BTC not out of woods yet

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
217 2
we are at a point here I believe. At least in the short term we should fall from the 5 min channel to 8100 where you could go long if you were certainly bullish (I am not). We are then due to go up to meet the major trendline down (green line); we either break or fail...I have mine at approx 9200 now and a Fib retracement at 9300. If we make it though all that garbage I may rebuy. I sold at 8 from buying at 6.5 (wish I believed we had the power to go to 9K), bulls have powered though some decent resistance...unless it was all fake (which many of those walls earlier today sure fell like they were). And remember even after all that we have EMA approaching...which we have bounced off all way down. So anyways....good luck, the choice is yours. I am going to wait patiently and possibly miss some pips, satoshis, whatevers. Ill be along for the move up when its ready. Otherwise I am going to try and hold to $5600 unless my emotions get hold of me before that.

This is just my opinion, not financial advise, as I just know enough to lose money in forex, stocks, and now crypto.
Comment: Moving up respecting all the trendlines. Followed that one from the bottom trenline like clock work. Longs be careful here. A good stop loss could save you some money. I would say 8100. This could easily go up to 10K as well. My problem with an 8100 stop loss is that everyone is going to have one here and I it will be taken there just to hit those stops. That is where I will make a small investment..on the emotional sells.
Comment: This is an important point. We break this the next will be 7500. Of course we are not looking at a straight line to there. As stated before we could bounce off 8100 all the way back to 10K.
Comment: Ignore dotted fib lines in chart above.
Seems like a solid analysis, thank you for sharing, I think we're not exactly out of the woods either as one can practically "feel" a clever bulltrap forming, see:
Good things come to those who wait


mycoinmoon katyusha
@katyusha, I saw your analysis earlier. I think you are onto something. I am long on Bitcoin but just do not hold any positions at this time due to bearish movement. Hopefully my patience pays off.
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