Breakout imminent
Updated
I'm following the same simple trend I've been following for weeks now. Simple is ALWAYS better. This could breakout either direction, but when it does, that's how I'll play the coming weeks.
I wouldn't be sad to see BTC break downward actually - it could give rise to an altrun and that's what I would be looking for. Already there are signs among the stronger alts of strength / bullishness, but this would be destroyed by extreme movements of BTC.
I'm still trying to accumulate, so downward would suit me, but I am aware that this chart will probably pop to the upside.
I wouldn't be sad to see BTC break downward actually - it could give rise to an altrun and that's what I would be looking for. Already there are signs among the stronger alts of strength / bullishness, but this would be destroyed by extreme movements of BTC.
I'm still trying to accumulate, so downward would suit me, but I am aware that this chart will probably pop to the upside.
Note
Looks like the break was to the downside, so next support target is low 9s. My feel is we will break it, so I'll wait for a forceful downward move. If it meanders around the support I'll reconsider and possibly accumulate more BTC there.Remember trading isn't about predicting direction it's about assessing risk. Right now there's a high risk of entering as nothing is giving us any confidence of a setup either way. Uncertainty is high.
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