a phase of high risk high reward. The uncertainty of traders is causing volatility. However if we could time it right this could really be beneficial. I believe BTC has made its first big move after the bull run and now it will go a bit side ways.
Even though I say side ways, there will be a huge gap between tops and bottoms, due to FOMO on both ends. So do not try to fly close to the sun... Those wings will get burned. The main concern is if 200 EMA and 50 EMA are going to hold. I am pretty confident of 50 EMA holding resistance but not sure of 200 EMA as support.
We should re asses our entries based on the patterns, volume and indicators if we break these lines. I believe we are heading towards 7550. To make that drop in short term RSI is pretty low. That is why ,I believe we`ll go a little side ways before going further down. However in reality no one knows. Safe option is to sit out and wait the market to cool down and make a long position. As always, just a thought, not an advice!
Previous Analysis:
Even though I say side ways, there will be a huge gap between tops and bottoms, due to FOMO on both ends. So do not try to fly close to the sun... Those wings will get burned. The main concern is if 200 EMA and 50 EMA are going to hold. I am pretty confident of 50 EMA holding resistance but not sure of 200 EMA as support.
We should re asses our entries based on the patterns, volume and indicators if we break these lines. I believe we are heading towards 7550. To make that drop in short term RSI is pretty low. That is why ,I believe we`ll go a little side ways before going further down. However in reality no one knows. Safe option is to sit out and wait the market to cool down and make a long position. As always, just a thought, not an advice!
Previous Analysis:
Trade closed: target reached
We have reached our buy and sell zones. I believe it is a good time for us to start taking profits and wait to see how BTC acts. As always just a tough not an advice.
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.
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.