ok to start- This isn't financial advice. This is my personal notes for benchmarking and reference material. Not a finanial advisor and don't follow my personal analysis. Cause this is just my personal analysis.
OK- the picture has cleared up and the traders that have kept it REALLY boring the past couple of weeks (unless you bought the top) are running out of rooom. Theres been alot of bearishness on CT. The reasons are two fold. 1) Traders gonna trade. 2) China FUD is real this cycle.
That said, china bitmex shortt positions have fallen considerably with only a mild impact to $BTC price.
Furthermore, borrowing from a (rather THE) trusted source of crypto trading, we have been confidently bouncing off the HTF (high time frame= 1 yr+) support with consistency. Definateyl should have stop losses in place (mine are personally @ 32,750 right now. That said-
1. We did break out of the desceding channel to the high side.
2. $35K appears to be testing ST and long term support
- Double bottom here locally.
- This number also represents the beginning of the feb 2021 parabolic move (DYOR)
More to thiss, but im tired and will pick back up later.
If you are following me here, follow me on twitter @allenwhudson for more frequent updates.
PS- I don't get paid shit, but i pay it forward. i'll never ask you to DM me or sell $hitcoin for a fee..f' those guys (most of Crypto Twitter)
OK- the picture has cleared up and the traders that have kept it REALLY boring the past couple of weeks (unless you bought the top) are running out of rooom. Theres been alot of bearishness on CT. The reasons are two fold. 1) Traders gonna trade. 2) China FUD is real this cycle.
That said, china bitmex shortt positions have fallen considerably with only a mild impact to $BTC price.
Furthermore, borrowing from a (rather THE) trusted source of crypto trading, we have been confidently bouncing off the HTF (high time frame= 1 yr+) support with consistency. Definateyl should have stop losses in place (mine are personally @ 32,750 right now. That said-
1. We did break out of the desceding channel to the high side.
2. $35K appears to be testing ST and long term support
- Double bottom here locally.
- This number also represents the beginning of the feb 2021 parabolic move (DYOR)
More to thiss, but im tired and will pick back up later.
If you are following me here, follow me on twitter @allenwhudson for more frequent updates.
PS- I don't get paid shit, but i pay it forward. i'll never ask you to DM me or sell $hitcoin for a fee..f' those guys (most of Crypto Twitter)