Yesterday someone sent me a message to ask me what I taught was the most likely scenario for BTC . And my answer to that, is the trend is your friend. simple right?
A trader that goes by the trend is your friend moto would not enter a position until one of those 3 lines are confirmed as support or resistance.
Looking way back, there is beautiful from 2012 that we have followed since today. Going by the trend is your friend moto and seeing at how close we are to it, Id say we are going to touch it and that its going to give us support again. Now, one day that is gonna have to be broken, sorry bulls but if you make that for yourself, you'll see that its sending BTC to 100M in 2028. BUT as of now, the trend is our friend guys.
Looking a little bit less back, We have this younger downtrend that we have been following. Compressing the price on our third which isn't really a trend but more a horizontal support. Following our current strongest trend, we can only reach 7000 before going back down. Until we meet our strongest uptrend that could signal us, that we are back to a bull trend.
If you consider yourself an investor and not a trader, you will want to wait until we reach our uptrend see it confirm as support and then put your money in and sleep good at night.
If you are a swing trader you will want to wait for the daily or weekly equilibrium to break on one side.
If you are a day trader, there is a possible on smaller time frames, so lets see where that brings us.
Trade safe, Vinnycrypto.