Hey! I am back with another Idea.
My opinion.
Today I woke up and seen a major move from Bitcoin.
I was glad to see such move, but when I looked up how fast it went up in such tiny timeframe, its wasnt a good indication to me.
But for average person it may looks like "Yea, nice. Volume is coming, I dont want to miss this out" Believe it or not, my feeling were kinda same when I woke up.
I would love to believe same as You that we are going up and changing the trend, but I have to stay emotionless and over the matter with a neutral perspective.
Then I started to analyze Bitcoin chart and some major alts and started wondering if this could be the trend changing move..
So I looked up my Bitcoin chart on weekly base and from there I started to Tether up as this move can lead up to a nasty Pinbar..
I am not saying that this has to culminate into a Pinbar, but Tethering up present a lower risk than staying in this Pump.
Its just more likely to go down than continue going up same way and if, that would seems kinda suspicious to me.
Currently 2/3 of my portfolio is in Tether, after a week if this wont lead into a pinbar, I will buy some of my favorites alts back again.
Technicals
Looking at RSI, you can see just how strong the buying impulses were in past years and how long they have occured, I dont believe one move below 40 is enough to change a trend.
Also currently testing a strong ressitance level.
For more technical side, check out my another Idea which was an inspiration to this one, as I dont want people to be blinded by a tall green candle.
I really do appreciate each "Agree" hit!
If You have any questions or want to dislocate something let me know down bellow in comments.
Thanks for your time and good luck trading!
My opinion.
Today I woke up and seen a major move from Bitcoin.
I was glad to see such move, but when I looked up how fast it went up in such tiny timeframe, its wasnt a good indication to me.
But for average person it may looks like "Yea, nice. Volume is coming, I dont want to miss this out" Believe it or not, my feeling were kinda same when I woke up.
I would love to believe same as You that we are going up and changing the trend, but I have to stay emotionless and over the matter with a neutral perspective.
Then I started to analyze Bitcoin chart and some major alts and started wondering if this could be the trend changing move..
So I looked up my Bitcoin chart on weekly base and from there I started to Tether up as this move can lead up to a nasty Pinbar..
I am not saying that this has to culminate into a Pinbar, but Tethering up present a lower risk than staying in this Pump.
Its just more likely to go down than continue going up same way and if, that would seems kinda suspicious to me.
Currently 2/3 of my portfolio is in Tether, after a week if this wont lead into a pinbar, I will buy some of my favorites alts back again.
Technicals
Looking at RSI, you can see just how strong the buying impulses were in past years and how long they have occured, I dont believe one move below 40 is enough to change a trend.
Also currently testing a strong ressitance level.
For more technical side, check out my another Idea which was an inspiration to this one, as I dont want people to be blinded by a tall green candle.
I really do appreciate each "Agree" hit!
If You have any questions or want to dislocate something let me know down bellow in comments.
Thanks for your time and good luck trading!
