My bias is starting to turn. I'm feeling more confident in this rally and can't help myself for feeling a bit bullish this afternoon. Would love to see some B.A.A.D. (big ass green altcoin d!ldo's), before we continue our moon mission. Can we reach a new A.T.H.?
After opening a short at the retest of 45K, the price moved down to 43K. My expectation was more downside, all the way down to 40K. I'm kinda suprisded with the current movement, and my short position closed with a small loss. A big falling wedge (bullish pattern) has been formed on the chart, of which it broke out. Does this mean we're safe? Meh. Yet again all...
An update regarding my prior post. Yet another ascending triangle. Ascending triangles are often seen as a continuation pattern. I think we are in a brief downtrend (correct), therefore I expect it to breakout to test 45K again. It needs to hold, else I expect a slope downhill to 39k. That said, I think a new rally upwards, is imminent.
Healthy price movement in my opinion. Important to buil a strong support area around 40k. Expect a slow battle between the bulls and bears between 38k and 45k, before testing new highs.