Bitcoin was quite bullish on the lower timeframes and started breaking the equilibrium wedge up but rejected hard and has now trapped some fomo longers and shaked people out of their short.
My guess is that we might resume the bearish trend but will build up the panic over the course of few weeks/months.
We will likely stay above 3130 and range between 3200-3894 for some time in february and make a move down after.
RSI on the 3D still holding the downtrend and below 50 value.
Volume is relatively still decreasing.
We made a lower high close on the 3d candle and current 3d candle is bearish engulfing. This candle closes 13th of January so lets see.
As I don't have a crystal ball I don't know how far down we will go, but I have some levels where I will buy in accordingly looking at trend and price action.
I will buy from 2850 every level down until 1800 and with that average i'm happy to hold for the ''longer term'' as I do believe that Bitcoin and crypto will appreciate in price the coming years.
I'm currently short targeting lower and will trade my way down to accumulate more bitcoin ( cheaper btc = more btc for your usd ).
My guess is that we might resume the bearish trend but will build up the panic over the course of few weeks/months.
We will likely stay above 3130 and range between 3200-3894 for some time in february and make a move down after.
RSI on the 3D still holding the downtrend and below 50 value.
Volume is relatively still decreasing.
We made a lower high close on the 3d candle and current 3d candle is bearish engulfing. This candle closes 13th of January so lets see.
As I don't have a crystal ball I don't know how far down we will go, but I have some levels where I will buy in accordingly looking at trend and price action.
I will buy from 2850 every level down until 1800 and with that average i'm happy to hold for the ''longer term'' as I do believe that Bitcoin and crypto will appreciate in price the coming years.
I'm currently short targeting lower and will trade my way down to accumulate more bitcoin ( cheaper btc = more btc for your usd ).
