My short term BTC direction
Updated
Haven't posted in a while. Been busy doing my own thing and still in the game. Here's my short term call for BTC . We're in a consolidating triangle currently. The triangle stays in-tact as long as BTC can close a monthly 12/31/21 above the blue dashed line (~47,135).
Even with a monthly candle above the blue dashed line, it's still not in the clear until BTC can clean break above the green box with a candle above. But until then, my bias is to the upside for January.
There's no clear cut answer, triangle can break both ways, but this triangle favors the upside more than it does the downside. BTC leads the market, so it's imperative that we can read the direction of BTC . I will not be trading BTC , but I will be positioning myself for better alt coins that I see has potential when market can turn green.
Trading is not in-all-be-all. Use the information to make better informative decision. None of this is financial advise.
Even with a monthly candle above the blue dashed line, it's still not in the clear until BTC can clean break above the green box with a candle above. But until then, my bias is to the upside for January.
There's no clear cut answer, triangle can break both ways, but this triangle favors the upside more than it does the downside. BTC leads the market, so it's imperative that we can read the direction of BTC . I will not be trading BTC , but I will be positioning myself for better alt coins that I see has potential when market can turn green.
Trading is not in-all-be-all. Use the information to make better informative decision. None of this is financial advise.
Note
We didn't close monthly where I would want BTC. But we're still consolidating within the triangle. Going to have to keep an eye on BTC for now.
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