mycotoxin

BTC - Hitting the supports on the way up

GEMINI:BTCUSD   Bitcoin / U.S. Dollar
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33
BTC moves up and then moves down to test the new support - This behavior has been repeating and there is a chance BTC may move down and test the 6500 support and then move up - BTC Doesn't have to but this has been the past pattern and also it confirms it as good support .
Comment: if BTC does move lower to test the support and fails to bounce at 6500 Ill expect the bounce to move to 6200

Comments

are you long, short or fiat?? I've been in fiat since about 6.3 and shorting this on the way up to my great disappointment... ofc
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BrenFren BrenFren
@BrenFren, im starting to see bullish signs, but never the less im putting it down to BTC being a low liquidity, low vol, easily manipulated coin... similar to low float high momentum stocks. I'm starting to think about bouncing on to ride it up to 8-9k, I don't see how it gets there given the volume... but them I didn't see this last surge, for any other reason than S&P is correlated...
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mycotoxin BrenFren
@BrenFren, may also come back and retest the 68xx to 67xx area
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BrenFren mycotoxin
@mycotoxin, providing S&P eases off the gas and retraces... I'm getting quite dismayed at this... is there really much, if everything is so correlated...
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mycotoxin BrenFren
@BrenFren, Im in fiat exited at 7090 - I want to see BTC cross over the green median line if its moving up before I go back in ,
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What about your bulltrap idea? Still in play?
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mycotoxin ThePhoenix137
@ThePhoenix137, Consolidation is like the foundations of a house . The stronger the foundation the higher and bigger the house can be .
Likewise with a consolidation the longer the consolidation the higher price can go - With just a 20 day consolidation I dont see BTC moving up very far before it comes flying back downwards .
+1 Reply
mycotoxin ThePhoenix137
@ThePhoenix137, yeah its a bulltrap
+1 Reply
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