Another bad day for BTC
and crypto in general. I personally got stopped out after refilling this most recent position. Minimal damage done since I was able to flip the trade yesterday I outlined in last post but I am now back to cash and more or less just playing a game of patience here. Bulls need to establish some form of support as there's not much support nearby. 4 hour chart is oversold but daily still has a ways to go. Our strongest support remains down at 7400-7700 range but continue to prefer we not revisit that area. We have had a lot of politicians involved in crypto talk the past few days revolving mostly around BTC
and Libra coin from facebook
. Crypto has been very shaky and seeing a lot of bearish
posts lately so definitely keeping my eyes on new entries. Will clean up this chart today now that our last trade setup has failed as bulls were unable to reverse the trend by forming a higher low and instead sank to lower lows.
Just My 2 Sats!