BTC Update
BTC is still taking it on the chops, and it's looking very grim on higher time frames with the descending triangle. Mid term on daily time frame is looking rough with this massive red dildo, and if/when we break $6118.7 we'll most likely drop below 6k again.
We have to start making higher highs instead of lower highs. If we break above $6596.5 then the chances of going back up to $7429.2 are good.
But if we start breaking these lows, the previous one being $6118.7, $5862.7, and the yearly low of $5763.3, then things will be very painful. Right now, as long as we're above the yearly low then we're going to be okay.
I really think it's up to a news event, such as an ETF approval/denial, that'll trigger market makers to pump or dump. Keep eyes on the news, the yearly low, and the lower highs/higher highs.
We have to start making higher highs instead of lower highs. If we break above $6596.5 then the chances of going back up to $7429.2 are good.
But if we start breaking these lows, the previous one being $6118.7, $5862.7, and the yearly low of $5763.3, then things will be very painful. Right now, as long as we're above the yearly low then we're going to be okay.
I really think it's up to a news event, such as an ETF approval/denial, that'll trigger market makers to pump or dump. Keep eyes on the news, the yearly low, and the lower highs/higher highs.
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