I'm cautious about adding at this point. We had a good rally today, bouncing of the 0.382 Fib. However, this puts us at the top of our downtrend channel. We're also near the high of the general growth channel. This is where indecision gets the best of me. The circumstanced tell me to take some profits. We have strong support at $9600 but if this downtrend continues, then we could be back in the $7300 - $9000 area. I'm waiting to see if we hold this level, continue the local downtrend or break out of the current channel. I'd like to wait to buy again at lower prices but BTC never seems to do what I want it to. I can afford to hold for now...
Comment:
We just broke above the channel - of course it all depends on where I draw the channel... but we're either in a bull trap or the beginning of a new uptrend.