Bounce or die hard?
Hi amigos,
After dropping 300 points and hitting some of the lowest supports of the year -which it surely scared the hell out of everyone on a long position-, btc is on the road again. If I'm not too baked at the moment, what I see on this chart and other time frames is what could be an upside trend-line, though it really looks more like a bear flag to me. The moving averages that I placed on this 30 minutes time frame chart (the 9 and 21 EMA's) are the ones that, in my opinion, apply better for a swing trade. And what these indicators are indicating is that we should wait for confirmations before we make anything. Given that the BB are tightening, which means that we will see a squeeze up or down anytime soon, and that we still need to see if the fastest EMA is going to crossover the slowest one, that would confirm a mini bull run, I'm rolling another one to wait and see what happens.
Peace.
After dropping 300 points and hitting some of the lowest supports of the year -which it surely scared the hell out of everyone on a long position-, btc is on the road again. If I'm not too baked at the moment, what I see on this chart and other time frames is what could be an upside trend-line, though it really looks more like a bear flag to me. The moving averages that I placed on this 30 minutes time frame chart (the 9 and 21 EMA's) are the ones that, in my opinion, apply better for a swing trade. And what these indicators are indicating is that we should wait for confirmations before we make anything. Given that the BB are tightening, which means that we will see a squeeze up or down anytime soon, and that we still need to see if the fastest EMA is going to crossover the slowest one, that would confirm a mini bull run, I'm rolling another one to wait and see what happens.
Peace.
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