Some similar 3 weak new highs, followed but 1 new lower high patterns to compare. When trends have a loss of momentum and it is impossible to maintain you typically see these rounded top looking distribution patterns. The good news is that the 200 Day moving average is being tested. The bad news is that is Bitcoin cannot find the buyer support that it needs, then...
Well here we are, New ATHs and new bull season. It looks like what we currently looks like some TP and weak hands. The ride isn’t over but there will be fear and panic along with plenty of ignorance and greed. Which means expect volatility and lots of whip saws. Good Luck!
Tip: If you keep getting stopped out, revaluate your exits. Try placing your entry where...
Those lower highs were the bulls consolidating and we have lift off. Still might see some whipsaw action (cap wick in the 8s) but bottom is in, next stop ATH.
Now would be a good time to place entires at your stop and maybe even add 20% for volatility. BTC is coiled up and ready to shoot. What would be the worst thing to happen to everyone?
